Table of Contents
Podcasting Market Overview
Podcasting Companies: Podcasting has seen exquisite growth in recent years owing to the rising popularity of on-demand audible content and the widespread of mobile devices. The market is highly fragmented, with many genres and formats serving different audiences, from true crime and comedy to news and politics.
Podcasting, also known as on-demand radio, is the creation and distribution of audio or video content that is usually periodical and available for download or streaming over the internet. It is a pre-recorded or taped digital program that the audience can watch or listen to online via subscription or may download as a file with the use of a playback device.
Market Drivers
According to Podcasting Statistics, The global Podcasting market is driven by the growing demand for premium podcast content to engage more listeners across the globe, boosting the market’s growth. Several major developments in the last few decades like AI, IoT, and ML, are further expected to boost the Podcasting Market.
Additionally, the market is growing as (AI) artificial intelligence is being integrated into podcasts to enhance consumer experience and allow podcasters to alter the content easily.
Revenue, CAGR, and Forecasted Revenue
The Global Podcasting Market accounted for USD 21.4 billion in 2022 and is estimated to reach around 233.9 billion in 2032 at a CAGR of 27.8%. Between 2023 and 2032, this market is estimated to register significant growth during the forecast period.
Top Podcasting Brands
Market Key Players:
Apple Inc.
Company Overview
| Establishment Year | 1976 |
| Headquarter | The US |
| Key Management | Mr. Tim Cook (CEO) |
| Revenue (US$ Bn) | ~394.33 (2022) |
| Headcount | ~164,000 (2022) |
| Website | https://www.apple.com/ |
About Company
Apple Inc. is an American multinational technology company. The company’s headquarters is in California, US. It was founded on April 1, 1976, as a partnership by Steve Jobs, Steve Wozniak, and Ronald Wayne. As of 2022, Apple is the biggest tech company in the world, with a revenue of $394.33 billion. As of 2022, globally by market capitalization, Apple stands as the biggest tech company, and by unit sales, it ranked as the fourth-largest personal computer vendor worldwide. Furthermore, it is the largest manufacturing company by revenue, and according to mobile phone manufacturing, the company is the second-largest globally.
Apple Inc. (Apple) manufactures, designs, and markets personal computers, smartphones, wearables, tablets, and other accessories and sells several related services. The company’s product offerings include iPhone, iPad, Air Pods, Mac, Apple Watch, Apple TV, iPod touch, Home Pod, Beats products, and accessories. The Company operates various platforms, which include the App Store, that allow customers to explore and download applications and digital content, such as music, books, games, videos, and podcasts.
Geographical Presence
The company’s business operations are spread over the Americas, Asia Pacific, Europe, the Middle East, and Africa. The company has enlarged its points of sale and geographic reach over the years, with 526 stores in 26 countries and regions worldwide.
Recent Developments
- September 2023: Apple launched its first carbon-neutral product in the all-new Apple Watch line. Innovations in clean energy and design have dramatically reduced product emissions by more than 75% for each carbon-neutral Apple Watch.
- August 2023: Apple, Adobe, Pixar, NVIDIA, and Autodesk, along with the (JDF) Joint Development Foundation, a subsidiary of the Linux Foundation, announced the Association of (AOUSD) the OpenUSD to foster the expansion, standardization, and development of Pixar’s Universal Scene Description technology.
iHeartMedia Inc.
Company Overview
| Establishment Year | 2007 |
| Headquarter | The US |
| Key Management | Mr. Robert Pittman, Mr. Richard J. Bressler, Mr. Tom Poleman (CEO, CFO & President) |
| Revenue (US$ Bn) | ~3.912(2022) |
| Headcount | ~11,000 (2022) |
| Website | https://www.iheartmedia.com/ |
About Company
iHeartMedia, Inc., also called CC Media Holdings, Inc., is an American mass media company. It’s the parent company of iHeartCommunications, Inc., founded in May 2007 by B. J. “Red” McCombs and Lowry Mays. The company’s headquarters is in San Antonio, Texas, US. It is a provider of entertainment and media services.
The company delivers program syndication, weather, traffic, news, on-demand entertainment, and sports data distribution, and it also delivers media and audio services, including planning, media representation operations, and broadcast software. The company specializes in broadcasting radio, podcasts, digital, and live events through its iHeartMedia and Entertainment, Inc. division and subsidiary.
Geographical Presence
iHeartMedia, Inc. is a media and entertainment company in all major regions worldwide.
