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), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68038-935-7
  • Number of Report Pages: 110
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Technology

Research Methodology

A three-pronged approach was followed for deducing the podcasting market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for podcasting market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of podcasting market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Podcasting Market Categorization:

The podcasting market was categorized into four segments, namely genre (New & Politics, Society & Culture, Comedy, Sports), format area (Interviews, Panels, Solo, Repurposed Content, Conversational), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The podcasting market was segmented into genre, format area, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The podcasting market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into nine countries, namely, the U.S.; Canada; the UK.; Nordic Countries; China; South Korea; Australia; Mexico; and Brazil.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

podcasting market companies & financials:

The podcasting market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Spotify Technology S.A. - Spotify Technology S.A., a Swedish company, was founded in 2006 and launched in 2008. The company is one of the leading video streaming platform providers and a platform for creating podcasts, digital music, and videos from artists worldwide. At the end of 2021, the company had 180 million premium subscribers, up from 138 million subscribers in 2020. The company’s ‘Spotify Connect’ offering lets customers connect across different devices, including phones, speakers, T.V.s, tablets, cars, and computers. The content offered by the company is listenable worldwide across 93 countries and territories, and its branch offices are located in Belgium, Germany, Canada, Denmark, Spain, Finland, France, Italy, Netherlands, and India. 

  • Amazon.com, Inc. - Headquartered in the U.S., Amazon.com, Inc. are global e-commerce, digital streaming, cloud computing, and artificial intelligence. The company offers its products and services on websites, Alexa, mobile applications, streaming, devices, and its stores and operates mainly through international, North America, and Amazon Web Services (AWS). In addition, the company develops and produces media content and manufactures and sells electronic equipment and devices, including Fire TV, fire tablet, ring, kindle, echo, and others, and has marked its presence across the globe. Amazon Music is a music streaming online store launched in 2007. As of January 2020, Amazon Music had around 55 million subscribers. The premium subscription to Amazon Music Unlimited offers over 60 million songs, including new releases and classic hits. 

  • Apple Inc. - Headquartered in the U.S., Apple Inc. is a producer, manufacturer, and distributor of personal computers, tablets, accessories, smartphones, wearables, and other related services, and is segmented into America, Europe, Greater China, Japan, and the Rest of Asia Pacific. The company's product portfolio includes iPad, Mac, iPhone, wearables, home & accessories, advertising, Apple care, cloud services, digital content, and payment services. It offers products and services to consumers, educational institutions, government, enterprises, and small & mid-sized businesses. The company has marked its global presence. Apple Inc. operates via multiple platforms, such as the App Store, specifically for customers to discover and download digital content and applications, such as music, games, books, videos, and podcasts. In addition, the company offers a digital-based range via subscription-based services, including Apple Music, offering the audience with a systematic listening experience with on-demand radio stations; Apple Arcade, a game subscription service; Apple TV, providing original content; and Apple News, a subscription magazine and news service. 

  • iHeartMedia, Inc. - Headquartered in the U.S., iHeartMedia, Inc. is an American mass media corporation specializing in radio broadcasting. The company provides media and entertainment services through digital delivery and broadcasting, such as network businesses through the audio segment. The company also sells local and national advertising time on the radio stations. The company's services are available across over 250 platforms, including networks, podcasting, and events, and 2,000 devices such as smartphones, TVs, smart speakers, and gaming consoles. The company's reportable segments for audio & media services are RCS, a webcast and broadcast software provider, and Katz Media Group, a media representation company. The company's streaming product iHeartRadio is a cost-free mobile application and web-based service that enables users to access their favorite radio stations, custom artist stations, digital-only stations, and podcasts. iHeartmedia, Inc. offers its services across the U.S. and Canada. 

  • Megaphone LLC -  Headquartered in the U.S., Spotify’s Megaphone LLC is an online media company offering podcast hosting platforms. The company provides publishers with ad insertion and hosting services and targeted ad sales for brand partners. In addition, the company provides podcasting, audio production, audio-on-demand, order management, audience measurement, podcast advertising, integrated brand involvement, and ad revenue generation services. The company provides its products and services across the U.S. In November 2020, Spotify Technology S.A. acquired Megaphone LLC to provide scale to podcast advertisers and ad value for publishers. 

  • Pandora Media, LLC - Headquartered in the U.S., Pandora Media, LLC, a Sirius XM Radio Inc. subsidiary, is an internet-based music discovery platform. The company offers a personalized experience to over 70 million users every month with podcast genome project technology and music genome project through websites, mobile applications, and over 2,000 connected devices. The company operates and offers its services across the U.S. In February 2019, Sirius XM Radio Inc. completed its acquisition of Pandora Media, LLC With the acquisition, Sirius XM Radio Inc. aims to reach over 100 million users across its audio offerings. 

  • Radio.com by Audacy, Inc.  - Headquartered in the U.S., Radio.com, a subsidiary of Entercom Communications Corp., offers scale by uniting the listening experiences of the complete portfolio of stations, shows, talent, and leading podcasts. Entercom Communications Corp., a multi-platform entertainment and audio content company, offers original, live, local, new, and premium audio content in the U.S. and specializes in providing a portfolio of sports news and radio on sports stations. The company operates and offers its services across the U.S. market. In March 2021, the company changed its name to Audacy, Inc. 

  • SoundCloud Limited - Headquartered in Germany, SoundCloud Limited is an audio distribution platform for artists. The company offers over 250 million tracks, audio, and podcasts from over 30 million performers and artists from 190 countries. In addition, the company provides music and audio creators with monetization and shares their content across a wide range of audiences. In February 2020, SiriusXM Holdings Inc. invested USD 75 million in SoundCloud Limited. The company would deploy this investment in accelerating and enhancing product development and services to empower the listeners and creators of podcasts. 

  • Stitcher - Headquartered in the U.S., Stitcher, a subsidiary of Sirius XM Radio Inc., is a distributor, creator, and platform provider for monetizing podcasts. The company offers sales and distribution of over 300 shows. The company has over 50 original shows and is a crucial participant in offering documentary network 'Witness Docs' and comedy podcasts networks including Earwolf (Comedy Bang! Bang! How Did This Get Made, Office Ladies). The company offers talk radio, podcasts, distribution, advertising, broadcasting, audio broadcast, internet radio, mobile apps, podcast production, and other services. In July 2020, Snitcher was acquired by Sirius XM Radio Inc., a media company. With the acquisition, Sirius XM Radio Inc. will deploy the mobile listening app, the company's original content, and the Midroll Media network for podcast advertising. 

  • Tunein, Inc. - Headquartered in California, the U.S., TuneIn, Inc. is an on-demand and live streaming audio platform service, collaborating music, news, sports, radio, and podcasts worldwide. The company has 75 million active users along with over 1 lac partnered and owned & operated radio stations with over 5.7 million podcasts. The company's distribution network works across 200 connected devices and platforms. The company provides its service in the U.S.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Podcasting Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Podcasting Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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