Podcast Industry Estimated to Be Double Previous Size

The global podcast industry generated $7.3 billion in revenue last year, according to research firm Owl & Co. This amount surpasses most projections and demonstrates that this emerging form of entertainment is yielding significantly higher profits than even industry experts had expected.

A substantial portion of the revenue is derived from advertising, alongside subscriptions. This does not account for live events, such as the recently sold-out live taping of The Rest is Politics at the O2 arena in the UK.

Traditionally, the podcasting sector has relied on annual sales data from the Interactive Advertising Bureau to assess its scale. Last year, ad revenue was estimated at $2.4 billion, but this figure only pertains to the US and includes only audio advertising. Owl & Co’s assessment also factored in video revenue, particularly from YouTube, which has become the leading platform for podcast listening, as reported by Edison Research.

Owl & Co calculated YouTube sales by examining how much time people spend watching podcasts and assessing viewership across different countries. The firm corroborated the information with several major podcasting companies.

Moreover, Owl & Co analyzed listenership in China, especially on the popular app Ximalaya, which is reportedly in discussions for a sale to Tencent Music Entertainment Group valued at $2.4 billion.

The cultural importance of this medium was highlighted during the recent US presidential election, often termed the “podcast election,” due to President Donald Trump’s notable appearances on shows such as The Joe Rogan Experience.

Nevertheless, the financial dimensions of the industry are less defined, particularly as it expands into social media advertising, subscriptions, merchandise, and additional avenues.

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