Despite consumers’ innate attraction to visuals, the market for podcasts has continued to grow since 2000 for many reasons.
First, podcasts are a convenient source of information that has helped listeners find people with similar interests. Podcasting also enables creators and businesses to generate income online while reaching target customers.
However, the podcasting industry is constantly evolving as new platforms appear on the scene every year. As a result, creators and businesses must keep up with the trends to stay relevant in the industry.
This article covers essential podcast statistics and their implications for creators. It also includes possible suggestions for enhancing your podcasts.
So, let’s get into it.
According to a report by Insider Intelligence, podcasting is anticipated to be a $94.8 billion market by the year 2028. This projection is based on current podcast statistics, historical data, and growth over the years.
What this means is that it is never too late to start a podcast, whether for your business or as a creator. It is not going down anytime soon.
Instead, there are more tools and resources to grow, manage, and monetize your podcast than ever before.
The best part is that the number of podcast listeners keeps growing yearly. You don’t have to take my word for it, see the stat below.
Going by the average number of podcast listeners and projections for the future, it is safe to assume that the industry has a bright future ahead.
According to Statista, the number of podcast listeners worldwide as of 2019 was about 275 million. In 2021, the number of worldwide listeners increased to about 384 million. That’s almost a 40% increase in users since 2019.
Experts expect the industry to see an 84% increase by 2024. Statista reports that there will be about 505 million podcast listeners by 2024.
And just as the number of podcast listeners is on the rise, so is the number of podcasts.
In 2022, around 79% of the population over 12 were familiar with the podcasts, and 62% of the population listened to a podcast.
73% of the population in the United States who are 12 or older has listened to audio online in the past month.
Over 104 million regular podcast listeners in the United States make up more than one-third of the population.
According to Podcast Insights, there are already more than two million podcasts that are actively being broadcast in 2022.
While the number of podcast episodes on the internet is about 69 million at the moment. Interestingly, only a little more than a fourth of that number existed only three years ago.
This statistic does not reflect the total number of podcasts that have ever been produced; rather, it indicates the number of podcasts that are currently available worldwide (and solely for Apple podcasts).
Do not be discouraged by the seemingly endless number of podcasts available; instead, use that fact as motivation to create your very own.
Even though podcasting is becoming increasingly popular, there is still enough room for engaging podcasts.
This is a very common question that we get a lot but there is no one-finite answer. The statistics for average length vary across genres. However, the average length of most podcasts is between 25 and 30 minutes.
Also, 40% of non-listeners in some polls believe that the time spent on each episode is excessive. This is one of the most significant challenges that podcast producers and listeners face in the modern era.
The length of the show is causing producers to stress because they fear that listeners will not be willing to commit to listening to the entire thing.
At the same time, podcast listeners want entertaining and informative podcasts that don’t take too long to get through.
If you are just getting started with podcasting, it is in your best interest to make your shows brief and to the point. Once you have a dedicated following of listeners, you can make your episodes a little longer, and your audience will continue to tune in no matter what.
Because podcasts lose anywhere from 20 to 35 percent of their listeners in the first five minutes of an episode, the most important thing is to ensure that you hook your listeners as soon as you start.
eMarketer forecasted that Spotify would eventually take up Apple’s market share in the podcast industry, and it happened. As of 2021, Spotify had a leading market share of 31.7% ahead of apple.
Since 2020, Spotify has been the app used to listen to podcasts the most frequently by podcast listeners in the United States. Specifically, 25 percent of podcast listeners aged 18 or older said they used Spotify to listen to podcasts.
In the meantime, only 20% of adults reported using Apple Podcasts, which is a decrease from the previous year’s usage rate of 21%.
Google Podcast has the least market share, with only 2.9% of the overall market share for podcasts. However, with Google’s impact, this could rise in the future.
Producers must maintain a close eye on this platform and make any necessary adjustments to their approach.
If you are a creator looking for a large audience, you may consider Spotify. That is because the app has a massive user base and untapped potential.
In October 2020, Statista reported that the most popular podcast genre in the United States was comedy. 22% of respondents to a study stated that they were very interested in podcasts that make them laugh.
These respondents indicated that comedy-themed podcasts were of high interest to them. News podcasts and those based on true crimes were other popular options, as were podcasts about sports, health, fitness, and other related topics.
National Public Radio (NPR), which typically attracts a one-of-a-kind monthly audience of more than 20 million listeners, is one of the leading publishers in the United States.
NPR ranks among the top podcast publishers globally, gathering millions of unique streams and downloads each month. It’s top ranking in the world is mainly due to the reputation and influence it has gained through the vast following it has built up in the United States.
