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Podcasting Global Market Report 2022

·4-min read

Major players in the podcasting market are Amazon. com Inc, Apple Inc, iHeartMedia Inc, Megaphone LLC, Pandora Media LLC, Audacy Inc, Soundcloud Limited, Spotify AB, Stitcher, TuneIn Inc, Entercom Communications Corp, Liberated Syndication Inc, Podbean Tech LLC, PTC Inc, IBM Corporation, Tech Mahindra Limited, Wipro Limited, Oracle Corporation, Siemens AG, Tata Consultancy Services Limited, Atos SE, Libsyn, Blubrry, PodOmatic, Sirius XM Holdings and The Adecco Group.

New York, Sept. 15, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Podcasting Global Market Report 2022" -

The global podcasting market is expected to grow from $15.62 billion in 2021 to $20.32 billion in 2022 at a compound annual growth rate (CAGR) of 30.10%. The podcasting market is expected to grow to $58.31 billion in 2026 at a compound annual growth rate (CAGR) of 30.15%.

The podcasting market consists of sales of podcasting services by entities (organizations, sole traders, and partnerships) that is used for preparation and distribution of audio related to education, entertainment, and connection with like-minded communities.It refers to an audio series program made available in digital format for download or stream over the Internet.

Podcasting is an easy and freely accessible service for the users to experience many genres like news, education, health, fitness, comedy, and fiction as well as industry updates and breakdowns that can be downloaded or streamed through the internet.

The main types of genre in podcasting are news and politics, society and culture, comedy, sports and others.News and politics podcasting keeps listeners updated with local, national, or global news or politics, often focusing on a specific topic with the use of existing media sources like newspapers or magazines.

These are intended to inform or entertain or advocate for a cause for the audience who are usually interested in current affairs and programs that are usually half an hour to an hour in length. Podcasting is offered in format such as interviews, panels, solo, repurposed content and conversational.

North America was the largest region in the podcasting market in 2021. The regions covered in the podcasting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The podcasting market research report is one of a series of new reports that provides podcasting market statistics, including podcasting industry global market size, regional shares, competitors with a podcasting market share, detailed podcasting market segments, market trends and opportunities, and any further data you may need to thrive in the podcasting industry. This podcasting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing penetration of the internet is significantly contributing to the growth of the podcasting market.Internet penetration is increasing due to various reasons such as improved access to mobiles/smartphones, the emergence of new communication over the internet, and others.

During the COVID 19 pandemic, most of the people shifted online for online communications, entertainment, e-learning, podcasts, and other purposes as they were home due to lockdowns.The increasing penetration of the internet significantly creates demand for podcasting as it is part of online learning and entertainment.

For instance, according to the statistics from DataReportal, the internet penetration rate in the USA was around 92.0% in 2022, which increased by 2.8% reaching 8.4 million internet users between 2021 and 2022. Similarly, the internet penetration rate in the UK was around 98.0% in 2022, which increased by 0.4% reaching 300 thousand internet users between 2021 and 2022. Therefore, the increasing penetration of the internet will drive the growth of the podcasting market.

Technological advancement is a key trend gaining popularity in the podcasting market.Key players in the podcasting market are focusing on incorporating advanced technologies such as artificial intelligence (AI) into their podcast/platforms to enable improvements such as programmatic podcasts, transcription, optimization, advertising, and others.

Such integration of technology enables podcasting platforms to earn additional revenue through advertisements while targeting the right listeners.For example, in December 2021, HT Media Limited, an India-based mass media company partnered with an US-based technology provider of advertising solutions AdsWizz, to create India’s first programmatic podcast marketplace.

The use of technology combines the strength of programmatic advertising with the power of podcasts, allowing advertisers get a chance to reach their target audience.Additionally, with the use of AI Transcription Technology, advertisers can make sure brand protection with the aid of most effective serving advertisements to podcast shows or episodes that have precise subjects as a principal theme.

It also helps podcasters who are looking to create monetizable content.

In October 2020, Sirius XM Holdings Inc., a US-based broadcasting company acquired Stitcher, for an undisclosed amount. This acquisition expands the Sirius XM digital audio advertising capabilities by enabling new ways for creators to find and connect with a wider audience with the use of Stitcher’s leading programming and advertising networks. The deal also makes Sirius XM the premier full-service platform for podcast creators, publishers, and advertisers. Stitcher is a US-based media company that specializes in creating, distributing, and monetizing podcasts.

The countries covered in the podcasting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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