Podcasts and music streaming Mirrored growth
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The economic recession, and related layoffs at major podcasting divisions, have some questioning the future of the format. However, podcasts are following a similar trajectory as music did in its transition to streaming and have reached critical mass — consumer penetration — faster than music streaming subscriptions did. In this respect, the podcast market’s journey is only just beginning, and we can predict the phases that the format will go through. The main difference is that, while music streaming developed before today’s hyper-competitive, fragmented entertainment landscape, podcasts are entering their growth phase within it.
Companies and brands mentioned in this report: Amazon, Amazon Music, Anchor, Apple, Apple Podcasts, Billboard Hot Case Chartable, Clubhouse, DC Comics, Forbidden Fruits with Julia Fox and Niki Takesh, Gangnam Style, Gimlet Media, Grace Keeling, Hasan Minhaj, iHeart, iPod, iTunes, Joe Rogan, Libsyn, LimeWire, Markiplier, Midroll Media, MommyCast, Napster, Pandora, Parcast, Patreon, Podimo, Podsights, Serial, SiriusXM, Spotify, Stitcher, The Riddler: Secrets in the Dark, The Ringer, This American Life, TikTok, Twitter Spaces, Vad? med IJustWantToBeCool, Wondery, YouTube, and YouTube Music