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The growth of podcasts in the last five years has been sensational. Podcasting used to be a form of alternative media, but now it’s gaining mainstream popularity. Experts valued the global podcasting industry at $9.28 billion in 2020. Joe Rogan sold his podcast to Spotify for a reported figure of above $100 million, and 57 percent of Americans have listened to a podcast.
Here are some more fascinating statistics:
Podcasts are no longer a fringe part of the media industry. You can find podcasts in every subject, genre, and topic. Moreover, the growth in podcasts looks set to continue well into the 20s decade. But why?
Podcasting allows listening to multitask while they listen. In contrast, traditional forms of media — such as TV — need watchers to sit down and focus. As a result, it becomes difficult to multitask and concentrate on other tasks.
A recent study showed that 11% of people listen to podcasts at work. 22% of people listen to podcasts while driving, and 8% listen to podcasts while working out. So you have the freedom to consume podcast audio wherever and whenever. That’s very powerful.
Podcasts are diverse and endless. You can find a podcast on every topic imaginable. Here are some statistics on the most popular genres and their percentage share of podcast listeners:
Furthermore, here are the most listened to podcasts in 2020.
These are just five examples, but there are many more. Podcasting offers a diverse option of topics that many forms of media struggle to compete with.
It was far more challenging to download podcasts ten years ago. However, downloading podcasts is effortless today. There are various platforms, including Spotify, Apple, and Luminary (to name a few), that offer easy access.
Furthermore, most podcasts are entirely free to enjoy. Of course, podcasting platforms such as Luminary charge a monthly fee. But most podcasts come with zero upfront costs, and the podcast owners make money from advertising, courses, and services sold through the podcast.
In a world where most forms of media require some form of financial transaction — apart from YouTube— having free options is highly desirable. You only need to turn on your mobile phone or tablet and download an app. After that, you’re free to consume excellent audio production at minimal cost. That’s why podcasts are winning.
Podcasts add a feeling of intimacy to listeners. Podcasts are very much like radio in the sense that you can connect with the host. Moreover, podcast hosts tend to be far more casual than many hosts, and it often feels like you’re hanging out with friends.
Joe Rogan has built his podcast on the feeling that you’re sitting next to a group of friends talking about deep subjects at the pub. As a result, he has built a personal relationship with many of his listeners, and that’s what keeps bringing them back.
It’s almost like watching your favorite actor. For example, if you’re a fan of Harrison Ford and you’ve watched the Indiana Jones and Star Wars movies — you’ll likely want to see his other, lesser-known movies. Podcasts are excellent for building that personal connection, possibly better than most because of their casual nature.
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