The global podcast market value, which reached $13.7 billion last year, is expected to rise to $149.3 billion by 2030.
According to the Podcast Market Analysis Report by Polaris Market Research, the global podcast market value is expected to reach $149.3 billion by 2030.
The global podcast market value was $13.7 billion last year. In the report, which stated that the podcast industry is rapidly gaining popularity in international markets, it was stated that the growth in OTT platforms, which are defined as media services that reach the audience directly over the internet, also created the demand for regional content worldwide.
As the world becomes more and more interconnected, the word services industry is expected to grow rapidly, increasing demand for regional content, the report said.
In the report, it is stated that comprehensive developments have been observed in the podcast market in recent years, supported by various factors such as the internet of things (IoT), machine learning (ML) and artificial intelligence (AI) installation on podcast channels and the increase in disposable income. It was emphasized that the rise of deeper mobile penetration, cheaper data, artificial intelligence and machine learning has created an extraordinary environment for streaming players to thrive.
NORTH AMERICA RANKS FIRST
The report included the following assessments:
“High disposable income and rising consumer spending globally are a key factor in the expansion of the podcast industry. The news and policy segment was the most important contributor to the growth of the global podcast market last year. It is expected to maintain this dominance until 2030. North America has the largest revenue share in global podcast market value. This dominance can be attributed to the region’s rapid adoption of new technology and a mature audience base.”
Source: Haberturk / Translated by Irem Yildiz