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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

A podcast is an episodic series of digital audio files that a user can access or download to personal devices for listening. There are different streaming and podcasting application services that provide a sophisticated way to manage personal consumption queue. Popular podcasting platforms include Apple Podcasts, Google Podcasts, Spotify, TuneIn Radio, Stitcher, etc. Apart from entertainment, podcasting is being used by popular brands to communicate a captive audience. Through podcasting, companies and brands tell their story anywhere, which helps them to establish their authority across the industry.

The global Podcasting Market was accounted for US$ 14,446.5 Mn in terms of value in 2019 and is expected to grow at CAGR of 24.3% for the period 2020-2027.

Market Dynamics- Drivers

  1. Increasing proliferation of smartphones and low-cost internet is expected to drive growth of the global podcasting market during the forecast period

The adoption of smartphones has increased significantly in the recent past, in both developed and emerging economies. According to a report released by Indian Cellular and Electronics Association and KPMG, smartphone penetration in rural India increased from 9% in 2015 to 25% in 2018. According to the same source, India is expected to have around 820 million smartphone users by 2022. Furthermore, the penetration of the internet has increased as well. According to the Ericsson Mobility Report 2018, there were around 7.9 million mobile broadband subscriptions globally. As a result of this, a large population of people has gained access to audiobooks and podcasts. Thus, these factors are expected to drive growth of the global podcasting market during the forecast period.

  1. Rising creation of podcasts annually is expected to propel the global podcasting market growth over the forecast period

Podcast generation has increased significantly over the years due to technological advancements. According to the Edison Research’s Infinite Dial report, in 2019, podcast creation increased with over 700,000 podcasts and 29 million podcast episodes, of which 27% rise from 2018. According to an article by Variety in February 2018, Apple Podcasts feature over 500,000 active podcasts, including content in over 100 languages. Large companies are have started focusing on podcasts, investing significantly for different purposes. Therefore, these factors are expected to propel the global podcasting market growth over the forecast period.

Global Podcasting Market - Impact of Coronavirus (Covid-19) Pandemic

During the COVID-19 pandemic, it is observed that listeners are spending more time at home. Before COVID-19 pandemic, majority of listeners used to play the podcasts on their commute. However news and media companies such as CNN have also launched COVID-19 update podcasts. The podcasting market is to show a significant growth after COVID-19 pandemic owing to the increasing number of smart phone users.

Statistics:

North America held dominant position in the global Podcasting market in 2019, accounting for 34.7% share in terms of value, followed by Europe and Asia Pacific respectively

Figure 1: Global Podcasting Market Share (%) in terms of Value, By Region, 2019

Podcasting  | Coherent Market Insights

Market Dynamics- Restraints

  1. Slow internet speed is expected to restrain growth of the global podcasting market during the forecast period

Despite increased internet penetration at low cost, slow speed internet is a major challenge in the market. This is typically observed in emerging regions such as the Asia Pacific, Middle East & Africa, and Latin America. Audio and podcast streaming requires high-speed, uninterrupted internet. Hence, these factors are expected to restrain growth of the global podcasting market during the forecast period.

  1. Lack of awareness related to podcasts is expected to hinder the global podcasting market growth over the forecast period

Although podcasts are highly popular in developed countries such as the U.S. and Western European countries, it has gain significant popularity in emerging economies such as India, China, and Brazil. This is typically due to a lack of awareness regarding podcasts and related application services available in the market. Thus, these factors are expected to hinder the global podcasting market growth over the forecast period.

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Podcasting Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 14,446.5 Mn
Historical Data for: 2017 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 24.3% 2027 Value Projection: USD 82,325.0 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East and Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Genre: News & Politics, Society & Culture, Comedy, Sports and Others
  • By Formats: Interviews, Panels, Solo, Repurposed Content and Conversational
Companies covered:

Amazon.com, Inc., Spotify AB, Apple, Inc., Soundcloud Limited, TuneIn Radio, iHeartMedia, Inc., Google Podcasts, Stitcher, and Pandora Media, Inc.

Growth Drivers:
  • Increasing proliferation of smartphones and low-cost internet
  • Rising creation of podcasts annually
Restraints & Challenges:
  • Slow internet speed

Market Opportunities

  1. Advent subscription-based services can present lucrative growth opportunities in the global podcasting market

Similar to video streaming services, many podcasting platforms have started offering subscription-based services to consumers. Although it is still in the nascent stage, audio-on-demand is witnessing robust growth in different languages including Spanish, English, and others. For instance, in June 2020, Podhero introduced a monthly subscription service to support podcast creators. Podhero’s service will be available at 30-day free trial and thereafter US$ 5.99 a month. It will offer over 1 million podcasts in over 30 countries.

  1. Growing podcast audience due to the COVID-19 pandemic can provide major business opportunities in the global podcasting market

During the COVID-19 pandemic, a large population was stuck indoor, spending more time at home due to work from home policies and strict regulations restricting public gatherings. As a result of this, people are listening to podcasts and audio-on-demand content while working from home. Furthermore, several podcasts are being launched that are particularly dedicated to timely updates on the coronavirus outbreak.

Figure 2: Global Podcasting Market Value (US$ Mn), 2017 - 2027

Podcasting  | Coherent Market Insights

The global Podcasting market was valued at US$ 14,446.5 Mn in 2019 and is forecast to reach a value of US$ 82,325.0 Mn by 2027 at a CAGR of 24.3% between 2020 and 2027.

Market Trends

  1. Rising popularity of news and politics segment

The news and politics segment is gaining massive popularity in the global podcasting market. This is typically due to the fact that the majority of users listen to these podcast genres on a daily basis. Generally, the format of such podcasts is a conversation or solo news announcement or panel discussion over ongoing political issues. News & politics podcasts offer exclusive content on current affairs to its listeners, which is why it has gained significant popularity.

