Podcasting is defined as digital evolution of radio broadcasting, involving making one or more video or audio files which are released episodically and often downloaded by using internet syndication. It offers a clear and concise way for marketers and brands to communicate their value proposition to a captive audience.
Podcast is a series of spoken word audio files that can be downloaded by using internet on payback devices. Easy accessibility of podcasts during transit time and multitasking like walking, exercising, gardening, or cleaning is the key driving factor which is expected to boost the global podcasting market. Increase in popularity of audio broadcasting content will positively contribute the market growth. Global podcasting market still is in nascent stage it has been tremendous growth in production volume and consumption over the past decade. For instance, as per the report published by the New York City legal body, New York, called as the epicenter of this industry, recorded around 42.0 million weekly listeners in year 2017. Furthermore, increase in adoption of modern consumption patterns will drive the podcasting market during this forecast period. Moreover, due to COVID-19 pandemic, listeners across the globe are observed to be spending more time at home due to work from home policies and stringent regulations restricting public gatherings which is expected to propel the market growth.
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However, limited resources for creating and compelling content on regular basis is major challenging factor which is expected to hinder the global podcasting market growth during this analysis period. Also, slow internet speed and low storage space issues will hamper the market growth.
Global Podcasting Market is segmented into Genre such as News & Politics, Society & Culture, Comedy, Sports, and Others. Further, market is segmented into formats such as Interviews, Panels, Solo, Repurposed Content, and Conversational.
Also, Global Podcasting Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Apple Inc., Amazon. Com, Inc, iHeartMedia. Inc, Pandora Media Inc., Soundcloud Limited, and Spotify AB.
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