Recent Developments
- September 2023: iHeartMedia announced the “Ed Sheeran Special Immersive Experience” at iHeartLand, glorifying the release of his upcoming albums “- (Subtract)” and “Autumn Becomes.” Accessible through State Farm Park of iHeartLand, the special will feature a performance by Ed Sheeran as players explore exclusive scenery created around his songs.
- September 2023: iHeartMedia, with the podcaster and author Malcolm Gladwell’s Pushkin Industries, announced the results of a significant study conducted by Morning Consult and Advertiser Perceptions, exploring the growing discrepancy between consumer behavior, values, and marketing preferences in the United States. The report highlights the growing urgency for marketers to realign and reset their marketing and communications plans with US consumers to ensure campaign success in the increasingly contrasted post-COVID economy.
Megaphone LLC
Company Overview
| Establishment Year | 2015 |
| Headquarter | The US |
| Key Management | Mr. Andy Bowers, Mr. Brendan Monaghan (Founder & CEO) |
| Revenue (US$ Mn) | ~5 (2022) |
| Headcount | ~25 (2022) |
| Website | https://megaphone.spotify.com/ |
About Company
Megaphone, previously recognized as Panoply Media, is a software-as-a-service (SaaS) firm purchased by Spotify. It was established in February 2015 by Andy Bowers and Brendan Monaghan, with its headquarters situated in Reston, Virginia, in the United States. This company offers software for podcast hosting and monetization, along with an advertising network designed to help podcast creators increase their revenue.
Initially, it was involved in producing audio content through The Slate Group under the name Panoply Media. However, it later shifted its focus to providing software solutions for podcast monetization, measurement, and distribution for various media companies and producers.
Geographical Presence
Spotify owns Megaphone LLC and is available in most of the Americas and Europe, Asia, Africa, and Oceania, with a complete availability in 184 markets. Its subscribers and consumers are based mostly in the United States and Europe, accounting for around 53% of users and 67% of revenue.
Recent Developments
- May 2023: Spotify announced its initiative to translate podcasts into various languages, aiming to connect with a wider audience. They’ve observed that certain podcast genres, like daily horoscopes and crime stories, are gaining popularity among listeners worldwide.
- November 2020: Spotify purchased Megaphone, formerly Panoply Media, from Graham Holdings, a media company. Megaphone offers podcast hosting and ad-insertion services for publishers, as well as targeted advertising sales opportunities for marketers.
Pandora Media LLC
Company Overview
| Establishment Year | 2000 |
| Headquarter | The US |
| Key Management | Mr. Roger Lynch CEO) |
| Revenue (US$ Bn) | ~2.1 (2022) |
| Headcount | ~1,800 (2022) |
| Website | https://www.pandora.com/restricted |
About Company
Pandora LLC is a subscription-based music streaming service founded in January 2000 by Jon Kraft, Will Glaser, and Tim Westergren. It is a subsidiary of Sirius XM Holdings. The company is located and headquartered in Oakland, California, United States. Then, it was launched as Savage Beast Technologies.
The company’s service focuses on suggestions based on the “Music Genome Project,” a way to classify individual songs according to their musical characteristics. The service was initially launched to the consumer market as an internet radio service, which would create customized channels based on these features and users’ favorite songs; this service is available in a subscription-based version and an ad-supported tier.
Geographical Presence
Pandora is accessible only in the US due to licensing restrictions. Specifically, it doesn’t have worldwide music broadcasting rights. To protect copyright owners, Pandora ensures that its service is geo-blocked in other countries except the US.
Recent Developments
- September 2023: Pandora and Warner Bros. Discovery Global Consumer Products joined forces to craft a Game of Thrones-inspired jewelry collection. This collaboration offers 12 unique designs that embody the show’s essence, with each piece linked to a character or plotline. For example, there’s a Pandora charm resembling a dragon egg, symbolizing the epic dragon saga from the series.
- August 2023: Pandora introduced the “Disney x Pandora the Little Mermaid” collection, titled “Journey Beyond the Sea.” This collection embodies the themes of friendship, adventure, and female empowerment found in the reimagined classic The Little Mermaid.
Tune In Inc.
