Global podcast market witnesses rapid growth in the pandemic, grosses $12 billion mark

While the podcast market is still a fairly new industry it has seen rapid growth all over the world during the pandemic.

Podcasts are digital audio files. We can even refer to them as episodes or series of spoken words. The global podcast market was worth nearly $10 billion in 2019. In the pandemic year this figure surged to $12 billion.

The United States is one of the most popular nations who listens to podcasts. Over 41% of the nation’s population are listening to podcasts at least once a month this year, compared to the 37% in 2020. A study has even reported that at least 3 of 4 people in America listen to podcasts to learn something new aside from news and entertainment.

There are presently more than two million active podcasts, this is a super jump when compared to the five hundred thousand back in 2018. The daily published by Newyork Times is the top most ranked podcast that there has ever been. Followed by NPR’ s News Now in second place and Up First at third.


While it’s still a fairly new market it has seen rapid growth all over the world. Its easy availability and accessibility during these turbulent times and the mundane humane activities such as walking, gardening, exercising, cleaning, driving etc. is what has sped up its market growth.

Presently staying indoors has spared people with a lot more free time hence giving them more time to explore and browse their pastime options thus leading to trying new mediums to find inspiration and motivation to keep going and this is where podcasts fit right in.

Several major streaming platforms such as Amazon, Apple, Spotify, YouTube have integrated podcasts onto their platforms and many influencers, bloggers, vloggers and even YouTubers have shifted from making short videos and posts to podcasting lately.

Not very long ago during the pandemic year Spotify AB tookover The Ringer, a platform that creates podcasts related to sports, culture and society inorder to expand their catalog and audience engagement. Spotify alone has spent a whopping $900 million on podcasts related acquisitions in the past year. Even Pandora Media, Inc with Fox News Network had announced their strategic partnership with respect to boosting news related podcasts on their platform.

Governments across the world have been encouraging podcasts and participating in them as well, especially during the pandemic largely because this segment does not require a special network or infrastructure. The existing basic infrastructure will suffice making it a very cost effective medium.

This new muse is here to stay and thrive. Globally it is predicted to reach a valuation of $60.50 billion by 2027 with an annual growth rate of 27.5%.

Podcasts have not only become a new medium of recreation and entertainment but also a way of sharing knowledge, information and raising awareness on major issues. The politics and news segment accounts for the highest revenue and market share that goes beyond 30% mostly because the consumers happen to listen regularly or on a daily basis.

Podcasts not only allow brand awareness but have great marketing value. A study by eMarketer has suggested that about 54% of listeners are more likely to buy a certain brand of products after listening to its ad on a podcast. By the end of 2023 the earnings through podcast advertisement is expected to go beyond $2 billion in the United States alone.

In the beginning ads were the only source of revenue for podcasters this hampered their business on a large scale as listeners weren’t very keen on listening to promotional messages during and in-between ongoing content. To overcome this several companies and podcasters even came up with several subscription offers and services along with crowdfunding that will enable users to pay for each episode on a monthly or yearly basis.