Podcasts are growing in popularity, and during the COVID-19 pandemic they received more time in the spotlight. But don’t mistake their growth for a flash in the pan.
Streaming services are picking up on the demand and adapting 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.
So, what explains this growth? This article will answer that question, along with exploring the impact of podcasts on streaming services.
How Much Have Podcasts Grown in Popularity?
In March 2021, Edison One and Triton Digital released their latest version of the annual “Infinite Dial” survey. The companies’ research revealed that 41% of Americans aged above 12 had listened to a podcast during the past month when putting together their statistics.
That figure had risen from 37% in 2020; that year’s survey was released around the same time that COVID-19 lockdowns commenced worldwide. Since 2016, the number of people in the US older than 12 listening to a podcast in the past month has almost doubled.
Weekly podcast listeners were also up. 28% of people in Edison One and Triton Digital’s research listened to a podcast in the last week. In comparison, 24% of individuals did so in 2020, which was up from 22% in 2019.
But the growth of podcasts looks like it is far from over. According to an article published in February 2021 by Forbes, 125 million people are expected to listen to one each month by 2022. If that happens, it will demonstrate 25% growth since 2020.
Why Are Podcasts Becoming More Popular?
One reason that podcasts are becoming more popular is their convenience. Users can listen to audio episodes while running, cooking, and cleaning, along with numerous other scenarios. As such, they offer an easy way to absorb information while doing something else.
Podcasts also allow listeners to educate themselves without needing to spend lots of money. In 2020, the world shed the spotlight on social issues. Shows allowed people to learn more about these topics or hear a broader range of voices—or listen to people with similar opinions.
Sticking with education, podcasts can also help listeners learn more about topics that interest them. They can also pick up information related to the industry they work in, gain valuable insights for school exam subjects, or learn a new skill.
But podcasts aren’t only for learning. To many listeners, they are also a form of entertainment. This isn’t too different from radio programs, such as the BBC’s popular “The Archers”.
Away from the shows themselves, podcasts also offer listeners access to a like-minded community. Hosts often engage with their listeners on social media, in newsletters, and on their websites. So, they offer a way for people to meet others similar to them.
The Impact of Podcasts on Streaming Services
Both Apple and Spotify have responded to the growing demand for podcasts. Notably, both are launching subscription-based models for shows.
At Apple’s spring event in April 2021, CEO Tim Cook said that the launch of its subscription service was “the biggest change to Apple Podcasts since its debut”. As of May 2021, Apple Podcast Subscriptions customers can access premium content, listen ad-free, and more.
Spotify has also launched a podcast subscription service. On the platform, users can choose to subscribe and receive exclusive content from their favorite shows.
But aside from these services, both companies have significantly updated their platform interfaces. Apple has given Apple Podcasts a new look and feel, while Spotify has improved how users can search for shows on the platform.
Are these changes working? Well, it’s too early to tell. As reported by The Guardian, Spotify did credit its 24% subscriber growth and 29% rise in ad income during Q4 2020 largely to podcasts. In the final three months of that year, listening hours doubled on the platform.
Podcasts Are Here to Stay!
Though some might argue that podcasts’ increasing popularity was a fading pandemic trend, the statistics suggest otherwise. Content of this kind allows listeners to connect with interesting people and expand their knowledge on topics important to them.
Podcasts also provide a form of entertainment. For creators, the introduction of Apple and Spotify’s paid subscription services could also boost their income and help them develop higher-quality content.
And if listening to podcasts isn’t your thing, why not try creating one? You might discover a newfound passion in the process.