The podcast industry has not stopped growing in the last 10 years, although popularity has skyrocketed since the pandemic.
Thanks to the proliferation of new content and the landing of big stars in the sector, the dynamic format of podcasts has gained ground in entertainment and consumer information sources.
According to a report by Podcast Insights, at the beginning of 2022 there were more than 2 million podcasts available worldwide, with more than 48 million episodes.
The report also revealed that more than 155 million people listen to podcasts in the United States alone, a number that has grown steadily over the years.
The podcast industry has become a gold mine for companies that have been able to take advantage of the business. One of those companies is AudioBooma leading global podcast firm presenting and distributing more than 1,000 programs across a variety of genres, including news, sports, crime stories, and entertainment.
AudioBoom revenue grew 91 percent in the covid year, with monthly active users up 46 percent.
Company CEO Stuart Last said during the pandemic: “People are stuck at home and looking for new ways to entertain themselves.”
Another giant that opted for podcasts is, of course, Spotify. The music streaming leader has invested heavily in podcasting in recent years, acquiring several small companies in the sector, such as Gimlet Media, Anchor and Parcast.
According to eMarketer research, Spotify is expected to become the second largest podcast platform in the United States by 2024, with an estimated 30 million monthly listeners.
Independent podcast networks also sprang up, such as Radiotopia y Maximum Funwhich have garnered a cult following.
The business is huge: Podcast advertising revenue is projected to hit $2 billion by the end of 2023, according to a PwC report.
Audioboom and Formula 1
The novelty of this Wednesday March 22 regarding podcasts comes from Audioboom Group, firm that announced that it renewed its association with “Formula One World Championship” to produce, distribute and monetize the official podcasts of the governing body of the highest categoryincluding shows like “F1: Beyond the Grid” and “F1 Nation.”
The podcast company, which is based in London, got an extension of the agreement until 2025.
As they explained, Audioboom Studios will produce the podcasts, the firm’s technology platform will manage worldwide distribution and the marketing arm will provide the monetization service through its advertising products.
According to data from Audioboom itself, the official F1 podcasts have been downloaded more than 80 million times since they were launched in 2018.
“F1: Beyond the Grid” is a podcast hosted by journalist Tom Clarkson who does in-depth interviews with drivers like Lewis Hamilton and Charles Leclerc. “F1 Nation“, Meanwhile, it is a podcast in which Clarkson participates, but also the world champion Damon Hill and the specialist in motor sports Natalie Pinkham.
Now read:
Merca2.0 launches its new podcast hosted by Álvaro Rattinger and Eddy Warman
YouTube goes by Spotify; add podcasts to your platform
Podcasts allow you to take advantage of time during downtime
