Product details

The podcast advertising spends which were about USD800 million in 2020, was expected to double to USD1.7 billion by 2022, growing at about 20%, due to rising popularity of podcast with marketers, besides impressive audience growth, and a youthful audience profile. Sensing the opportunity, analysts noted that the technology companies like Spotify, Apple, Stitcher, Castbox, iTunes, and serval other players including Google Podcasts were hosting, distributing podcasts, and paid more attention to discovery like never before. Spotify acquired Gimlet Media, Anchor, Parcast, the Ringer and Megaphone, besides gaining exclusive rights to top of the podcast charts such as Joe Rogan's podcast. Daniel Ek, CEO of Spotify, said that the evolving format of podcast was enabling endless ways to tell stories to serve, entertain, educate, challenge, inspire, or to bring everyone together and break down cultural barriers. Spotify, with a total of 365 million Monthly Active Users (as of August 2021) intended to encash the growth potential of podcasting with its newly introduced 'Streaming Ad Insertion', tool that allowed more targeting and measurement, including the age, gender, and device type of the users. Analysts wondered whether Spotify, riding on the tech investments would be able to emerge as a formidable player to disrupt the podcast industry and monetise, at the same time.