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Podcasts are consumed globally with even adoption across Asia, Europe and North America. Countries from Asia, Europe and North America all feature in the top 5 markets globally. Minimal evidence of podcasting being a regional specific trend.
Little correlation between common causal factors e.g. tendency to drive for commute or English language.
While the English-speaking world may dominate content production, the top native English podcast market measured by audience ranks only #4 in world. Asia, which many cited as a laggard in podcast adoption ranks as #1 and #9 in world adoption.
Data Shows In top 10 global markets 493 million working adults listen to podcasts every week.
This number will grow to 605 million by 2021, a 22.7% year on year increase driven by 4 factors:
While initially popular with men, podcasting is increasingly popular with women and minorities.
There are 2 distinct market drivers behind the growth in podcast diversity of voice:
Traditional media often favors traditional content producers. As Podcasting requires little mediation and selection by editors, there are few barriers preventing diverse voices creating their own media.
The B2B Podcast market is still at an early stage. Most consumers are Early Adopters. We estimate the market at around 10% of long-term potential audience.
Unlike mass market Early Adopters tend to exhibit different qualities of behavior namely openness to try new things, advocacy of products and personal investment in the technology or content.
Corporate Podcasters need to focus on understanding and engaging their audience better. In the B2B Space, the Early Adopter 13.5% are crucial to a company’s Go to Market strategy.
2 contributing factors drive the rise in B2B podcast content:
Audience Pull: B2B audiences want more authentic communication from vendors, partners and potential employers. Audiences want to go beyond media soundbites and controlled messaging to better understand and connect with the people behind the message.
Leader Push: Company leadership needs a more effective communication channel not reliant on travel or face-to-face meetings. Leaders also need to achieve scale and communicate in an authentic manner.
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