Podcasts Go Boom: Is the Business Blowing Up or Burning Out?

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Cheyne Gateley/VIP

One of the hottest media business storylines to emerge in recent times has been the intensifying chase for podcast listeners. Publishers like Axios, BuzzFeed, Barstool Sports, the Guardian, Wall Street Journal, and Washington Post have all launched daily podcasts since 2018, for example. And just look at Spotify, which, since just last year, has committed to spending over $500 million on acquisitions of podcast companies like Bill Simmons’ The Ringer podcast network.

Efforts like these are analyzed in depth in the newest 36-page special report from Variety Intelligence Platform (VIP), “Podcasts Go Boom,” which offers a comprehensive analysis of the growing podcast business in the U.S. 

“Podcasts Go Boom” is the first special report from VIP to focus on the podcast business. We’ve already published a diverse mix of special reports that focus on areas of high interest within media like the streaming wars and the legalization of sports gambling, but “Podcasts Go Boom” goes deep with our usage of full-page graphics throughout the report helping guide the reader through need-to-know information.

The biggest question that VIP answers within the report has to do with the increasingly crowded nature of the podcast space, which is enticing to media businesses but now counts over 1,000,000 podcast shows that consumers can pick from. 

With so many shows consumers can pick from already, media companies that have watched the popularity of podcasts soar and pondered an entrance into the space themselves are likely left wondering.

Is it even worth getting into the podcast business at this point? Is there a long runway for podcast listening growth, or will 2020 be known as the year that hype surrounding podcasts left and the podcast market corrected itself?

Read on to learn about:

1

The size of the U.S. podcast market and three main factors that are likely to drive consumers toward podcasts in the near future

2

An expansive look at how big U.S. media companies are embracing podcasts and how businesses can best position themselves to gain traction among podcast listeners

3

U.S. podcast listener forecast and perspective on whether or not the podcast market seems poised for a market correction