Podcasting Market is Being Fueled by the News Genre Segment During the Forecast Period
The
increasing internet penetration, rising smartphone users, and the growing
popularity of podcasting through social media platforms will drive the global
podcasting market.
According to
TechSci Research report, “Podcasting Market – Global Industry Size, Share,
Trends, Competition, Opportunity, and Forecast, 2018-2028F” The global podcasting market
is expected to grow significantly owing to the increase in smartphone users and
the surging internet penetration in different countries. Moreover, the market
experienced high growth due to the rise in podcast popularity in developed
countries and the increase in podcast shows in regional content.
The rising number of working
individuals who prefer to listen to podcasts while traveling to the office
contributes to the podcasting market. The on-demand feature of the media is one
reason podcasts have increased in popularity. People are becoming increasingly
used to being able to watch according to their choice, whether a movie, a TV
show, music, the news, etc. They can choose from various podcasts available
online instead of listening to discussions on the radio.
Many podcasting companies
have begun offering customers subscription-based services, such as video
streaming services. Despite being in its infancy, audio-on-demand is expanding
rapidly in several languages, including Spanish, English, and others. For
instance, Spotify on Tuesday made its podcast subscription service available in
the United States, providing authors with more options for how to monetize
their work.
The global podcasting market
is seeing tremendous growth in the news segment. This is frequently caused by
the fact that the bulk of people regularly consumes these types of podcasts.
These podcasts typically involve a dialogue, lone news announcement, or panel
debate about current political problems. Podcasts about news and politics
provide listeners with exclusive content on current events, which explains why
they have become so popular.
In the podcasting market, the
sports category is expected to expand the fastest over the coming years. This
is due to numerous sporting events and sports enthusiasts all around the world.
Sports podcasters keep their audience interested by inviting their favorite
sports stars to discuss current events.
Browse over xx market data
Figures spread through xx Pages and an in-depth TOC on the "Global Podcasting Market".
The global podcasting
market is segmented on the basis of genre and format. On the basis of genre, the
market is segmented into news, comedy, sports, society & culture, health
& fitness, business, etc. Further, based on format, the market is split into
interview, solo, conversational, and repurposed content, including panels,
hybrid, etc.
On the basis of region, the
market is divided into North America,
Europe, Asia-Pacific, South America, and Middle East & Africa. Owing to the
region's significance and the quick adoption of new technologies among its
affluent consumer base, North America is expected to dominate the global
podcasting market. In response to the changing audio-on-demand podcasting
model, content providers are renovating their ad revenue streams and modifying
their platforms. Additionally, the US will have a substantial portion of the
global podcasting business. This might be linked to the area's pioneering use
of cutting-edge technologies and its diverse audience of people of all ages.
Key market players in the global
podcasting market include:
- Stitcher Media,
LLC
- TuneIn, Inc.
- SoundCloud
Global Limited & Co.
- Audacy, Inc.
- iHeartMedia
Inc.
- Apple, Inc.
- Pandora Media,
Inc.
- Amazon.com,
Inc.
- Liberated
Syndication, Inc.
- Podbean Tech,
LLC
Over the forecast period, the interview format
dominated the podcasting business. This can be attributed to interview
podcasts' exclusivity and originality. Each invitee or guest in each episode
brings new information, unique perspectives, and exciting experiences to share
with the audience. The interview approach also fosters various ideas and
opinions, igniting debates and boosting audience engagement.
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Since podcasts are becoming
increasingly popular, several brands have launched podcasting platforms,
creating high competition. Therefore, many businesses are either acquiring
rival brands or providing something distinctive to attract a large audience
base and differentiate themselves from others. For instance, Spotify acquired
podcast production house Gimlet Media in 2019 for USD 230 million and purchased
the Ringer Network in 2020.
"The increasing number
of smartphone users and the rise in internet penetration in different countries
drive the global podcasting market. Moreover, integrating artificial
intelligence in podcasting help brands target specific customers for better
reach. Additionally, the presence of regional content and the rise in podcast
shows in developing countries significantly drive the global podcasting market,”
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Podcasting Market Segmented
By Genre (News, Comedy, Sports, Society & Culture, Others (Health &
Fitness, Business, etc.), By Format (Interview, Solo, Conversational,
Repurposed Content, Others (Panels, Hybrid, etc.), By Region, Competition, Forecast
& Opportunities, 2018-2028F”
has evaluated the future
growth potential of podcasting market and provides
statistics and information on market structure, size, share, and future growth.
The report is intended to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities present in podcasting globally.
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