Earlier this year, Joe Rogan signed an exclusive deal with Spotify to the value of $100 million, proving that podcasting is both lucrative and extremely profitable. But what about podcasting is so attractive, and what’s responsible for its resurgence? These ten podcast statistics might help you answer that question and assist you in developing your podcast.
Comedy is the Most Popular Genre of PODCASTING
According to research by Statista conducted at the end of 2019, more than a third of podcast listeners listened to at least one comedy podcast within the week. These stats are based on Apple Podcast categories, so you’ll be delighted to know that podcasts like the Joe Rogan Experience, Water to Sandy, Beach to Wet, and Conan O’Brien Needs A Friend are all categorized as comedy podcasts.
51% of Podcast Listeners Are Male
In the US, 51% of podcast listeners are male. However, globally 23% of the female population listens to podcasts, whereas only 21% of the male population listens to podcasts.
Most Podcast Listeners Are Under 34
Podcasts are growing in the younger demographic. In 2011, only 11% of listeners between 11 and 24 listened to podcasts; now, they’re the most prominent consumers of podcasts at 40%. The second demographic is 25 to 34 at 39%.
As of October 2020, There Are 34 Million Podcast Episodes Available
While you may think 34 million podcasts are a sign of a saturated market, that’s not the case. By comparison, there are 31 million YouTube channels. Podcasts are still a growing medium, and therefore listeners are still flooding the platforms, as are new podcasters.
Most Listeners Listen During Their Commute
2020 Has been an eventful year for podcasts, according to Spotify’s predictions podcasts were set to be a record-breaking year, until the pandemic hit.
Since most listeners still listen to podcasts during their commute, a good portion of avid listeners was not tuning in to their podcasts at the start of 2020. However, by August of 2020, many listeners had begun tuning back into podcasts. For podcast creators, this data reveals the best time to go live with an episode: during the times that coincide with either the morning or evening commute.
1 in 5 Listeners Increase The Playback Speed
If you think you talk fast, clearly most listeners want a quick speaking host. According to recent data, 19% of listeners increase speed when listening to a podcast. Although podcasts are entertainment, a good few listeners are listening to catch up on the news or other current events, and listening at an increased speed helps them accomplish more in less time.
Solo-Style Podcasts Are Expected To Be The Third Popular Type of Format
Solo podcasts are becoming increasingly popular among both listeners and hosts. According to research by Grand Review Research, they will soon only rank behind interview and panelist formats by 2027. Solo format podcasts are also expected to grow the most, estimates reveal they’ll grow by 30% in the next seven years, outpacing current popular formats.
More Than Half of Podcast Listeners Have a Household Income of $75k or More
Knowing who your demographic is will help you create content that’s more suitable for them. Most podcast listeners are young and college-educated, resembling a typical suburban household.
8 Out of 10 Listeners Listen To A Podcast To Completion
Unlike most of the stats that have seen an increase in numbers, this is one number that is decreasing. Before, 86% of listeners would listen to an episode to completion now, only 80% do. For podcast hosts, that can be a sign to shorten podcast episodes ensuring more listeners listen to completion.
Podcasts Only Started Making Serious Money in 2015
Before 2015, podcasters were creating podcasts to share their love of the medium while sharing knowledge or interests. But that changed after 2014’s breakout podcast, Serial, became a phenomenon. After the success of Serial, advertisers began pouring more money into podcasts.
Now, it’s routine that the top podcasts make more than $1 million a year in ad revenue. Additionally, an average podcast host earns $87,274 per year, which, if they post weekly, is $1678 per episode.
Are you surprised by some of the podcast statistics? Share in comments.