Why are Podcasts so Popular?

Influencers, educators, celebrities, journalists, everyone has a podcast today. In the year 2020, the global market value of podcasts was USD 11.46 billion. Podcasting’s popularity has skyrocketed in the past couple of years. But what is behind the escalating growth of podcasts, and why are they gaining so much popularity after over a decade of their launch?

The Growing Popularity of Podcasts

In 2005, Apple introduced podcasts through iTunes, “a concatenation of iPod and broadcasting.” Before the podcast, the audience was hooked on radios, but the uncontrollability of radio shows and ads was a struggle for people. On the other hand, Podcasts offered listeners a new sense of freedom, where they can listen to their favorite host at any time they want.

The most significant advantage of the podcast over TV and radio shows is that they are free. With the rise of the internet, the audience was able to tune in to the show directly without having to download the audio on their devices, making consumption of podcast content a lot easier.

What is Behind the Spiralling Popularity of Podcast?

In a world governed by rapid technology and visual culture, millions of users’ interest in such a simple format as podcasts might seem suspicious. So, let’s get down to the reasons that make podcasting such a tremendous success:

Multitasking & Podcasting

One undeniable leverage of audio content is their convenient consumption. No matter what you are doing, running, cleaning, cooking, and other scenarios, podcasts offer you an easy way to absorb the information while going on with your daily tasks.

According to Edison Research, most listeners tune to podcasts while working out, in a car, at home, or walking around. This means that listeners mostly perform at least two tasks at one time, for example, exercising and listening.

Furthermore, while using Spotify or Apple podcast, every listener can choose to subscribe to their favorite podcasters and download new episodes right away, contrary to social media and YouTube, where the user has to visit to discover the new content.

Easy Monetization

Though all the podcast content is usually free, which is a massive win for the end-user, it is always time-consuming for the podcasters. The cost of equipment, production, let alone creating every episode, consumes a great deal of the creator’s time and money.

Therefore, to offset the cost, every podcaster tries to monetize their show as soon as possible. Starting small with sponsors and local ads to help them cover their creation costs to advertising for more prominent brands as the podcast gains success. 

Creators can start their podcasts as a hobby, but a few years down the line, it can become their primary source of earning. Companies are aware of the increasing popularity of podcasts, and podcast ads revenue has approximately grown over 1000% from 2015 to 2021. For any podcast having over 5000 downloads per month, there will always be some companies who will like to invest in your shows, and as the downloads grow, so will your ways of monetization and podcast revenue.

Want to know more about podcast monetization? Check out our entire series of how you can make money podcasting! (link to be podcast monetization series)

Podcast for Everyone

Think of any topic under the sun; you’ll probably find some podcast to tune in for the subject. The extensive and endless variety of shows gives every user something to listen to. There is always a podcast for everyone’s taste, from comedy podcasts, true crime to news, opinion podcasts. 

Moreover, podcasts offer the listeners a deep dive into the minds of every niche’s thought leader via interviews. By listening to a podcast about their field every day, anyone can now learn a new language or become an industry expert.

Podcasting is the future!

Combining the above characteristics of podcasts with a low level of competition has given podcasts today’s popularity, which is increasing exponentially. More ad revenues, more incentives provide the podcasters to create more enticing content for their listeners.

The spiraling popularity of podcasts is opening the wide gate for the existing creators to expand their listener base even more. For the new creators thinking of stepping into podcasting, the time has never been better!

Liked it? Take a second to support Anshika Mishra on Patreon!
Become a patron at Patreon!

Further reading

Recent posts