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Podcasting and Audiobooks Industry (view source)

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== Podcasting Industry ==
== Podcasting Industry ==
[[File:Number of podcast listeners worldwide from 2019 to 2024(in millions).png|thumb|653x653px]]
[[File:Number of podcast listeners worldwide from 2019 to 2024(in millions).png|thumb|653x653px|alt=|center]]
The podcasting industry is growing at a fast rate. Deloitte predicted that the industry willl grow by 30 percent to hit $1.1 billion in 2020<ref>https://www2.deloitte.com/us/en/insights/industry/technology/technology-media-and-telecom-predictions/2020/rise-of-audiobooks-podcast-industry.html/#endnote-18</ref>. Additionally, the company projected that by 2025, the podcasting industry will be worth more than $3.3 billion. According to Statista, there were 424.2 million podcast listeners worldwide in 2022. That number is projected to hit 504.9 million in 2024<ref>https://www.statista.com/statistics/1291360/podcast-listeners-worldwide/</ref><code><u>This source is not linking to a Deloitte source?Why is there this huge $95B market size number?</u></code>. The US is by far the largest podcasting market in the world. In 2022, the number of active podcast listeners in the US grew by 21.95% year-over-year to 100 million<ref>https://www.forbes.com/sites/bradadgate/2023/01/25/2022-was-another-record-year-for-podcasts/?sh=7bf7135e6bea</ref>. Podcasts makes revenue from different streams which include advertising, content marketing, merchandise, listener donations, subscriptions, events, and branded podcasts. Even though podcasting revenue breakdown into different segments are not publicly available, podcasting ad revenue makes up the largest portion of podcast revenue. WARC had projected that podcasts will generate $2.6 billion in advertising revenue in 2022<ref>https://www.insideradio.com/podcastnewsdaily/warc-s-global-ad-forecast-sees-podcast-revenue-climbing-19-in-2022/article_11325b6a-3519-11ed-91e6-5bc82f8a53a9.html</ref>. Similarly, a May 2022 report by Interactive Advertising Bureau and PricewaterhouseCoopers  
The podcasting industry is growing at a fast rate. Deloitte predicted that the industry willl grow by 30 percent to hit $1.1 billion in 2020<ref>https://www2.deloitte.com/us/en/insights/industry/technology/technology-media-and-telecom-predictions/2020/rise-of-audiobooks-podcast-industry.html/#endnote-18</ref>. Additionally, the company projected that by 2025, the podcasting industry will be worth more than $3.3 billion. According to Statista, there were 424.2 million podcast listeners worldwide in 2022. That number is projected to hit 504.9 million in 2024<ref>https://www.statista.com/statistics/1291360/podcast-listeners-worldwide/</ref><code><u>This source is not linking to a Deloitte source?Why is there this huge $95B market size number?</u></code>. The US is by far the largest podcasting market in the world. In 2022, the number of active podcast listeners in the US grew by 21.95% year-over-year to 100 million<ref>https://www.forbes.com/sites/bradadgate/2023/01/25/2022-was-another-record-year-for-podcasts/?sh=7bf7135e6bea</ref>. Podcasts makes revenue from different streams which include advertising, content marketing, merchandise, listener donations, subscriptions, events, and branded podcasts. Even though podcasting revenue breakdown into different segments are not publicly available, podcasting ad revenue makes up the largest portion of podcast revenue. WARC had projected that podcasts will generate $2.6 billion in advertising revenue in 2022<ref>https://www.insideradio.com/podcastnewsdaily/warc-s-global-ad-forecast-sees-podcast-revenue-climbing-19-in-2022/article_11325b6a-3519-11ed-91e6-5bc82f8a53a9.html</ref>. Similarly, a May 2022 report by Interactive Advertising Bureau and PricewaterhouseCoopers  


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  With more revenue comes more podcasts and content creators. It is estimated that there are over 5 million podcasts in the world<ref>https://www.demandsage.com/podcast-statistics/</ref>. Spotify and Apple indicate that they have over 5 million and 2.5 million podcasts, respectively<ref>https://seekingalpha.com/article/4573901-spotify-technology-s-spot-q4-2022-earnings-call-transcript
With more revenue comes more podcasts and content creators. It is estimated that there are over 5 million podcasts in the world<ref>https://www.demandsage.com/podcast-statistics/</ref>. Spotify and Apple indicate that they have over 5 million and 2.5 million podcasts, respectively<ref>https://seekingalpha.com/article/4573901-spotify-technology-s-spot-q4-2022-earnings-call-transcript


https://nealschaffer.com/podcast-statistics/</ref>. However, Listen Notes estimates that there are at least 3 million active podcasts globally<ref>https://www.listennotes.com/podcast-stats/</ref>. Luminate's Podcast 360 report indicates that listening is the main mode of podcast-consumption. According to the report, 83% of its respondents purely listen to podcasts while 53% like to watch instead<ref>https://mobile-magazine.com/articles/youtube-named-as-the-worlds-most-used-podcast-platform</ref>.  
https://nealschaffer.com/podcast-statistics/</ref>. However, Listen Notes estimates that there are at least 3 million active podcasts globally<ref>https://www.listennotes.com/podcast-stats/</ref>. Luminate's Podcast 360 report indicates that listening is the main mode of podcast-consumption. According to the report, 83% of its respondents purely listen to podcasts while 53% like to watch instead<ref>https://mobile-magazine.com/articles/youtube-named-as-the-worlds-most-used-podcast-platform</ref>.  
=== Podcasting Market Size ===
According to the market figures, the worldwide podcasting market will be worth $30.03 billion In 2024 and is expected to increase at a compound annual growth rate (CAGR) of 27.6% between 2023 and 2030.
Taking that CAGR into consideration, the podcast market size would be 38.36 billion in 2025 and 131.13 billion in 2030.
{| class="wikitable"
!Year<ref>https://www.demandsage.com/podcast-statistics/</ref>
!Podcast Industry Market Size
|-
|2023
|23.56 billion
|-
|2024*
|30.03 billion
|-
|2025*
|38.36 billion
|-
|2026*
|49.03 billion
|-
|2027*
|62.71 billion
|-
|2028*
|80.07 billion
|-
|2029*
|102.53 billion
|-
|2030*
|131.13 billion
|}


=== <big>Ad Revenue</big> ===
=== <big>Ad Revenue</big> ===
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== Who are the main podcast players? ==
== Who are the main podcast players? ==
[[File:Market share.png|thumb|656x656px]]
[[File:Market share.png|thumb|743x743px|alt=|center]]
The leading podcast players globally are Spotify and Apple. According to a recent Triton report, Spotify is the top podcast player in terms of listeners, with a 38.4% market share. Apple Podcasts follows it with an 11.5% market share. However, when it comes to the number of podcast downloads, Apple leads with a 52.9% market share, followed by Spotify with 11.8%<ref>https://tritonrankers.com/2022%20U.S.%20Podcast%20Report.pdf</ref>.
The leading podcast players globally are Spotify and Apple. According to a recent Triton report, Spotify is the top podcast player in terms of listeners, with a 38.4% market share. Apple Podcasts follows it with an 11.5% market share. However, when it comes to the number of podcast downloads, Apple leads with a 52.9% market share, followed by Spotify with 11.8%<ref>https://tritonrankers.com/2022%20U.S.%20Podcast%20Report.pdf</ref>.


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