By Daniel

March 7, 2023

Podcast Industry
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Podcasting will be a $94.88 billion industry by 2028.

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We project 424.2 million Podcast Industry listeners worldwide in 2022, accounting for 20.3% of internet users.

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Get business insights on the latest tech innovations, market trends, and your competitors with data-driven research. Podcasts have been around for nearly two decades, but the format has come into its own over the last six years. A proliferation of shows, involvement from celebrity talent, investment from large companies like Spotify, and the spread of technologies that boost awareness, like smart speakers, have all helped podcast growth. By 2022, 20.3% of internet users around the world will be podcast listeners. – By 2022, 20.3% of internet users around the world will be podcast listeners. US podcast audience statistics Podcast listener numbers will see significant growth this year as demand for on-demand audio has increased. In 2022, the number of monthly US podcast listeners will increase by 6.1% year-over-year (YoY) to 125 million. Podcasts are mostly seeing traction among younger consumers—this year, more than 39% of US adults ages 18 to 34 will listen to podcasts monthly. However, as listeners get older podcast listenership drops. Out of consumers between the ages 35 to 44, about half will listen to podcasts monthly, and less than one-fifth of consumers over 65 will listen to podcasts each month.

Growth of the podcasting industry

The podcast industry is in a particular moment of creative and innovative renaissance, from content creation by publishers and hosts, to listener discovery. In 2022, the number of monthly US podcast listeners will increase by 6.1% year-over-year (YoY) to 125 million. Podcasts are growing outside of the US as well, and Latin America is a key region to watch given the rapid development of Spanish-language content. Additionally, tech companies are jockeying to become the No. 1 destination for podcast listeners, and the biggest players are Apple Podcast, YouTube, and Spotify. In October 2021, Spotify claimed that it had surpassed Apple Podcasts as the most popular podcast platform in the US, which was aligned with our estimates: that 28.2 million US internet users will listen to podcasts monthly on Spotify, compared with 28.0 million who will do so on Apple Podcasts. No figures have been released from either company to confirm.

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Podcast market projection statistics

Podcasts have been around for nearly two decades, but the format has come into its own over the last five years. As more and more podcasts have popped up, listenership has climbed. For the first time, more than half of all digital audio listeners will tune in to podcasts each month. By the end of 2025, there will be over 144 million monthly podcast listeners in the US. People are also spending more time with podcasts—among adult podcast listeners, time spent with podcasts in 2022 will increase by 16.1% YoY to a little more than 23 minutes per day. Like what you’re reading? Click here to learn more about Insider Intelligence’s leading Advertising, Media, and Marketing research.

Podcast advertising

The podcast audience is not only large and growing, but attractive: Listeners tend to be young, affluent, and educated, and generally open to advertising in podcasting. This is especially valuable for podcast ads, as the unreachable audience grows and advertisers may have more difficulty accessing younger audiences who are more likely to use technology like ad blockers across other forms of digital media. While the pandemic decelerated podcast ad spending growth, annual spend is on track to see overall growth. We expect US podcast ad spending to increase by 30.2% YoY in 2022. Next year, podcast ad spending in the US is set to surpass the $2 billion mark.

Podcasting: A Rapidly Growing Industry with Promising Projections for 2022 and Beyond

According to data from Statista, the podcasting industry is expected to reach a value of $1.7 billion in 2022 and continue to grow at an annual rate of 23.8% through 2026, ultimately reaching a value of $3.3 billion. The number of monthly podcast listeners in the United States is projected to increase by 6.1% YoY to 125 million in 2022, with over 39% of US adults between the ages of 18 and 34 listening to podcasts monthly.

Latin America is a key region to watch for podcast growth, with the region experiencing rapid development in Spanish-language content. Apple Podcasts, YouTube, and Spotify are currently the biggest players in the industry, with Spotify surpassing Apple Podcasts as the most popular podcast platform in the US in 2021.

Podcast advertising is also on the rise, with podcast listeners generally being young, affluent, and educated. According to Statista, podcast ad spending in the US is expected to reach $1.3 billion in 2021 and surpass $2 billion in 2023.

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  1. “The Podcasting Boom: Insights and Projections”

Podcasting is more popular than ever before, with millions of listeners tuning in every day. Statista predicts that the podcasting industry will reach a value of $1.7 billion in 2022, growing at an annual rate of 23.8% through 2026. This growth is being driven by a surge in interest from younger audiences, with over 39% of US adults between the ages of 18 and 34 listening to podcasts monthly. The rise of celebrity-hosted podcasts, investment from companies like Spotify, and the increasing availability of smart speakers are all contributing to the industry’s rapid growth.

