Podcasts have become an increasingly popular form of media, with over half of Americans having listened to a podcast at least once. With the rise of podcasting, it’s important to understand the industry’s current state and where it’s headed.
In this blog post, we’ll be discussing the latest podcast industry statistics and what they mean for the future of podcasting. We’ll also be exploring the various ways that podcasts are being monetized and how they’re impacting the media landscape. So let’s dive in and take a look at the current state of the podcast industry.
Podcast Industry: The Most Important Statistics
By 2024, there could be over 100 million podcast listeners in the US, up from 75.9 million in 2020.
Spotify has surpassed Apple Podcasts in terms of monthly podcast listeners in the US, with 32.5 million monthly listeners compared to Apple Podcasts' 28.5 million.
Podcast Industry Statistics Overview
Podcast listening among adults aged 55 or above has almost doubled between 2017 and 2021.
Podcast listening is becoming increasingly popular among adults aged 55 or above, indicating that the podcast industry is growing and expanding its reach. This could mean more potential customers and revenue for podcast creators and platforms, as well as more opportunities for advertisers.
By 2024, there could be over 100 million podcast listeners in the US, up from 75.9 million in 2020.
Apple Podcasts holds the number one spot with 38.6% of all podcast listeners and 44,194,930 downloads, followed by Spotify with 26.7% of podcast users and 30,549,230 downloads.
This provides insight into the popularity of different podcasting platforms and listening apps, which can help inform decisions about where to invest resources in the podcast industry.
Spotify has surpassed Apple Podcasts in terms of monthly podcast listeners in the US, with 32.5 million monthly listeners compared to Apple Podcasts' 28.5 million.
This shows that the podcast industry is growing and that Spotify is becoming a major player in the industry. This could have implications for the future of the podcast industry, as Spotify may become a dominant force in the industry.
Podcast advertising revenues increased 37% YoY in 2020, reaching $842 million, and is expected to grow as much in the next two years as it did in the past decade.
Thus, there is a big potential of podcasts to reach a larger audience and become a more profitable medium for advertisers.
Podcast Super Listeners are increasingly more likely to pay attention to ads, have a more positive opinion of companies, and be more likely to purchase a product when hearing an ad on a podcast.
The highest-earning podcast in 2019 was "The Joe Rogan Experience" with 50 million dollars, followed by "My Favorite Murder" with 15 million dollars.
Podcasting, therefore, has the potential to become a viable career path for those looking to make money through it.
Podcast advertising revenues surpassed $1B in 2021 and are forecasted to exceed $2B in 2022 and almost triple by 2024 to over $4B, growing faster than the total internet advertising revenue market.
It shows that podcast advertising is becoming increasingly popular and profitable, which could lead to more investment in the industry, as well as more opportunities for podcasters to monetize their content.
Podcasts are most popular among young audiences, with close to 40% of UK listeners aged 26-35 listening to podcasts on a weekly basis, primarily on smartphones while driving or traveling.
They are a viable form of entertainment for young people, and smartphones are the most popular device for listening to podcasts.
News and Weather was the most popular radio program in the UK with 45% of respondents giving it a positive rating, followed by Desert Island Discs with 37%.
This provides insight into the preferences of radio listeners in the UK, which can be used to inform decisions about the types of content that should be produced for radio and podcast programs.
Conclusion
In conclusion, the podcast industry is growing rapidly and is expected to continue to grow in the coming years. The industry has seen a surge in listenership, revenue, and production costs.
As the industry continues to grow, it is important to stay up to date on the latest podcast industry statistics to ensure that you are making the most informed decisions about your podcast. By staying informed, you can ensure that your podcast is successful and profitable.
References
1 - https://www.statista.com/statistics/912381/united-states-monthly-podcast-listening-age/
2 - https://www.statista.com/forecasts/1123105/statista-amo-podcast-reach-us
3 - https://www.buzzsprout.com/blog/podcast-statistics##most-popular-podcasts
4 - https://www.statista.com/statistics/1229112/podcast-listeners-spotify-apple-united-states/
5 - https://www.iab.com/news/us-podcast-ad-revenues-grew-19-yoy-in-2020-set-to-exceed-1b-this-year-and-2b-by-2023/
6 - https://www.edisonresearch.com/super-listeners-2021-from-edison-research-and-ad-results-media/?utm_source=Hot+Pod&utm_campaign=4af91f8dde-EMAIL_CAMPAIGN_9_23_2021_9_51_COPY_01&utm_medium=email&utm_term=0_f85dcd1354-4af91f8dde-92410571
7 - https://www.statista.com/statistics/476423/highest-earning-podcasts-revenue-worldwide/
8 - https://www.iab.com/insights/u-s-podcast-advertising-revenue-report-fy-2021-results-2022-2024-growth-projections/
9 - https://www.statista.com/forecasts/1147560/podcast-reach-uk
10 - https://www.statista.com/statistics/1025691/most-popular-radio-programs-and-podcasts-in-the-uk/
ZipDo, cited June 2023: Podcast Industry Statistics
