GVR Report cover Podcasting Market Size, Share & Trends Report

Podcasting Market Size, Share & Trends Analysis Report By Genre (News & Politics, Society & Culture, Comedy, Sports), By Format (Interviews, Panels, Solo, Conversational), By Region, And Segment Forecasts, 2021 - 2028

  • Report ID: GVR-4-68038-935-7
  • Number of Pages: 171
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2019
  • Industry: Technology

Report Overview

The global podcasting market size was valued at USD 11.46 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 31.1% from 2021 to 2028. Podcasting, also known as radio on demand, is a pre-recorded digital program that users can listen to or watch online through a subscription or download as a file on a playback device. The flexibility of listening to podcasts while doing other activities simultaneously is driving the market growth. Moreover, podcasting is widely used in teaching and educational learning as it offers an effortless delivery of audio learning resources. Audio broadcasting content has been around for nearly two decades. Earlier, audio content was available only on media players, computers, and iPods, with mainly radio shows being broadcasted on podcasts. Traditional devices with limited features made podcast content inaccessible for mobile phone users. However, the distinct format of podcasting has garnered attention over the past five years. Various advancements in smartphones, Bluetooth speakers, tablets, and laptops have augmented the growth of the podcasting industry.

U.S. podcasting market size, by genre, 2018 - 2028 (USD Billion)

The unfeasible economic model is one of the main concerns for publishers offering content on media streaming platforms. Since the introduction of podcasts, advertising has been the only revenue-generating method for content creators, however, it has failed to gain traction as the audience refrain from listening to advertisements between ongoing content. Nonetheless, brands are developing innovative schemes to evolve as a monetarily captivating channel. Content creators are proposing monthly subscription plans so that consumers can pay per episode or per month.

The introduction of Internet of Things (IoT), Artificial Intelligence (AI), and blockchain technologies has significantly impacted the market growth. Moreover, the incorporation of advanced technologies in content such as Autonomous Sensory Meridian Response (ASMR), modernization of transcription technology, and paid live podcast events are likely to drive the growth of the podcast industry. For instance, Spotify AB’s Spotify Ad Studio, a streaming media intelligence technology, allows advertisers to hyper-contextualize their information, ensuring that they reach the right people with the right content at the right time. With the help of this platform, the company aims to assist its global partners in the U.S., Canada, the U.K., Australia, and New Zealand with the most accurate ROI measurement, sales, and other conversion metrics.

During the COVID-19 pandemic, the podcast industry experienced a boom as the global population was encouraged to stay indoors owing to restrictions on traveling and visiting public places. The industry is estimated to grow further with the adoption of work-from-home policies worldwide, which has driven the demand for readily available entertainment content. News and media companies such as CNN Sans have also launched podcasts dedicated to providing timely updates on the COVID-19 pandemic. Furthermore, as stated by Spotify AB, content in genres such as health, lifestyle, and self-improvement, including meditation and personal wellness, has witnessed a rise in demand. The company has also launched a Spotify COVID-19 hub to consolidate relevant news and information about the pandemic and its impact.

Genre Insights

The news and politics segment accounted for the largest revenue share of around 30.0% 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. Nowadays, a large number of podcast listeners prefer news roundups and bulletins that summarize the daily events in 1 to 5 minutes and 5 to 10 minutes, respectively. Therefore, radio broadcasters and print journalists are widely using audio streaming channels to distribute their content.

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. For instance, in May 2020, Spotify AB announced the acquisition of The Ringer, a leading creator of entertainment and sports content. Since the acquisition, the sports podcast consumption of Spotify AB has increased exponentially. According to Spotify AB’s statistics published in 2020, the growth of sports podcasts increased by three times in the past 18 months, reaching up to 1,00,000 podcasts on the channel with 8,00,000 hours of sports content streamed daily on Spotify AB.

Format Insights

The interview format accounted for a revenue share of around 30.0% 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. Every guest or invitee in each episode carries new content, different ideas, and varied experiences that are both engaging and fascinating for the audience. Additionally, the interview format stimulates a variety of opinions and viewpoints, inspiring discussions and increasing the audience's participation.

