A few top podcasts make most of the money, India's market remains vastly untapped

The advertising revenue for podcasts is expected to grow 12% this year, reaching $2 billion and nearly $2.6 billion by 2026, but less than 12% of Indians listen

Published on: Jul 28, 2024, 12:15:06 IST

By HT News Desk | Edited by Abhyjith K. Ashokan

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Currently there are about 450,000 active podcast shows that have published recent episodes, according to a Wall Street Journal report, which quoted Podcast Industry Insights. However, just the top 25 reach nearly half of all US weekly listeners, according to data from Edison Research.

The advertising revenue for podcasts is expected to grow 12% this year. This means it'll grow up to $2 billion and reach nearly $2.6 billion by 2026, (Representational photo/Unsplash)

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Which is the most popular podcast platform in the world?

Spotify, the most popular podcast platform in the world, started off by betting $1 billion on podcasting in 2019, but it soon struggled to make it profitable. Pressure from Wall Street therefore led to Spotify consolidating its studios and culling some shows.

However, the ad market also slowed after this. Rising interest rates led to struggling direct-to-consumer brands that anchored the podcast ad business and Apple's software update that stopped the auto-downloading of podcast episodes, led to a decline of 20-30% in podcast downloads.

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Despite this, Spotify's introduction of video in 2020 took off, and now, it has a quarter million podcasters uploading video to its service.

The advertising revenue for podcasts is expected to grow 12% this year. This means it'll grow up to $2 billion and reach nearly $2.6 billion by 2026, according to IAB and PwC.

How many Americans and what percentage of the population listens to podcasts?

Close to 100 million Americans aged 12 and older, listen to podcasts ever week, according to the Edison report. The population of the US is currently 341.94 million according to Worldometer data.

That means nearly 30% of all Americans listen to podcasts every week.

How many Indians and what percentage of the population listens to podcasts?

India is currently the third-largest market for podcast listeners, but only 12% of Indians actually listen to them, according to a Storyboard 18 article which quoted ‘The Podcast Pulse’, a report on podcast consumption in India developed by UNPAC Research (OPC) Pvt. Ltd. with the support of Ideabrew Studios.

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However, the data included only 2,170 individuals across 10 cities in India, including Mumbai, Delhi, Chennai, Bengaluru, Kolkata, Ahmedabad, Lucknow, Indore, Patna, and Jaipur, out of which, 1,800 were comprehensively interviewed.

What are the top 10 most listened podcasts in the US?

According to the Edison Podcast Metrics 2024 Q1, the top 10 podcasts in the US include:

1. The Joe Rogan Experience

2. Crime Junkie

3. The Daily

4. New Heights with Jason and Travis Kelce

5. Dateline NBC

6. This American Life

7. Call Her Daddy

8. SmartLess

9. Morbid

10. Stuff You Should Know

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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