  1. Sports segment is expected to gain significant traction in the near future

Apart from news and politics, the sports segment is expected to gain major traction in the near future. This is owing to the presence of a significant number of sports fans globally. Sports podcasters are coming up with daily topics and offering relevant content by inviting popular sports personalities to engage listeners.

Competitive Section

Key players operating in the global podcasting market are Amazon.com, Inc., Spotify AB, Apple, Inc., Soundcloud Limited, TuneIn Radio, iHeartMedia, Inc., Google Podcasts, Stitcher, and Pandora Media, Inc.

Key Developments

  1. Major companies are focused on product launches, in order to expand the product portfolio. For instance, in September 2019, Amazon Music, a music streaming platform by Amazon.com Inc., launched podcasts for customers across the U.S., Germany, Japan, and the U.K. featuring Becky G, Will Smith, DJ Khaled, and Dan Patrick.
  2. Key market players are involved in mergers and acquisitions, in order to gain a competitive edge in the market. For instance, in February 2019, Spotify AB, a music streaming service, acquired Gimlet Media Inc., a podcast content producer.

Podcasts are audio files that can be played or downloaded from the internet. The popular format of podcasts include interviews, panels, solo, repurposed content, and conversational. The podcasts are easily accessible to listeners during their day to day travel. The popularity of podcast increased gradually since its inception in early 2000’s.

Market Dynamics

The busy lifestyle of people in metro cities is expected to drive growth of the podcasting market during the forecast period 2020-2027. Generation z (post millennial generation) spends average of around 5 to 6 hours daily on mobile, according to CMI analysis in October 2020. The podcasts are easily accessible through mobiles. Moreover, online music platforms such as Spotify India are launching podcast services. For instance, in November 2019, Spotify India launched interview and solo format podcasts. In the period of 2018 to 2019, the number of podcasts on Spotify increased from 10,000 to 500,000. There listeners also increased at a significant 14% rate on monthly basis in Q2 and Q3 of 2019.  This indicates that the demand of podcast is increasing at very high pace. Moreover, in February 2020, Spotify acquired Ringer, an online podcast provider. This acquisition is expected to enhance the podcast offerings of Spotify. 

Slow internet speed and undeveloped telecom infrastructure in countries such as Iraq and Cuba, according to CMI analysis in October 2020 is expected to restrain the podcasting market growth during the forecast period.

Market Taxonomy

This report segments the global podcasting market on the basis of genre, format, and region. On the basis of genre, the global podcasting market is segmented into news & politics, society & culture, comedy, sports, and others. On the basis of format, the global podcasting market is segmented into interviews, panels, solo, repurposed content, and conversational. On the basis of region, the global podcasting market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Key features of the study:

  • This report provides in-depth analysis of the global podcasting market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global podcasting market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global podcasting market include Amazon.com, Inc., Spotify AB, Apple, Inc., Soundcloud Limited, TuneIn Radio, iHeartMedia, Inc., Google Podcasts, Stitcher, and Pandora Media, Inc.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global podcasting market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global podcasting market

Detailed Segmentation:

  • Global Podcasting Market, By Genre:
    • News & Politics
    • Society & Culture
    • Comedy
    • Sports
    • Others
  • Global Podcasting Market, By Format:
    • Interviews
    • Panels
    • Solo
    • Repurposed Content
    • Conversational
  • Global Podcasting Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa
  • Company Profiles
    • Amazon.com, Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Apple, Inc.
    • Google Podcasts
    • iHeartMedia, Inc.
    • Pandora Media, Inc.
    • Soundcloud Limited
    • Spotify AB
    • Stitcher
    • TuneIn Radio

Browse all the market data tables and figures on “Global Podcasting Market - Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Genre
      • Market Snippet, By Formats
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Solutions Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Analyst View on Impact of COVID-19 on Market
    • Short Term
    • Long term
  5. Global Podcasting Market, BY Genre, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment trends
    • News & Politics
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Society & Culture
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Comedy
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Sports
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  6. Global Podcasting Market, By Formats, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment trends
    • Interviews
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Panels
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Solo
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Repurposed Content
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Conversational
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Global Podcasting Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Genre, 2020–2027(US$ Million)
      • Market Size and Forecast, By Formats, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Genre, 2020–2027(US$ Million)
      • Market Size and Forecast, By Formats, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Genre, 2020–2027(US$ Million)
      • Market Size and Forecast, By Formats, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Genre, 2020–2027(US$ Million)
      • Market Size and Forecast, By Formats, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Genre, 2020–2027(US$ Million)
      • Market Size and Forecast, By Formats, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  8. Competitive Landscape
    • Company Profiles
      • com, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Apple, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Google Podcasts
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • iHeartMedia, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Pandora Media, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Soundcloud Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Spotify AB
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Stitcher
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • TuneIn Radio
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on “Global Podcasting Market -forecast to 2027”.

Frequently Asked Questions

The global market for Podcasting is expected to reach USD 27,744.4 Million by 2022.
Increasing proliferation of smartphones and low-cost internet is expected to drive growth of the global podcasting market during the forecast period.
News & Politics sub-segment holds the largest market share among Genre segment contributing 41.3% market share in terms of value in 2019.
Asia Pacific region hold the largest share in the global Podcasting market in 2019, accounting for 34.7% share in terms of value.
Key players operating in the global Podcasting market are Dassault Systems, PTC, Inc., IBM Corporation, Tech Mahindra Limited, Astea International, Inc., Wipro Limited, Oracle Corporation, Siemens AG, Tata Consultancy Service Limited, and Atos SE.
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