How Starting a Podcast Will Increase Your Business Revenue

Time is money, so we are going to try to make this article quick and to the point. Podcasting was invented in 2004 by Adam Curry and Dave Winer, and to this day, podcasting remains an untapped creative channel with a consistent growth rate of 20% new listeners per year.

Here are some quick statistics to help you better understand the trajectory of podcasting as a digital branding strategy to increase business income.

According to Podcast Insights 2021, there are over 2 million active podcasts. To put this in perspective, in 2019 there were only around 500,000 active shows.

To date, 78% of Americans are aware of podcasting.

Almost 60% of US consumers listen to podcasts.

Over 160 million Americans have listened to a podcast in their lifetime.

65% of people listen to the completion of an episode.

41% of the US population listen to podcasts on a monthly basis.

28% of the US population listen to podcasts on a weekly basis.

The average listener consumes 44 minutes of audio media per day.

Podcasting is growing more popular in the older generation. The podcasting medium is no longer considered a “young”.

Audio platforms boast podcasts are the best brand awareness.

Podcast ad revenue is expected to exceed $2 billion in 2023.

The demographic of podcast listeners is diversifying. When looking at race and gender specifically, data gathered indicates user predictability is a thing of the past. In 2021, the majority of podcast listeners were still mostly white men, but it has become more popular among female and Hispanic/Latino listeners during recent years.

So what does all of this mean? Strategically, podcasting = more opportunity. More opportunity provides a chance to take advantage of an occurrence in the market for business gain.