Podcasting Market Regional Analysis:
North America Market Insights
North America industry is predicted to dominate majority revenue share of 38.5% by 2035. The market is flourishing due to the growing adoption of advanced technology and a surging audience base. Also, this region has a thriving podcasting industry with many well-known platforms, a sizable market for advertising, and a high smartphone penetration rate.
In the U.S., the effectiveness of podcasts as a medium for brand messaging is becoming increasingly apparent to media buyers, which is driving further growth in the podcasting market. In 2024, the value of the U.S. industry alone surpassed USD 4 billion due to the continued growth of podcast advertising worldwide. Simultaneously, a new study from Acast found that 65% of U.S. marketers anticipate raising their podcast marketing budget, and when considering marketers who have already bought podcast advertisements
In Canada, the audience's size and level of involvement are growing. According to research conducted by Acast, there are now additional chances for companies to interact with these audiences on social media, since 67% of Canadian listeners reported that they follow podcasters. Publishers focus on enhancing their advertising offerings, and businesses integrate the on-demand audio podcast approach into their platforms.
APAC Market Insights
Asia Pacific will witness huge growth in the podcasting market during the forecast period. The market growth can be credited to the rising popularity of smartphones and the expanding need for content across various genres and languages in the region. Podcast usage is further boosted by government measures to encourage digital literacy and audio content; local and international players are capitalizing on this opportunity by providing content that speaks to the region's distinct cultural and linguistic diversity.
In China, podcast platforms are collaborating with creators to create appealing content and increase the number of listeners. The growth of branded podcasts is another trend in the industry. For instance, in March 2023, China Airlines partnered with SoundOn, the leading brand in Taiwan's audio sector, to introduce brand-new, premium podcast content for in-flight entertainment systems. Also, businesses have recognized that podcasts may be an effective marketing tool for connecting with their target audience genuinely and engagingly.
In India, the availability of reasonably priced smartphones and inexpensive mobile data contracts have greatly aided the country's quick development. Indian listeners have responded well to local language podcasts on genres ranging from philosophy to entertainment. To meet this increasing demand, Indian businesses and public broadcasters are improving their audio offerings.
The podcasting market in South Korea is witnessing expansion due to the growing need for digital audio content in an area renowned for its rich storytelling culture and oral traditions. Podcasts are becoming more widely accessible due to increased smartphone adoption and better internet connectivity. According to the Electronic Frontier Foundation, there are currently 4 million 5G subscribers in South Korea as per the telecom industry.