Company Overview
| Establishment Year | 2002 |
| Headquarter | The US |
| Key Management | Mr. Richard Stern CEO) |
| Revenue (US$ Mn) | ~103.1 (2022) |
| Headcount | ~259 (2022) |
| Website | http://tunein.com/ |
About Company
TuneIn is a global audio streaming service that delivers live news, sports, radio, podcasts, and music to nearly 75 million monthly active users. TuneIn is run by a company named TuneIn Inc., located and headquartered in California, U.S. The company was founded in 2002 by Bill Moore as RadioTime in Texas.
Consumers can listen to the radio on the website of TuneIn and use a smart speaker, mobile app, or another supported device. The platform has deals with various broadcasters of news, talk, sports, and music around the world. TuneIn is available for streaming on several platforms and top entertainment devices like Amazon Fire TV, Roku, and Google Chromecast.
Geographical Presence
TuneIn radio is a region-locked service designed for people in the UK, US, Canada, and Australia.
Recent Developments
- September 2023: TuneIn, a leading live-streaming audio service, partnered with Skullcandy and Native Voice to launch a Voice Assistant featuring “Hey TuneIn.” This allows users to access TuneIn hands-free and quickly through voice commands.
- July 2023: Faurecia Mourecia’s popular technology providing OEMs with personalized App Market solutions, announced that it will now be able to access and use the TuneIn app directly from the vehicle infotainment system as the makers of automotive are working on creating a completely connected experience for their consumers.
Audacy Inc.
Company Overview
| Establishment Year | 1968 |
| Headquarter | The US |
| Key Management | Mr. David J. Field CEO) |
| Revenue (US$ Bn) | ~1.3 (2022) |
| Headcount | ~3,586 (2022) |
| Website | https://audacyinc.com/ |
About Company
Audacy, Inc. is a broadcasting company in America, founded in 1968 as Entercom Communications Corporation by Joseph M. Field. It is a multi-platform audio content and entertainment company. The company is headquartered in Pennsylvania, U.S. It ranks second as a radio broadcasting company in the U.S., having around 235 radio stations in 48 different media markets.
Audacy owns and operates a vast network of radio stations across the United States. These stations cover various formats, including music, news, sports, talk shows, and more. Audacy’s radio portfolio includes some of the most well-known and popular stations in major markets, making it a significant player in the radio broadcasting industry.
Audacy has also ventured into the podcasting space. It produces and distributes a variety of podcasts across different genres, catering to diverse audience interests. Podcasting has become an essential part of Audacy’s digital strategy, allowing it to reach a broader audience and engage listeners in on-demand content.
Recent Developments
- September 2023: Audacy announced that The Black Keys and Jelly Roll will head the ongoing Riptide Music Festival. With the sun-kissed sky as a backdrop, they will be joined by Lovejoy, Bleachers, Silversun Pickups, Cannons, Misterwives, Flo Rida, Little Image, Beach Weather, Jack Kays, etc.
- August 2023: Audacy announced the annual “Stars and Strings,” a country music concert hosted by KISS Country 99.9 (WKIS-FM), will return to Hard Rock Live at the Seminole Hard Rock Hotel & Casino in Hollywood, Florida on the 1st of November. The event will have performances by CMA Award-winning singer-songwriter Jordan Davis.
Sound Cloud Ltd.
Company Overview
| Establishment Year | 2007 |
| Headquarter | Germany |
| Key Management | Mr. Alexander Ljung, Mr.Eric Wahlforss (Founders) Mr. Mike Weissman, Mr.Eliah Seton (President & CEO) |
| Revenue (US$ Mn) | ~27 (2022) |
| Headcount | ~820 (2022) |
| Website | https://soundcloud.com/ |
About Company
SoundCloud, also known as SoundCloud Global Limited & Co. KG is a music streaming service rooted in Germany. It was founded in Berlin on August 27, 2007, by Alexander Ljung and Eric Wahlforss. Initially conceived to facilitate musicians sharing and collaborating on their music, it evolved into a platform for distributing music.
SoundCloud is a prominent global music streaming service in over 190 countries. As of November 2021, it boasts over 76 million active users monthly and hosts a vast library of over 200 million audio tracks. SoundCloud offers both free and premium subscription options for users on mobile, desktop, and Xbox platforms. Over the years, it has expanded its scope beyond streaming and transitioned into an entertainment company.
Geographical Presence
SoundCloud is available in most of the countries in the world, except countries in regions like Asia, Africa, and Gulf countries. It is mostly available in countries such as the USA, UK, France etc. and its territories.
