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Podcasting and Audiobooks Industry: Difference between revisions
Podcasting and Audiobooks Industry (view source)
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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>. Given that YouTube is easier to use compared to platforms such as Spotify and Apple, the majority of podcast listeners prefer it. A 2022 survey by Cumulus Media found that 24.2% of its podcast respondents listen to YouTube, followed by Spotify Podcasts (23.8%) and Apple Podcasts (16%)<ref>https://www.globenewswire.com/en/news-release/2022/05/17/2445394/9032/en/Podcast-Watching-Soars-as-YouTube-Edges-Out-Spotify-to-Become-the-Most-Used-U-S-Podcast-Platform-According-to-Cumulus-Media-and-Signal-Hill-Insights-Podcast-Download-Spring-2022-Re.html</ref>. There have been rumours that Google will soon launch a podcast on YouTube Music, but there hasn't been formal communication from Alphabet's subsidiary yet. Instead, Its podcasts are only available on the YouTube website or app and YouTube Premium<ref>https://scoreahit.com/does-youtube-music-have-podcasts/</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>. Given that YouTube is easier to use compared to platforms such as Spotify and Apple, the majority of podcast listeners prefer it. A 2022 survey by Cumulus Media found that 24.2% of its podcast respondents listen to YouTube, followed by Spotify Podcasts (23.8%) and Apple Podcasts (16%)<ref>https://www.globenewswire.com/en/news-release/2022/05/17/2445394/9032/en/Podcast-Watching-Soars-as-YouTube-Edges-Out-Spotify-to-Become-the-Most-Used-U-S-Podcast-Platform-According-to-Cumulus-Media-and-Signal-Hill-Insights-Podcast-Download-Spring-2022-Re.html</ref>. There have been rumours that Google will soon launch a podcast on YouTube Music, but there hasn't been formal communication from Alphabet's subsidiary yet. Instead, Its podcasts are only available on the YouTube website or app and YouTube Premium<ref>https://scoreahit.com/does-youtube-music-have-podcasts/</ref>. | ||
== Who are the main podcast players? == | |||
[[File:Market share.png|thumb|808x808px]] | |||
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 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>. | |||
== Podcast Traction in major companies== | == 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>. | ||