The global podcasting market size is expected to be worth around US$ 96.80 billion by 2030, according to a new report by Vision Research Reports.
The global podcasting market size was valued at US$ 13.20 billion in 2020 and is anticipated to grow at a CAGR of 32.1% during forecast period 2021 to 2030.
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Report Coverage
| Report Scope | Details |
| Market Size | USD 96.80 billion by 2030 |
| Growth Rate | CAGR of 32.1% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Genre, Format |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Amazon.com, Inc.; Apple, Inc.; iHeartMedia Inc.; Megaphone LLC; Pandora Media, LLC; Audacy, Inc.; Soundcloud Limited; Spotify AB; Stitcher; TuneIn, Inc. |
Growth Factors
Podcasting is an episodic series of digital media, often audio, that can be listened to or watched over the internet or downloaded on a device. The increasing popularity of audio-on-demand platforms is the primary factor driving the market growth. Other factors contributing to the market growth include minimal entry barriers for creators and easy accessibility for users, as they can listen to podcasts while performing tasks such as cleaning, walking, gardening, traveling, or exercising.
The recent evolution of podcasting content, wherein various creators are discussing undebated global scenarios, is bringing about numerous growth opportunities for the market growth. The subscriber base of podcasts pertaining to racism, patriarchy, and political disputes, among others, is significantly growing, thereby encouraging companies and creators to come up with more content that taps diverse audiences.
Report Highlights
The news and politics segment accounted for the largest revenue share of around 32.0% in 2020. This can be attributed to the high number of users listening to this genre on a day-to-day basis. The news and politics genre is popular in all types of formats, such as solo news bulletins, panel debates, and one-on-one conversations.
The sports segment is expected to witness the highest CAGR over the forecast period owing to the wide presence of avid sports fans globally. Leading market players are acquiring sports and entertainment content companies to enhance their sports content.
The interview format accounted for a revenue share of around 32.0% in 2020 and is expected to dominate the podcasting market over the forecast period. This can be attributed to the uniqueness and originality of interview podcasts.
The solo format is projected to expand at the highest CAGR of around 33.0% over the forecast period. In this format, the content is recorded by an individual who has expertise or knowledge in a particular field.
North America accounted for the largest revenue share of around 42.0% in 2020 and is expected to maintain its dominance over the forecast period. The U.S. alone held a revenue share of over 90.0% in the regional market in 2020.
Key Players
Market Segmentation
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