Podcasting and Audiobooks Industry: Difference between revisions

The podcasting industry is growing at a fast rate. The global podcasting market size is forecasted to grow at a '''compound annual growth rate (CAGR) of 26.5% to reach $66.24 billion in 2027.''' '''The market size currently stands at $25.85 billion'''<ref>https://www.thebusinessresearchcompany.com/report/podcasting-global-market-report</ref> and was projected to generate  '''$2.6 billion in advertising revenue in 2022''' by WARC<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>'''.''' It is estimated that there were '''424.2 million podcast listeners worldwide in 2022'''. That number is projected to hit '''504.9 million in 2024'''<ref>https://www.insiderintelligence.com/insights/the-podcast-industry-report-statistics/</ref>'''.''' 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>. A report by Interactive Advertising Bureau and PricewaterhouseCoopers indicated that the '''US podcasting business generated $1.4 billion in advertising revenue in 2021 and was forecasted to exceed $2 billion in 2022 and $4 billion by 2024'''<ref>https://www.iab.com/insights/u-s-podcast-advertising-revenue-report-fy-2021-results-2022-2024-growth-projections/</ref>'''.'''