Why podcasts are growing in popularity
Podcasts have entered our lives instantly, and they are becoming increasingly popular. We listen to podcasts on the way to work, while cooking, doing housework, or researching a topic.
According to B2Bhouse’s latest data, by 2022, the overall number of monthly podcast listeners in 18 countries will rise by 15.5% to 383.7 million. And it will increase to 424.2 million next year. Podcast listenership is not unique to various regions. For example, stats from Latin America provide considerable data on how the podcast is spreading. In 2022, the number of podcast listeners in Brazil grew by 19%. Argentina followed with 17.9% and Mexico with 13.6%. Similar figures can be seen in other countries around the world.
Growing spendings on content
Streaming services have also responded to the growing demand and adapted accordingly. Both Apple Music and Spotify have introduced new subscription-based podcast services, while Spotify has also made considerable changes to search capabilities on its desktop and mobile apps. Spotify, after investing 1 billion dollars, invested 215 thousand dollars more in podcasts a couple of months ago. The audio streaming company also announced that the investment mode continues. Apple is financing original podcasts that would be exclusive to its platform and unveiled podcast subscriptions, a global marketplace for listeners to discover premium subscriptions offered by their favorite creators. Other companies are also expected to participate in this wave of investment. The investment market is expanding in direct proportion to the growth in listenership.
Enabling Gen Z to multitask
So, how can we explain this popularity? The reasons are wide-ranging. The COVID-19 pandemic was undoubtedly a boom for podcast listening since people worldwide were trapped at home and had more time for digital engagement. But the growth of podcast audiences around the world is still accelerating.
In today's world, we are constantly on the move. And audio content allows the listener to multitask. So, with podcasts, it's easy to access new information while being busy moving. Providing convenience and flexibility to users is a characteristic that makes podcasts stand out.
However, there are also some structural factors. Today, it's challenging to keep track of the information flow. So, processing information is becoming increasingly important. Thus, we need the right frameworks to comprehend information on the accurate ground. Storytelling, indispensable for the framing process, is becoming more influential in the digital age. Today, one of the most dominant tools of storytelling is podcasts. Podcasts offer listeners a practical discovery process.
Community-oriented, tribal nature
But podcasts aren’t only for learning. To many listeners, they are also a form of entertainment. Podcasts offer listeners access to a like-minded community. Podcast hosts often engage with their listeners on social media, newsletters, and websites. So, they offer a way for people to meet others similar to them. Additionally, the large variety of podcast topics allows advertisers to reach niche consumer markets of highly engaged listeners.
Over the past decade, the realm of podcasting has evolved exponentially. As the podcast trend continues to grow yearly, one thing is clear: humans love to listen to each other talk. So, how can you discover new podcasts to enjoy? Empowered by the creative economy, Wiser is a social curation platform and discovery tool for new digital media formats such as podcasts. On Wiser, you can discover new podcasts hand-curated by a community of experts, insiders, and aficionados.