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Introduction

The podcast boom is showing no signs of abating. Advertising revenue is set to reach $1bn for the first time this year. By 2023, that figure is forecast to reach almost $4bn.

Highlights

  • The ceiling for podcasts is high. While revenue from podcasts is still modest compared to the wider entertainment market, it is becoming increasingly clear that the revenue potential of the market is very large indeed.
  • Better analytics and targeting is causing podcast advertising to increasingly resemble other digital ads, a process that could be greatly accelerated by advances in audio search.
  • Experiments in paid subscriptions to podcasts have proved surprisingly successful. The premium subscription market could eventually be significant.

Features and Benefits

  • Assesses the future growth of the podcast market in terms of both listeners and revenue.
  • Analyzes the increasingly effective monetization of podcasts through advertising and other means.
  • Explains the deepening relationship between podcasts and the wider digital advertising market

Key questions answered

  • What will be the drivers of growth in the podcast market over the next five years?
  • Is the current podcast boom sustainable?
  • Can podcasts be integrated into the wider digital advertising market?
  • Can podcasts be monetized by means other than advertising? Will people pay for podcasts?

Table of contents

Summary

  • In brief
  • Ovum view
  • Recommendations

Market status

  • Podcasts are now a $1bn market

Market dynamics

  • Podcast advertising is becoming more efficient

Market outlook

  • Further strong growth in ad revenue expected
  • Producers look to new revenue streams

Appendix

  • Methodology
  • Further reading
  • Author

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