Podcasting: An Exploding Market

This study examines the podcast market. Topics include household audio equipment adoption; consumer podcast behavior across various platforms, and genres (e.g., hours spent listening per week); consumer spending on podcast content, equipment, and production; user experience and discovery sources; and segmentation by podcast listeners and producers (both professionally and personally).

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Methodology and Key Terms

Key Terms and Definitions

Executive Summary

Devices Used to Listen Digital Music

Percentage Listening to Audio for at Least 1 Hour

Use of Free Music Service by Age Groups

Use of Paid Music Service by Age Groups

Podcast Platforms User Experience

Ways to Discover New Podcasts

Podcast Production Activities in the Last 12 Months

Number of Listeners/Viewers Per Episode Produced

Primary Purpose for Producing Podcasts

Podcaster Average Spend Per Year Compared to Average Revenue Per Month Among Podcasters That Spend or Make Over $0

Percentage Listening to Podcasts for at Least One Hour Per Week by Age

Podcast Production Equipment Purchase Intention

Audio Content and Services

Home Audio Device Ownership

Audio Device Adoption by Smart Speaker and Smart Display Ownership

Audio Device Adoption by Podcast Listener

Audio Device Adoption by Podcast Creator Type

Audio Devices Purchase Intention

Audio Devices Purchased in the Last 6 Months

Average Purchase Price for Audio Devices

Audio Behaviors

Weekly Hours Spent Listening to Audio

Percentage Listening at Least One Hour Per Week to Audio Sources by Age

Average Weekly Hours Spent on Audio Activities by Age Groups

Devices Used to Listen Digital Music

Audio Behaviors: Free Music Services

Use of Free Music Service

Use of Free Music Service by Age Groups

Use of Free Music Service by Income

Use of Free Music Service by Adoption Segments

Average Weekly Hours Spent on Audio Activities by Free Music Service

Use of Free Music Service by Device Used

Use of Free vs. Paid Music Service by Device

Audio Behaviors: Paid Music Services

Use of Paid Music Service

Use of Paid Music Service by Age Groups

Use of Paid Music Service by Income

Paid Music Service Adoption by Tech Affinity

Use of Paid Music Service by Device

Average Weekly Hours Spent on Audio Activities by Paid Music Service

Audio Behaviors: Podcast Content

Frequency of Listening/Watching Podcast by Content

Podcast Genre Listened to at least Monthly by Age

Podcast Genre Listened Monthly by Gender

Apps/Websites Used to Access Podcast

Most Frequently Used Apps/Websites to Access Podcast

Podcast Genre Listened Daily by Platform Used

Ways to Discover New Podcasts

Monthly Spending on Podcast Subscriptions

Average Monthly Cost for Podcast by Platform Used

Podcast Platforms User Experience

User Experience with Podcast Apps/Websites

Producing Podcasts

Podcast Production Activity in Past 12 Months

Primary Purpose of Podcast Production

Equipment Used for Podcast Production Among Podcast Prosumers

Podcast Production Equipment Purchase Intention

Cost for Podcast Production/Promotion Within Last 12 Months

Average Cost for Podcast Production/Promotion Among Those Spending More Than $0

Percent of Podcasts That Spend $0

Podcast Monthly Revenue by Business Channels

Average Revenue Per Month Among Those Earning More Than $0

Percent of Podcasts That Earn Money

Areas that Podcasters’ Intend to Invest for Podcast Improvement

Number of Listeners/Viewers Got for Each Episode of Podcast

Podcast Monthly Revenue Average by Number of Listeners/Viewers

Podcast Publishing and Distribution Platforms

Podcast Monthly Revenue Average by Distribution Platforms

Number of Listens/Views Per Episode by Distribution Platform

Appendix

Publish Date: 1Q 2023

Slides: 69


Authored By:
Sarah Lee - Research Analyst
Yilan Jiang - Senior Director of Consumer Analytics
Sharon Jiang - Consumer Insights Analyst II
Yuting Mu - Consumer Insights Analyst I

Published by Parks Associates
© March 2023 Parks Associates

All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher.

Printed in the United States of America.

Disclaimer
Parks Associates has made every reasonable effort to ensure that all information in this report is correct. We assume no responsibility for any inadvertent errors.

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