Recent Developments
- July 2023: SoundCloud announced an all-embracing six-month global accelerator program First on SoundCloud 2023 Program powered by (“Sony”) Sony Corporation. Selected Next Pro artists DJ_Dave, Wolfacejoeyy, Sojabrat, Nitepunk, and sim0ne represent an extensive tapestry of sounds, backgrounds, and identities but come together to form a common voice that drives the future of music.
- January 2023: Pandora and SoundCloud announced the resumption of their ad sales agreement. The conjoint sales group of SiriusXM, named SXM Media, will resume as the individual promotional representative for SoundCloud through 2024. Following the success of the initial agreement launched in 2019, the additions allowed brands and advertisers to continue buying SoundCloud advertising inventory in the United States directly via SXM Media.
Spotify Technologies S.A.
Company Overview
| Establishment Year | 2006 |
| Headquarter | Sweden |
| Key Management | Mr. Daniel Ek, and Mr. Martin Lorentzon (Founders & CEO) |
| Revenue (US$ Bn) | ~11.7 (2022) |
| Headcount | ~9,473 (2023) |
| Website | https://open.spotify.com/ |
About Company
Spotify Technology SA, commonly known as (Spotify) is an audio and media streaming services provider based in Sweden. Martin Lorentzon and Daniel Ek founded the company on 23 April 2006. As of June 2023, It is one of the biggest audio and media streaming service providers, with around 551 million active monthly users, involving 220 million paid subscribers. The company offers online and offline streaming access to podcasts and music catalogs and an ad-free music listening experience.
Spotify offers copyright-constricted recorded digital audio content, including over 100 million songs and 5 million podcasts, from media companies and record labels. As a free and premium service, primary features are free with ads and limited control, while further features, such as ad-free and offline listening, are provided and granted through a paid subscription. Consumers can search for music based on album, genre, or artist and edit, create, and share playlists.
Geographical Presence
Spotify is present in most of Europe, the Americas, Oceania, Asia, and Africa, with a complete availability in around 184 markets. Its subscribers and consumers are based mostly in Europe and the US, accounting for over 53% of users and revenue of 67%. It has no presence in mainland China, where QQ Music dominates the market.
Recent Developments
- March 2023: Spotify announced a collaboration with Patreon, which Spotify says will “allow the creators to grow their creative businesses through payments directly from fans and enable fans to listen to their Patreon content on Spotify.”
- October 2022: Spotify acquired Kinzen, a company that supports identifying adverse content on the platform, to tackle the adverse content on its service next backlash this year over “The Joe Rogan Experience,” in that the podcaster was charged with spreading false information about COVID-19.
- May 2022: Spotify partnered with an online gaming platform and Roblox Corporation, a game creation system. This partnership makes Spotify the first live-streaming company to have a presence in the game with the launch of “Spotify Island.”
Stitcher Radio Inc.
Company Overview
| Establishment Year | 2008 |
| Headquarter | The U.S. |
| Key Management | Mr. Daniel Ek and Mr. Martin Lorentzon (Founders) |
| Revenue (US$ Mn) | ~20 (2022) |
| Headcount | ~33 (2023) |
| Website | https://www.stitcher.com/ |
About Company
Stitcher is a media company that creates, distributes, and monetizes podcasts. It creates real shows through networks like Witness Docs and Earwolf. The company was founded by Mike Ghaffary, Noah Shanok, and Peter deVroede on August 8, 2008, in N.Y., U.S.
The company’s headquarters is in New York City, New York, United States. Stitcher provides distribution services and advertising sales for more than 300 shows. It is the place for one of the biggest podcast-listening apps. The company was started with just its listening app, entitled “Stitcher,” and later on, it was adopted by SiriusXM in July 2020.
Geographical Presence
Stitcher Radio Inc. is an internet radio service that provides on-demand streaming content, including podcasts and radio shows. It is available to users primarily in the United States. While some content may be accessible outside the United States, the service’s geographical focus and availability are centered on the U.S. market.
Recent Developments
- June 2023: Stitcher announced that the podcast service would be canceled on August 29, 2023, as the holding company, SiriusXM, wants to keep focus on integrating podcasts into SiriusXM’s flagship subscription. The company’s production side, Earwolf and Stitcher Studios, are estimated to continue.
- July 2020: Stitcher Company was acquired by Sirius XM for 325 million dollars. After this acquisition, Sirius XM incorporated Stitcher’s complete podcasts into its complementary podcast and music listening service, Pandora.
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