Global Podcasting Market Analysis Report 2022: A $58.31 Billion Market in 2026 - Long-term Forecasts to 2031
DUBLIN, Oct. 5, 2022 /PRNewswire/ -- The "Podcasting Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
North America was the largest region in the podcasting market in 2021. The regions covered in the podcasting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of genre in podcasting are news and politics, society and culture, comedy, sports and others. News and politics podcasting keeps listeners updated with local, national, or global news or politics, often focusing on a specific topic with the use of existing media sources like newspapers or magazines.
These are intended to inform or entertain or advocate for a cause for the audience who are usually interested in current affairs and programs that are usually half an hour to an hour in length. Podcasting is offered in format such as interviews, panels, solo, repurposed content and conversational.
During the COVID 19 pandemic, most of the people shifted online for online communications, entertainment, e-learning, podcasts, and other purposes as they were home due to lockdowns. The increasing penetration of the internet significantly creates demand for podcasting as it is part of online learning and entertainment.
For instance, according to the statistics from DataReportal, the internet penetration rate in the USA was aroud 92.0% in 2022, which increased by 2.8% reaching 8.4 million internet users between 2021 and 2022. Similarly, the internet penetration rate in the UK was around 98.0% in 2022, which increased by 0.4% reaching 300 thousand internet users between 2021 and 2022. Therefore, the increasing penetration of the internet will drive the growth of the podcasting market.
Technological advancement is a key trend gaining popularity in the podcasting market. Key players in the podcasting market are focusing on incorporating advanced technologies such as artificial intelligence (AI) into their podcast/platforms to enable improvements such as programmatic podcasts, transcription, optimization, advertising, and others.
Such integration of technology enables podcasting platforms to earn additional revenue through advertisements while targeting the right listeners. For example, in December 2021, HT Media Limited, an India-based mass media company partnered with an US-based technology provider of advertising solutions AdsWizz, to create India's first programmatic podcast marketplace. The use of technology combines the strength of programmatic advertising with the power of podcasts, allowing advertisers get a chance to reach their target audience.
Additionally, with the use of AI Transcription Technology, advertisers can make sure brand protection with the aid of most effective serving advertisements to podcast shows or episodes that have precise subjects as a principal theme. It also helps podcasters who are looking to create monetizable content.
The deal also makes Sirius XM the premier full-service platform for podcast creators, publishers, and advertisers. Stitcher is a US-based media company that specializes in creating, distributing, and monetizing podcasts.
Major players in the podcasting market are
Key Topics Covered:
6.2. Global Podcasting Market, Segmentation By Format, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7. Podcasting Market Regional And Country Analysis
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SOURCE Research and Markets