According to the latest study, there are over 200 million podcast episodes and a minimum of 3.2 million active shows on the internet. The Podcast industry is growing massively with over 3 million podcasts now compared to 550k in 2018. At the same time, this industry is expected to evolve more with time given the changing audience preferences and technology. 

In the US, 7 in 10 Americans aged 12 and over have listened to podcasts and nearly 47% are monthly listeners. With more than 464 million listeners worldwide, the podcast industry has become one of the growing industries. Podcasts, which were considered to be a hobby, have now been considered as a profession. Many marketers include it in their social media marketing strategy. 

In this article, we’ll learn the benefits of using podcasts and some of the expected podcast trends for 2025. 

Benefits of using podcast

There are many benefits of using podcasts for businesses such as 

• Increase brand awareness: The podcast industry is becoming more and more popular with time. If the content is good, then the reach of the podcast is high. Podcasts help increase brand awareness and visibility. 
• Generate leads: Podcasts help in generating leads. Some marketers use podcasts as a lead magnet as well. 
• Opportunity for collaboration: Podcasts offer an opportunity for collaboration with industry experts or influencers. It helps build long-term relationships and increase brand awareness. 
• Gives business a voice: Podcasts give businesses a voice, they can spread their brand values and information more easily and add a humanistic tone to it. 
• Increase engagement rate: Podcasts increase your engagement rate. In fact video podcasts are becoming more popular as they add a new dimension to audio podcasts. 
• Build brand authority: Podcasts help establish brand authority and build trust in your audience. It helps in building transparency. 
• Boost traffic on the website: Podcast increases traffic on the website or your desired platform. If your podcasts are entertaining, informative, and relevant, people are more likely to explore your channel to find more such content. 
• New audience: It helps in attracting new audiences. It is one of the most cost-effective ways to attract new audiences. 
• Thought leadership: It helps in establishing thought leadership. Podcasts carry the capability to transform or change the mindset of a user. 
• Effective networking: It helps in better networking. You can attract new opportunities even from different industries for collaboration. It helps in improving your network. 
• Monetization: You can use podcasts to earn money as well. Some businesses use podcasts as it work as an additional income. 
• Build relationships: It helps in building relationships and encourages customer loyalty. These loyal customers can act as brand advocates and work as social proof. 

Podcast Trends in 2024

The podcast industry will evolve with changing audience behavior and preferences, technological advancement, and AI. Let us explore some of the podcast trends in 2024 

• Video Podcast: According to a report, in Q1 of 2024, there was a 39% increase in Spotify for average daily streams of video podcasts globally. Also according to the New York Times, in Q4 of 2023, more than thirty most popular podcasts in the US were available in video format. Also according to Morning Consult, 46% of listeners prefer consuming a video with a podcast. 
• Advertisements: podcast ad revenue is expected to grow by 12% in 2024. It can surpass $2 billion. According to a survey by Edison Research, weekly listeners in the US, 46%  have purchased a product and service after hearing the ad in the podcast. This has led to an increase in advertisements in podcasts. Also, 3% of listeners have said that they listen to all the ads on a podcast, this is the highest percentage of all media channels. 
• Competition: According to OFCOM 2024 study an average podcast listener uses three different platforms for consuming podcasts. As of June 2024, Spotify was the most popular listening platform with 34.4% of users. In such a competitive market, companies invest and adopt different strategies to stay ahead of the competition. They try to acquire exclusive content, enhance their services and features, etc. 
• Monetization: Podcasters are creating new ways of monetization such as some follow the Netflix pattern of subscription, some use YouTube, while others pitch their content to some ott platforms. The ways of monetization are also evolving and podcasters are trying to create new opportunities for monetization. 
• Live podcast: Many podcasters are opting for a live broadcast of the podcast. These live streams and live broadcasts can increase engagement and open new opportunities for revenue. These live broadcasts can be interviews, Q&A, debates, etc. while platforms also offer virtual gifts in these broadcasts. Some of the popular live-streaming platforms are YouTube Live, Facebook Live, etc. 
• Learning and educational podcast: According to research, the podcast audience is educated. They crave educational and informative content. 55% of listeners listen to podcasts for learning purposes followed by entertainment. 
• Global: Podcasts have witnessed an increase in their listeners globally. It is not limited to any particular area but globally the podcast phenomenon has grown and its listeners have increased. 
• Podfluencers: 63% of people trust their favorite podcaster more than any social media influencer. Millennials and Gen Z trust their podcasters so much that they trust the ad placed in their podcast as well. Because many podcasters have created customized merchandise or branded products. Printify has a special page for podcasters. 
• AI, voice, and technological innovation: AI has introduced new opportunities for content creation, personalization and designing, etc. AI helps in script creation and voice assistance. Even the voice technology has changed the way podcasts were created. Creators use sophisticated voice recognition and synthesis tools to improve the experience of both the listeners and creators. These technologies help in creating engaging and interactive podcasts. Another major trend is programmatic podcasts which use AI to ensure that the right content is reached to the right audience. This enhances the targeting. Some even use data-driven podcasts to enhance their visibility and engagement.

• Wellness podcast: This genre has witnessed a significant rise in the last few years. Mental wellness and self-improvement is a genre that is becoming more and more popular with time. Society is becoming more concerned about mental well-being and personal growth. Podcasts discussing tips for a healthy mindset, mental health issues, etc are some of the trending topics. 
• Niche podcasts: Niche podcasts have also emerged wherein they target specific interests, hobbies, audiences, etc. These podcasts can be related to finance, beauty, sports, politics, movies etc. These niche podcasts help in creating a loyal audience or community. Also, another major trend is private podcasts, where you create content only for paying subscribers. It helps in fostering loyalty. Sometimes podcasters create a combination of the two. Where some content is available to an exclusive audience while the rest is for everyone. 
• Branded podcast: Branded podcasts are becoming a new trend. In 2022 Apple podcast had an 82% increase in the number of branded podcasts. They act like marketing assets for these brands. It also helps in establishing brand authority or establishing yourself as a thought leader. 
• Short-form content: Short-form content is preferred more than long-term content. Many podcasters create small clips of their long podcasts. This boosts their engagement and helps in catering to every kind of audience. 
• Show note: Podcast show notes are becoming an important part of the listening experience. A well crafted show notes such as links, resources, timestamps, etc should be mentioned. This helps in engagement. 
• Multilingual podcast: Now,  many podcasters are trying to target every audience not only in English but globally. This helps them in creating a market in non english speaking markets as well. Podcasts are now created in multiple languages so that their reach is increased globally. 
• Interactive podcast: Technologies like Virtual Reality etc help podcast creators to create interactive videos. Also, there are many tools available that let the creators create an element of interaction in their podcasts. Spotify has included a feature a poll where users can answer directly from the app. Also, you can add features wherein you can interact with users in real-time. 

The podcast industry will continue to evolve and irrespective of how trained or experienced you are, you still need to learn the latest trends of the podcast industry. To stay relevant in the market so must stay informed and should be ready to adapt to the change. Creating a podcast is not sufficient but effectively marketing it is also important for high engagement, visibility, and conversions. To know more about how to market your podcast, Lumia 360 creates customized digital marketing strategies that cater to your specific needs, email us at info@lumia360.com or call us at 514-668-5599 to know more about our plans. 

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