  1. “Latin America: The Next Hotspot for Podcast Growth”

While the US remains the largest market for podcasting, Latin America is quickly catching up. The region is experiencing rapid development in Spanish-language content, with more and more listeners tuning in every day. According to Statista, Mexico and Brazil are two of the fastest-growing markets for podcasting, with both countries expected to have over 10 million monthly listeners by 2023. As the region’s middle class continues to expand and access to the internet becomes more widespread, experts predict that podcasting will become an increasingly popular form of entertainment.

  1. “Spotify vs. Apple Podcasts: The Battle for Podcast Supremacy”

Spotify and Apple Podcasts are currently the two biggest players in the podcasting industry, with both companies vying for the top spot. In 2021, Spotify claimed to have surpassed Apple Podcasts as the most popular podcast platform in the US, with 28.2 million US internet users listening to podcasts monthly on the platform. However, Apple Podcasts still holds a significant market share, with over 28 million monthly listeners in the US. With both companies investing heavily in original content and new features, the battle for podcast supremacy is sure to heat up in the coming years.

  1. “Podcast Advertising: The Key to Reaching Young, Affluent Audiences”

Podcast advertising is on the rise, with more and more companies recognizing the potential of reaching young, affluent audiences through the medium. According to Statista, podcast ad spending in the US is expected to reach $1.3 billion in 2021, with projections reaching $2 billion by 2023. This is due in part to the fact that podcast listeners are generally young, educated, and have high levels of disposable income. As traditional forms of advertising continue to face challenges from ad blockers and changing consumer habits, podcast advertising represents an increasingly attractive option for brands looking to reach their target audience.

  1. “The Creative Renaissance: The Future of Podcasting Content”

Podcasting has opened up a new frontier of creative expression, with hosts and publishers experimenting with new formats, themes, and styles. From true crime to comedy, history to politics, the range of topics covered in podcasts is diverse and ever-expanding. As the industry continues to grow, experts predict that we will see a continued renaissance of creative content, with new voices and perspectives emerging and new genres being explored. With the rise of niche podcasts and the increasing popularity of immersive storytelling, the future of podcasting content is limited only by the imaginations of its creators.

  1. “The Tech Race: Innovations and Investments in Podcasting”

As the podcasting industry continues to grow, companies are investing heavily in new technologies and features designed to enhance the listening experience. From personalized recommendations to advanced search algorithms, tech companies are racing to create the most user-friendly and intuitive podcast platforms. In addition to established players like Spotify and Apple Podcasts, newer platforms like Stitcher and Luminary are also making waves in the industry, offering unique features and subscription-based models. As the industry continues to evolve, it will be fascinating to watch how technology shapes the future of podcasting.

  1. “Podcasting as a Tool for Education and Activism”

While podcasts are often associated with entertainment and storytelling, they can also serve as a powerful tool for education and activism. From podcasts that explore social justice issues to those that teach listeners new skills and knowledge, the potential for podcasts to create positive change is immense. As the industry continues to grow and evolve, experts predict that we will see more and more podcasts focused on education and activism, serving as a platform for marginalized voices and underrepresented communities.

  1. “The International Market: Opportunities and Challenges for Podcasting”

While the US remains the largest market for podcasting, the industry is also experiencing rapid growth in other parts of the world. However, International expansion comes with its own set of challenges, including language barriers, cultural differences, and varying levels of technological infrastructure. As companies look to expand into new markets, they will need to carefully consider these challenges and develop strategies for overcoming them. With the potential for huge growth in markets like China and India, the international market represents a major opportunity for the podcasting industry, but success will require careful planning and execution.

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The podcasts listed are considered some of the best in their respective categories for a variety of reasons.

Here are a few:

  1. True Crime: Many people find true crime podcasts intriguing and captivating, and the podcasts listed have been praised for their thorough research, gripping storytelling, and attention to detail.
  2. Comedy: Laughter is a powerful tool for stress relief and mood improvement, and the comedy podcasts listed are known for their wit, humor, and ability to make listeners laugh out loud.
  3. News and Politics: Staying informed about current events is important, and the podcasts listed provide in-depth analysis and commentary on news and politics, helping listeners stay informed and engaged.
  4. Pop Culture: Pop culture podcasts offer a fun and entertaining way to stay up to date on the latest trends and happenings in movies, TV shows, music, and more.
  5. Business: Business podcasts provide valuable insights and advice on entrepreneurship, leadership, and management, making them valuable resources for anyone interested in business and personal development.
  6. Health and Wellness: Health and wellness podcasts offer tips and advice on how to live a healthy and balanced life, covering topics like nutrition, fitness, mindfulness, and mental health.
  7. Science and Technology: Science and technology podcasts explore the latest advancements and discoveries in science and tech, making them great resources for anyone interested in these fields.
  8. Sports: Sports podcasts provide in-depth analysis and commentary on the latest games and matches, helping listeners stay up to date on their favorite teams and players.

Do you think podcasts are the next revolution in the advertising industry?

