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Podcasting and Audiobooks Industry: Difference between revisions
Podcasting and Audiobooks Industry (view source)
Revision as of 10:51, 6 February 2023
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How does the 25.85b total podcast market breaks down into different segments, ads being one of those segments? | How does the 25.85b total podcast market breaks down into different segments, ads being one of those segments? | ||
== Podcast Traction == | == Podcast Traction in major companies== | ||
The rising podcast revenue of major companies such as Spotify and IHeartMedia is a testimony that the industry is growing. In 2021, Spotify's podcast revenue grew by 300% to reach $215 million. Similarly, IHeartMedia's podcast revenue rose by 149% to hit $253 million. Statista estimates that Spotify's podcast ad revenue in 2021 was $108.9 million. That is a growth rate of 108.62% year-over-year. Additionally, Statista projects that Spotify's podcast ad revenue will reach $414 million by 2024, almost four times the 2021's podcast revenue. Recently, Spotify's CFO Paul Vogel told the Financial Times that the company's podcast revenue in 2022 was "significantly higher." However, he did not disclose the specifics<ref>https://www.ft.com/content/d16058e7-03a3-4a34-bea5-590313196dd1</ref>. | The rising podcast revenue of major companies such as Spotify and IHeartMedia is a testimony that the industry is growing. In 2021, Spotify's podcast revenue grew by 300% to reach $215 million. Similarly, IHeartMedia's podcast revenue rose by 149% to hit $253 million. Statista estimates that Spotify's podcast ad revenue in 2021 was $108.9 million. That is a growth rate of 108.62% year-over-year. Additionally, Statista projects that Spotify's podcast ad revenue will reach $414 million by 2024, almost four times the 2021's podcast revenue. Recently, Spotify's CFO Paul Vogel told the Financial Times that the company's podcast revenue in 2022 was "significantly higher." However, he did not disclose the specifics<ref>https://www.ft.com/content/d16058e7-03a3-4a34-bea5-590313196dd1</ref>. | ||