The Investing in the Podcast Ecosystem in 2019 report was released on the “a16z” website. It includes some interesting data about podcasting.
- Over the course of the last 10 years, podcasts have steadily grown from a niche community of audiobloggers distributing files over the internet, to one-third of Americans now listening monthly and a quarter listening weekly.
- Podcast listeners are consuming 6+ hours per week of podcasts and consuming more content every year.
- For weekly podcast consumers, average weekly consumption is 6 hours and 37 minutes.
- On average, Americans listen to 7 podcast episodes per week.
- Roughly half of podcast listeners make $675,000 or more in annual income; a majority have a post-secondary degree; and almost one third have a graduate degree.
- There is also a gender gap with podcast listeners skewing mostly male, mirroring the gap among podcast creators as well. However, the gender gap has narrowed from 25% gap in 2008 to 9% today.
- Listeners are generally educated (30% graduate degrees), millennials (44%), and slightly more than half are male (though gap is closing).
- Since Apple launched its Podcasts app in 2012, smartphones have grown to become the most common device for podcast consumption.
- Podcasts are most often consumed at home (48%) or in a car (26%); macro trends around growing number of connected cars and smart speakers could impact this mix.
- Apple podcasts accounts for about 2/3 of all podcast listening.
- Now the second largest podcasting platform, Spotify introduced podcasts into the app in 2015 and has doubled its market share in the last year to 9%.
- Top 10 Podcast Publishers – a quarter of unique streams/downloads is NPR Podcasts. The rest of the Top 10 include: iHeartRadio, PRX, Wondery, New York Times, WNCY Studios, This American Life/Serial, Barstool Sports, ESPN, Daily Wire.
- Podcast ad revenue is growing but is still tiny compared to other content formats.
- Podcasts monetize at only $0.01 per listener hour, on average, 10x less than radio.