Podcasting is a rapidly growing industry, with millions of listeners tuning in every day. With its large and growing audience, podcasting represents a significant opportunity for advertisers to reach their target audience. In fact, podcast advertising is on the rise, with more and more companies recognizing the potential of reaching young, affluent audiences through the medium. According to Statista, podcast ad spending in the US is expected to reach $1.3 billion in 2021 and surpass $2 billion in 2023.

However, it’s important to note that the advertising landscape is constantly evolving, and podcast advertising is just one piece of the puzzle. While podcasts offer a unique and intimate advertising experience, they are just one of many advertising channels available to brands. As the industry continues to grow and evolve, it will be interesting to see how podcasting fits into the broader advertising landscape and how advertisers continue to innovate and experiment with new forms of advertising.

How do podcasters make money in running podcasts?

Podcasters can make money in several ways, including:

  1. Advertising: One of the most common ways for podcasters to make money is through advertising. Podcasters can sell advertising space within their episodes or have a sponsor for their entire show. Advertisers pay for the opportunity to reach the podcaster’s audience, and the podcaster receives a fee for running the ads.
  2. Sponsorships: Some podcasters secure sponsorship deals with companies, which may include a variety of perks like free products or services, access to exclusive content or events, or direct financial compensation.
  3. Merchandise: Some podcasters create and sell merchandise related to their show, such as t-shirts, mugs, or other branded items.
  4. Crowdfunding: Some podcasters use crowdfunding platforms like Patreon or Kickstarter to solicit donations from fans who want to support their work. In exchange, donors may receive exclusive content or other perks.
  5. Affiliate marketing: Podcasters can earn a commission by promoting products or services and including links in their show notes or on their website. If listeners purchase a product or service using the link, the podcaster receives a percentage of the sale.

Overall, podcasters can make money through a variety of revenue streams, depending on their audience size, niche, and level of engagement with their listeners.

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There are many podcasts that started small but went on to become huge successes. Here are a few examples:

  1. “Serial” – This true crime podcast became a massive hit when it debuted in 2014, and its first season has been downloaded over 100 million times. The podcast started as a spinoff of the popular radio show “This American Life,” but quickly gained a following of its own.
  2. “My Favorite Murder” – Hosted by Karen Kilgariff and Georgia Hardstark, this true crime podcast started in 2016 with a small following but quickly gained popularity thanks to its unique blend of humor and true crime storytelling. It has since become one of the most popular podcasts in the genre.
  3. “The Daily” – This podcast from The New York Times started in 2017 and quickly became a must-listen for anyone interested in current events. The podcast offers a deep dive into a single news story each day, and its popularity has helped drive subscriptions to The New York Times.
  4. “How I Built This” – Hosted by Guy Raz, this podcast tells the stories of some of the world’s most successful entrepreneurs and how they built their businesses from scratch. The podcast started in 2016 and has since become one of the most popular business podcasts on the air.
  5. WTF with Marc Maron” – Hosted by comedian Marc Maron, this interview podcast started in 2009 and quickly gained a following thanks to Maron’s insightful and intimate interviews with fellow comedians and other celebrities. The podcast has since grown into one of the most popular interview shows on the air.

These are just a few examples of podcasts that started small but went on to become huge successes. They all share a commitment to quality content and a unique perspective that resonated with listeners, which helped them grow and become staples of the podcasting world.

Podcasting has exploded in popularity in recent years, with millions of listeners tuning in to their favorite shows every day. Here are some statistics on the podcasting industry:

  • In 2022, it’s estimated that there will be over 424 million podcast listeners worldwide, accounting for 20.3% of internet users.
  • Podcast advertising revenue is expected to surpass $2 billion in the US by 2023.
  • As of 2021, there are over 2 million active podcasts available, with over 48 million individual episodes.

For new podcasters looking to get started, here are a few things to keep in mind:

  1. Focus on quality content: In a crowded market, the best way to stand out is to offer something unique and valuable to your listeners. Focus on creating high-quality content that will keep your audience engaged and coming back for more.
  2. Be consistent: Consistency is key in podcasting. Set a regular schedule for your show and stick to it. This will help build an audience and keep them coming back for more.
  3. Engage with your listeners: Engage with your audience on social media, respond to emails and messages, and create opportunities for them to interact with your show. This will help build a loyal following and create a sense of community around your podcast.
  4. Stay up to date on industry trends: The podcasting industry is constantly evolving, so it’s important to stay up to date on the latest trends and developments. This will help you stay ahead of the curve and ensure that your show remains relevant and engaging.

As for the future of podcasting, experts predict continued growth and innovation in the industry. New technologies, platforms, and content formats will continue to emerge, creating new opportunities for podcasters and listeners alike. However, the industry is also becoming increasingly competitive, so new podcasters will need to be creative, focused, and committed to creating high-quality content in order to succeed.

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About the author 

Daniel

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