Dramatic Change In The Podcast Market

Dramatic Change In The Podcast Market

Podcasts have been found as a highly successful new ay to reach the massive audience in recent years. What was initially audio content for nerds has long been successful worldwide. Younger people, in particular, appreciate hearing in-depth content on all kinds of topics from the field experts or enthusiasts. That is similar to streaming music regardless of the time of production. Whether lectures, interviews or news articles, podcasts are booming. They go more in-depth into subject areas than radio reports could ever do.

Surveys have long supported the triumph of podcasts. Around a third of the world’s population has already heard a podcast at least once. However, the penetration of the markets is entirely different. The biggest podcast fans live in South Korea, followed by Spain and Ireland. The USA is only fifth on this hit list, while Great Britain is only twelfth. Not only are the countries fighting for supremacy, but the providers have also recognized the attractiveness of podcasts and want to secure the largest possible market share.

Spotify Overtakes Apple

There was a spectacular changing of the guard at the beginning of the previous year. Spotify has already captured a market out of nowhere. The Swedish company has revolutionized music streaming and is at the forefront here. So it’s no wonder that you want to be part of the podcast as well. In 2020, Spotify overtook Apple, the leading provider to date. Since then, more people have been streaming their podcasts on Spotify. The company only introduced listening to the shows on its platform three years ago. But the impression is deceptive. After all, Apple is taking a two-pronged approach in this area. If you put the listeners of Apple Podcasts and Apple Music together, the tech group still tops the list of the largest providers.

Nonetheless, Spotify’s investments have paid off. Digitization once again picked up speed significantly in the previous year. During this time, many people discovered streaming for themselves and gave the podcast scene new impetus. Spotify itself once described its success in a letter to its shareholders as almost too good to be true. Although the company was the first provider of music streaming, it has so far managed to maintain the lead. That is all the more astonishing given that the Swedes have great competition with American tech giants such as Google, Apple and Amazon.

Spotify Overtakes Apple
Spotify Overtakes Apple

Listening to podcasts has increased by around a quarter year by year. It has become a permanent habit for much of the audio streaming community. By investing in this area, streaming providers can retain their customers even better. Statistics show that users who listen to podcasts spend almost twice as long on the platform as non-listeners. At the same time, they also hear more music than before. But the share of the total streaming still shows enormous potential. On Spotify, only 14 per cent of users listen to podcasts. The aim is to increase this value to 20 per cent because it seems clear that these users will sooner or later decide to take out a subscription.