Growth opportunities in the podcast market look promising over the next six years. This is mainly due to increasing usage of the internet and the provision of great alternatives by podcasts for delivering lessons or research content for extending the support.
Podcast Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The accelerating penetration of the internet throughout the world, primarily in the Asian Pacific countries, is a crucial driver contributing to the growth of the podcast market. Consumers are largely adopting the podcasts for several applications like interviews, storytelling, talk and music show, sportscast, and education purposes, owing to less internet speed required by them as they are in the audio format. The use of podcasts has surged with time as it provides remarkable alternatives to deliver lessons or research content for the extension of the support. The International Podcast Association, in 2019, launched a podcast community to stimulate the success and growth of the organizations offering podcasts. IPA’s hidden mission is to raise the lifespan of all podcast-based products and podcasts, which has strengthened the podcast market share.
A report published by the New York City legal body states that New York, the epicenter of this industry, recorded 42.0 million weekly listeners in 2017. As podcasts are modified to accompany modern consumption patterns, it is predicted to boost the market share exponentially owing to the high demand for readily available entertainment content. However, the podcast market overview shows that the slow internet speed integrated with the low storage space issue are likely to curb the market size.
Genre Segment Drivers
Based on the genre, news and politics are anticipated to lead the market over the forecast period. News and politics have resulted in enormous growth opportunities for hosts and producers with new styles to deliver exclusive content on current affairs to the audience. Moreover, it is famous among all the formats, be it a solo news announcement, conversation, or a panel discussion over any latest subject.
Regional Drivers
Based on the region, North America is projected to lead the market during the forecast period. This is primarily owing to the early acquisition of modern technologies coupled with the vigorous prevalence of the leading market players such as Apple Inc., AMAZON.COM, INC., Megaphone LLC, IHeartMedia Inc., and Pandora Media, LLC, etc. which have bolstered the market growth.
Podcast Market’s leading Manufacturers:
- TuneIn, Inc.
- Spotify AB
- SOUNDCLOUD LIMITED
- Pandora Media, LLC
- IHeartMedia Inc.
- COM, INC.
- Stitcher
- Entercom Communications Corp.
- Megaphone LLC
- Apple Inc.
Podcast Market Segmentation:
Segmentation by Type:
- Interview
- Panels
- Solo
- Repurposed Content
- Conversational
Segmentation by Genre:
- News and Politics
- Society and Culture
- Comedy
- Sports
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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