The news: Podcasting, while still an underrated channel for many marketers, is seeing slower growth in the US, according to our newly released forecasts for podcasts and US digital audio listeners.
Overall, listening to podcasts continues to represent a significant portion of total digital audio consumption. The percentage of digital audio listeners who do not subscribe to podcasts will drop below 50% in 2023 for weekly listeners.
Who’s winning the podcast wars: In the US, Spotify is still adding subscribers, but its growth is decreasing.
Spotify monthly active users (MAUs) are rising, but a little more slowly than anticipated. Our projection for MAU growth has decreased from 7% to 6.0% for 2022. We now expect 88.4 million people will use Spotify this year.
It’s not all bad: While a slower rise in podcast listening this year has affected Spotify, its podcast listeners will increase by 13.8% this year to 32.2 million, outpacing general podcast listener growth (5.0%).
Why it matters: Podcast growth is slowing in the US, but that’s merely a sign of the platform’s maturity. It still remains an opportunity with many advertisers who have overlooked the channel.
11 Times SquareNew York, NY 100361-800-405-0844