The popularity of NPR in the United States may be credited to the originality of its material. NPR features a number of podcasts where they provide listeners with a combination of entertaining content and valuable information that has grown popular among listeners.
iHeartRadio follows NPR on the list of top podcast publishers in the United States. They have good numbers of listeners and downloads in both the United States and throughout the world.
It may please you to know that iHeartMedia, the parent company of the podcast publisher, filed for bankruptcy in 2018. Surprisingly, the company emerged with revenue of over 3.68 billion U.S. dollars at the end of the following year, thanks to podcasting.
This is evidence that podcasts can be a lucrative source of revenue for creators.
According to the results of The MIDAS Survey, the most popular time of day to listen to podcasts is between 8:15 and 8:30 in the morning. Another favorite time is between 11 and 11:15 in the morning and then again around 5:30 in the evening.
Unlike what most people think, many people complete their podcast episodes. According to the results of The MIDAS Survey, around 65 percent of podcast listeners consume the content in its entirety.
What’s even more astounding is that 68% of people who download podcasts practically listen to all the episodes they’ve downloaded.
Also, most of them did not wait for an excessive amount of time before they began listening to the episode they had downloaded. The survey results showed that fifty percent of respondents listened to the episode within twenty-four hours of downloading it.
Less than 10% of respondents agree they listen to downloaded episodes a week after their downloads.
74% of podcast listeners do so to gain new knowledge, while other listeners frequently do so for amusement, staying current, unwinding, or gaining inspiration.
The question of why people don’t listen to podcasts is as crucial. A little less than half of people who don’t listen to podcasts say they don’t know where to look for them. Others, however, say they feel overwhelmed by the sheer amount of time required and the variety of episodes available.
The key takeaway is that you must make your podcasts attractive to your audience and provide them with something of value. If your audience finds you interesting, they will likely keep coming to hear from you.
In addition to this, your podcasts should be easily accessible to those that need them. Ideally, it should be searchable through the primary podcast directories.
Finally, it may seem like stating the obvious, but making podcasts with studio-quality audio is also essential. According to a survey, one-third of respondents agreed poor podcast quality is why they don’t listen to podcasts.
The cell phone is unquestionably the most popular device for listening to podcasts, while the car radio system is the least preferred choice. Most podcast listening hours are consumed on mobile devices (79%)!
Laptops, which account for 15% of all device usage, are in the number two slot. Even though voice-activated speakers are only used for 2% of podcast listening, the rise in popularity of smart speakers is notable. It may cause listeners to modify the way they consume podcasts in the future.
The number of households that own smart speakers has climbed by more than 20% in the past year. This provides listeners with additional opportunities to explore new podcasts.
Podcasting is marginally more popular with men than women in the U.S. and the U.K. According to the results of the MIDAS Survey, in the year 2020, 54% of men and 46% of women listen to podcasts in the U.K.
The situation is the same in the United States, but with a little difference. In 2021, the percentage of men who listened to a podcast in the previous month was 53%, compared to 46% of women, according to Statista.
Consequently, if you are thinking of producing your podcast, you should think about these things.
Even though those over 55 make up the smallest number of people who listen to podcasts every month, there is a growing interest in this medium.
In 2011, Statista revealed that only 14% of the people over the age of 55 in the United States listened to a podcast every month.
Interestingly, the numbers increased to 17% in 2016 and about 22% in 2021. During this period, there was not much of a shift in the percentage of listeners in the age range of 12 to 34 years old. Only a 4% growth may be attributed to the period between 2011 and 2021.
On the other hand, the percentage of monthly podcast listeners among those aged 35 to 54 has fallen. In 2011, they made up 40% of listeners; however, over the last ten years, that figure has plummeted to below 30%.
It’s possible that they don’t comprehend technology well enough to look for podcasts or simply don’t know where to look for them.
These statistics create a unique opportunity for anyone interested in developing a brief course regarding podcasts. You can look into teaching people how to locate quality content and how to get started listening to them.
Now you have some insightful statistics about podcasts. These statistics prove that there is a market with massive potential for producers and marketers.
The industry has massive money-making potential. So, if you want to start producing podcasts, this is the best time. However, podcasting is more profitable when you do it for passion rather than money.
Using the above podcast statistics, you may establish your podcast and build a dedicated audience. To do that, you need to do your study, then set a plan and strategy.
Using your strategies, you may be able to create podcasts for success. Start with your favorite podcast incorporating some of these insights. If you have a podcast, this 2023 data can help you enhance it.