PODCAST MARKET REPORT: Podcasting will be a $1 billion industry by 2021– here’s how Spotify, Apple, and others are innovating to make it occur and where brand names suit

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Podcasts have been around for almost 20 years, but the format has actually entered its own over the last 5 years. An expansion of programs, participation from celeb skill, investment from large business like Spotify, and the spread of innovations that enhance awareness, like wise speakers, have all assisted the medium bloom.

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In the United States, eMarketer approximates there will be 1056 million month-to-month active podcast listeners by the end of 2020, more than double the 45.8 million regular monthly listeners in 2015.

This listenership spike has brand names interested– by 2021 podcast advertisement invest is anticipated to more than double its 2018 overall in the United States. United States advertisers will spend more than $ 1 billion on podcast advertising in 2021, up from $479 million in 2018, per PwC and IAB estimates.

That’s since the podcast audience is not only big and growing, however attractive: Listeners tend to be young, wealthy, and informed, and generally open up to marketing in podcasting. This is specifically valuable as the inaccessible audience grows, and marketers may have more difficulty accessing more youthful, upscale, and educated audiences who are more likely to use innovation like advertisement blockers throughout other forms of digital media.

The podcast market is in a particular minute of imaginative and innovative renaissance, from content creation to discovery. In this report, Organization Insider Intelligence will supply an in depth look at the podcast industry, focusing particularly on crucial chauffeurs of its current boom and the audiences that are pushing it to new heights.

The supreme goal of this report is to give readers a clear understanding of how the major players and components of podcasting function so that brand names can quicker benefit from the numerous opportunities this dynamic digital media format provides.

The business discussed in this report are: AdvertiseCast, Alphabet, Anchor, Apple, Barstool Sports, Bonobos, Disney, Gimlet Media, Google, Greater Ground, iHeartRadio, Star, Midroll, Netflix, The New York Times, NPR, Pandora, Parcast, PodGrid, PRX, The Ringer, Sirius XM, Spotify, Stitcher, This American Life, Unilever, The Washington Post, Wondery, YouTube

Here are a few of the crucial takeaways from the report:

  • Podcasts have actually been around for almost two decades, however the format has only just got in the mainstream.
  • Podcasts are growing outside of the United States too, and Latin America is a key area to watch provided the fast development of Spanish-language content.
  • Tech companies are jockeying to end up being the No. 1 location for podcast listening, and the biggest players are Apple, YouTube, and Spotify.
  • At one time brands were reluctant to spend on podcast advertising, however the current boom in listenership has actually changed those notions.
  • The podcast audience most likely interest brands since listeners are often highly engaged and rather receptive to ads.
  • Brand names have numerous options when it pertains to marketing on podcasts, however the most critical thing is to make sure that a picked program lines up with their brand.

Completely, the report:

  • Explains the podcast audience, both in the United States and abroad, with particular focus on a crucial growing area: Latin America.
  • Breaks down the major platforms contending for audio dominance, with special focus on the crucial innovation locations driving listener uptake: Discovery and Original Content.
  • Dives into the marketer opportunity, layng out the very best entry points for brand names seeking to capitalize on this growing market.

Interested in getting the full report? Here’s how to get access:

  1. Purchase & download the full report from our research study store.>> Purchase & Download Now
  2. Inspect to see if you currently have access to Company Expert Intelligence through your company, or ask about gain access to if you do not.>> Inspect If You Have Enterprise Access
  3. Present subscribers can check out the report here

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Post Author: Izabella Jaworska

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