Podcast Revenues Worldwide (2017–2027)
Podcasts have surged in popularity over the past decade, transforming from niche content into a mainstream media format. This rising trend is evident in the growing number of global listeners each year, which is expected to rise by 8.6% in 2024 to surpass half a billion.
With this growth comes significant economic impact, particularly in podcast advertising revenues. In this article, we’ll dive into trends and forecasts of the podcast market worldwide, focusing on the years 2017 through 2027.
Podcast market growth (2017–2027): Table
|
Year |
Podcast revenues worldwide |
Annual change |
|
2017 |
$0.54 billion |
|
|
2018 |
$0.73 billion |
+35.2% |
|
2019 |
$1.07 billion |
+46.6% |
|
2020 |
$1.49 billion |
+39.3% |
|
2021 |
$2.15 billion |
+44.3% |
|
2022 |
$2.81 billion |
+30.7% |
|
2023 |
$3.46 billion |
+23.1% |
|
2024 |
$4.02 billion |
+16.2% |
|
2025 |
$4.46 billion |
+10.9% |
|
2026 |
$4.79 billion |
+7.4% |
|
2027 |
$5.03 billion |
+5.0% |
Global podcast revenues: 2017–2024
The latest statistics show that global podcast ad revenues have experienced remarkable growth from 2017 to 2024. In 2017, podcast revenues were recorded at just over half a billion dollars. By 2018, this figure had risen to $730 million, marking a 35.2% increase. The growth trajectory continued with 2019, reaching $1.07 billion, up 46.6% from the previous year and surpassing the $1 billion milestone for the first time.
In 2020, podcast ad revenues climbed to $1.49 billion, a 39.3% increase. The upward trend didn't stop there; 2021 saw revenues jump to $2.15 billion, marking a substantial 44.3% rise. A year later, the industry generated $2.81 billion in ad revenue, a 30.7% increase from 2021.
More recently, figures from 2023 show podcast ad revenue at $3.46 billion, a 23.1% increase from the previous year. Projections for 2024 anticipate revenues reaching $4.02 billion, marking a 16.2% growth. This steady increase over the previous few years underscores the expanding market and growing investment in podcast advertising.
Podcast growth: 2025–2027 forecast
Looking ahead, the forecast for podcast ad revenues from 2025 to 2027 indicates continued growth, albeit at a slower pace. In 2025, revenues are expected to hit $4.46 billion, a 10.9% increase from 2024. By 2026, the growth rate is projected to slow further, with revenues reaching $4.79 billion, a 7.4% increase. In 2027, the market is expected to grow by 5%, culminating in revenues of $5.03 billion.
The deceleration in growth can be attributed to several factors. Analysts say the slowdown is, in part, due to the “challenging advertising climate” affecting companies. Moreover, market saturation is also becoming more prevalent as the number of new podcast listeners starts to plateau. This means that advertisers may begin to refocus their budgets on other emerging digital formats, resulting in more moderate growth rates in the podcast market.
Podcast revenue per user (2017–2027)
|
Year |
Podcast revenue per user |
Annual change |
|
2017 |
$6.10 |
|
|
2018 |
$5.08 |
-16.7% |
|
2019 |
$5.22 |
+2.8% |
|
2020 |
$5.32 |
+1.9% |
|
2021 |
$6.42 |
+20.7% |
|
2022 |
$7.90 |
+23.1% |
|
2023 |
$8.42 |
+6.6% |
|
2024 |
$8.69 |
+3.2% |
|
2025 |
$8.68 |
-0.1% |
|
2026 |
$8.47 |
-2.4% |
|
2027 |
$8.15 |
-3.8% |
Looking at podcast revenue per user, the latest statistics show that the industry has experienced fluctuations in per-user revenue in recent years. According to the latest podcast advertising stats, in 2017, revenue per user was $6.10. This figure dropped to $5.08 in 2018, a decrease of 16.7%. There was a modest increase in 2019, rising to $5.22, and continued to grow slightly in 2020 to $5.32.
A significant surge occurred in 2021, with podcast revenue per user jumping to $6.42, a 20.7% increase. This upward trend continued in 2022, reaching $7.90, and in 2023, it climbed to $8.42. Projections for 2024 suggest podcast ad revenue per user will peak at $8.69.
However, forecasts indicate a decline starting in 2025, with revenue per user expected to fall to $8.68. The downward trend is projected to continue through 2026 and 2027, with revenue per user anticipated to be $8.47 and $8.15, respectively.