Podcasting Market Size, Share, Industry Analysis, Trends, Growth, Forecasts, 2032

Podcasting Industry Prospective:

The global podcasting market size was evaluated at $24.03 billion in 2023 and is slated to hit $131.45 billion by the end of 2032 with a CAGR of nearly 20.78% between 2024 and 2032.

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Podcasting Market: Overview

Podcasting is a key marketing strategy adopted by users for promoting their business and increasing their audience base. Moreover, podcasting, which is also referred to as radio on demand, is a pre-recorded digital tool that users can either listen to or watch online with the help of a subscription or through file download with various kinds of extensions available for videos. Precisely, podcasting is a term used for creating & distributing online audio or video files that can be streamed or downloaded by viewers.

Reportedly, podcasting is extensively utilized in teaching & educational learning activities along with the delivery of audio learning. Furthermore, podcasting helps firms create and share their content on news, education, storytelling tools, and entertainment channels.

Key Insights

• As per the analysis shared by our research analyst, the global podcasting market is projected to expand annually at the annual growth rate of around 20.78% over the forecast timespan (2024-2032)
• In terms of revenue, the global podcasting market size was evaluated at nearly $24.03 billion in 2023 and is expected to reach $131.45 billion by 2032.
• The global podcasting market is anticipated to grow rapidly over the forecast timeline owing to a surge in the use of podcasts in educational learning and imparting online teaching with seamless streamlining of audio & videos.
• In terms of genre, the news & politics segment is slated to register the highest CAGR over the forecast period.
•  Based on format, the interview segment is predicted to lead the segmental space in the upcoming years.
• Region-wise, the Asia-Pacific podcasting industry is projected to register the fastest CAGR during the projected timespan.

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Podcasting Market: Growth Factors

An increase in podcast use in online learning & teaching to embellish the global market surge by 2032

The surge in the use of podcasts in educational learning and imparting online teaching with seamless streamlining of audio & videos is likely to embellish the expansion of the podcasting market globally. The onset of new technologies such as AI-connected things, and blockchain has lucratively influenced the expansion of the market globally. In addition to this, the rise in smartphone use along with access to high-speed web connectivity due to the launching of 5G networks & 5G smartphones will steer the growth of the market globally.

Rise in the OTT tools has led to the creation of personalized content per region, type of viewers, and demographic is likely to spearhead the global market space.  In addition to this, the inclusion of new technologies in online content such as autonomous sensory meridian response will prop up the growth of the podcasting business in the upcoming years.

Podcasting Market: Restraints

Lack of podcast awareness among the people to steer the growth of the industry globally

Low awareness about podcasts and monetary challenges can obstruct the growth of the podcast industry across the globe. Less availability of skilled podcast developers can further impede the expansion of the industry globally.

Podcasting Market: Opportunities

Exploration of new formats for acquiring new customers and increase leads to open new growth opportunities for the global market

Exploring various kinds of genres & formats along with targeting new audiences to increase the consumer base is likely to open new avenues of growth for the global podcasting market.

Podcasting Market: Challenges

Constant demand for producing high-quality content for video & audio streaming to prove a huge challenge for the global industry

Consistently producing high-quality contents can pose a huge challenge to the growth of the global podcasting industry.

Podcasting Market: Segmentation

The global podcasting market is sectored into genre, format, and region.

In genre terms, the podcasting market across the globe is segregated into comedy, news & politics, sports, and society & culture segments. Furthermore, the news & politics segment, which acquired nearly 59% of the global market revenue in 2023, is predicted to register the highest gains in the forthcoming years. The progress of the segment from 2024 to 2032 can be attributed to a rise in the streamlining of news & politics on demand as a large number of the population is eager to know current news events and political upheavals going across the globe.

Based on the format, the global podcasting industry is sectored into interviews, solo, and panel segments. Additionally, the interviews segment, which gathered a key share of the global industry in 2023, is anticipated to dominate the segmental surge in the coming eight years. The segmental surge from 2024 to 2032 can be subject to the uniqueness of interview podcasts.

Podcasting Market: Report Scope

Podcasting Market: Regional Insights

North America is slated to retain the leading position in the global podcasting market in the coming years

North America, which contributed about 60% of the global podcasting market earnings in 2023, will be a key region in the years ahead. Moreover, the growth of the market in North America over the forecast timespan can be a result of a rise in the acceptance of new technologies along with the surging consumer base. In addition to this, a rise in the number of podcast viewers in nations such as Canada and the U.S. will spearhead the growth of the market in the region. 

Asia-Pacific podcasting industry is anticipated to record the fastest CAGR in the forecast timespan. The expansion of the industry in the region can be due to a surge in the consumer use of digital equipment including iPhones and smartphones. Apart from this, the presence of key players in the sub-continent is predicted to embellish the growth of the industry in the sub-continent.  

Key Developments

• In December 2023, Spotify, a Sweden-based audio streaming service provider, introduced Spotify's audience network in India. This new product will help podcast creators monetize their podcasting services via promotional activities.
• In October 2023, Alloy.ai declared the launching of a new podcast that will offer new advice to sales, marketing, and finance professionals. Apart from this, experts from different domains share their experience on retail activities and profit-churning business growth strategies along with enhancing the efficiency of the supply chain.
• In the first half of 2024, AutoGuide.Com has decided to introduce a new podcast with a focus on the automotive sector.

Podcasting Market: Competitive Space

The global podcasting market profiles key players such as:

• Audacy Inc.
• Amazon.com Inc.
• Apple Inc.
• Stitcher
• iHeartMedia Inc.
• Sound Cloud Limited
• Megaphone LLC
• Pandora Media LLC
• Spotify AB
• Tune In Inc.

The global podcasting market is segmented as follows:

By Genre

• Comedy
• News & Politics
• Sports
• Society & Culture

By Format

• Interviews
• Solo
• Panels

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa