Global Podcasting Market Report 2023: Increasing Penetration of the Internet Fuels the Sector

Dublin, May 30, 2023 (GLOBE NEWSWIRE) -- The "Podcasting Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global podcasting market grew from $20.14 billion in 2022 to $25.85 billion in 2023 at a compound annual growth rate (CAGR) of 28.4%. The podcasting market is expected to grow to $66.24 billion in 2027 at a CAGR of 26.5%.

Major players in the podcasting market are Amazon.com Inc., Apple Inc., iHeartMedia Inc., Megaphone LLC, Pandora Media LLC, Audacy Inc., Soundcloud Limited, Spotify AB, Stitcher, TuneIn Inc., Entercom Communications Corp, Liberated Syndication Inc., Podbean Tech LLC, PTC Inc., IBM Corporation, Tech Mahindra Limited, Wipro Limited, Oracle Corporation, Siemens AG, Tata Consultancy Services Limited, Atos SE, Libsyn, Blubrry, PodOmatic, Sirius XM Holdings and The Adecco Group.

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Podcasting refers to an audio series program made available in digital format for download or stream over the Internet. Podcasting is an easy and freely accessible service for the users to experience many genres like news, education, health, fitness, comedy, and fiction as well as industry updates and breakdowns that can be downloaded or streamed through the internet.

The main types of genres 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 formats such as interviews, panels, solo, repurposed content and conversational.

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 a 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.

North America was the largest region in the podcasting market in 2022. The regions covered in the podcasting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the podcasting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The increasing penetration of the internet is significantly contributing to the growth of the podcasting market. Internet penetration is increasing due to various reasons such as improved access to mobiles/smartphones, the emergence of new communication over the internet, and others. 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.

For instance, according to the statistics from DataReportal, the internet penetration rate in the USA was around 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.

The podcasting market includes revenues earned by entities by non-fictional storytelling podcast and theater podcast format. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Key Attributes:

Key Topics Covered:

1. Executive Summary

2. Podcasting Market Characteristics

3. Podcasting Market Trends And Strategies

4. Podcasting Market - Macro Economic Scenario
4.1. COVID-19 Impact On Podcasting Market
4.2. Ukraine-Russia War Impact On Podcasting Market
4.3. Impact Of High Inflation On Podcasting Market

5. Podcasting Market Size And Growth
5.1. Global Podcasting Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Podcasting Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Podcasting Market Segmentation
6.1. Global Podcasting Market, Segmentation By Genre, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• News And Politics
• Society And Culture
• Comedy
• Sports
• Other Genres

6.2. Global Podcasting Market, Segmentation By Format, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Interviews
• Panels
• Solo
• Repurposed Content
• Conversational

7. Podcasting Market Regional And Country Analysis
7.1. Global Podcasting Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Podcasting Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/e8kzfi

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• Global Podcasting Market