Global podcasting market share, by format, 2020 (%)

The solo format is projected to expand at the highest CAGR of around 30.0% over the forecast period. In this format, the content is recorded by an individual who has expertise or knowledge in a particular field. Solo podcasts help in building a direct connection with the audience. Since the industry is booming, independent creators are foraying into the solo podcast format due to advantages such as ease of use and minimal investment, which mainly include a microphone and basic editing tools. Besides, the podcasting industry is witnessing content creators from various cultural backgrounds practicing their freedom of speech through this platform. For instance, prominent speakers are launching podcasts on platforms including Apple, Inc., to address the various unfair practices against black women community and how they have grown, overcoming these obstacles.

Regional Insights

North America accounted for the largest revenue share of around 40.0% 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. This dominant share is attributed to the prompt adoption of advanced technologies and a mature audience base in this region. Moreover, the market in Canada is growing in terms of audience size and engagement. The podcast advertising business in the country is evolving as publishers are focusing on enhancing their ad offerings while brands are incorporating the audio-on-demand podcast model into their platforms.

Latin America is anticipated to witness the highest CAGR of around 35.0% over the forecast period owing to the rapid adoption of digital devices coupled with increasing accessibility and popularity of podcast content. For instance, Brazilian journalist Renata Lo Prete presented O Assunto, a Brazilian current events podcast that was the most downloaded podcast in Latin America between September 2020 and November 2020. Besides, Latin America is expected to witness a rapid increase in the creation of content in Latin-Spanish. Around 500 billion Spanish-speaking people worldwide are majorly based in the U.S., Latin America, and Spain, which is expected to boost the demand for Spanish podcast creators as well as listeners.

Key Companies & Market Share Insights

The market is characterized by several players, including audiovisual groups creating innovative content and independent publishers producing native podcasts. The participants analyzed in this report are implied as the digital audio platforms offering content to the audiences. Prominent media players are collaborating with creators and independent publishers to offer original and raw content to capture a more significant audience share. For instance, in June 2020, Pandora Media, Inc. announced its collaboration with FOX News Network, LLC, a U.S.-based audio streaming service provider. This partnership aims to provide content produced by FOX News Podcasts, including the FOX News Radio Newscast and FOX Business Hourly Report, to the audiences of Pandora Media, Inc.

Furthermore, the increasing need to cater to worldwide audiences with varied linguistic backgrounds has created a demand for content in different languages. For instance, Apple Podcasts has added more languages in its platform for listeners to discover episodes and shows based on new audio transcripts, making it easier for them to find content in their language. Some of the key players operating in the global podcasting market are:

  • Amazon.com, Inc.

  • Apple, Inc.

  • iHeartMedia Inc.

  • Megaphone LLC

  • Pandora Media, LLC

  • Audacy, Inc.

  • Soundcloud Limited

  • Spotify AB

  • Stitcher

  • TuneIn, Inc.

Podcasting Market Report Scope

Report Attribute


Market size value in 2021

USD 14.25 billion

Revenue forecast in 2028

USD 94.88 billion

Growth Rate

CAGR of 31.1% from 2021 to 2028

Base year for estimation


Historical data

2018 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD Billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Genre, format, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Nordic Countries; China; South Korea; Australia; Mexico; Brazil

Key companies profiled

Amazon.com, Inc.; Apple, Inc.; iHeartMedia Inc.; Megaphone LLC; Pandora Media, LLC; Audacy, Inc.; Soundcloud Limited; Spotify AB; Stitcher; TuneIn, Inc.

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2028. For this study, Grand View Research has segmented the global podcasting market report based on genre, format, and region:

  • Genre Outlook (Revenue, USD Billion, 2018 - 2028)

    • News & Politics

    • Society & Culture

    • Comedy

    • Sports

    • Others

  • Format Outlook (Revenue, USD Billion, 2018 - 2028)

    • Interviews

    • Panels

    • Solo

    • Repurposed Content

    • Conversational

  • Podcasting Region Outlook (Revenue, USD Billion, 2018 - 2028)

    • North America

      • U.S

      • Canada

    • Europe

      • U.K.

      • Nordic Countries

    • Asia Pacific

      • China

      • South Korea

      • Australia

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

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