2020 Podcast Market Growth & Trends

Goals

Gain information on the market size and growth of active podcasts of August 2020, as well as top ways a podcast can grow business in 2020, as well as related data on podcast leverage and percent of podcasters that quit, in order to help promote a podcast accelerator program.

Early Findings

Market Size & Growth

  • The growth in podcast downloads in 2020 has been somewhat unpredictable, mostly linked with people cutting out their daily commute, the most common time to listen.
  • As of mid 2020, there were just over 1,000,000 active podcasts, and 30 million episodes in over 100 languages.
  • 75% of the US population is now familiar with the term 'podcasting', a slight increase from 70% in 2019.
  • 37% of Americans listened to a podcast in the last month.
  • Even after months of economic downturn from COVID, the podcast space is still projected to grow 15% in 2020.
  • This is however a decrease from the original projection of 28% growth.

Podcasts As Business Leverage

  • Podcasts are most useful when businesses leverage them as a marketing tool, to reach a broader audience, and develop trust and loyalty with existing customers.
  • Podcasts are also now being used by businesses adapting to remote work, to create private audio for employees as well as create podcasts for conference attendees.
  • Podcasts allow businesses to position themselves as authority figures within an industry or niche market, by structuring their podcast in a way to dispense advice.
  • Businesses can also use podcasts to boost their exposure, growing their podcast to expand their online presence and potentially boost SEO.

Proposed next steps:

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