With more than 464 million listeners worldwide, the podcasting space has erupted over the past decade—and they have come a long way from the original era of podcasting in the late 2000s to what we see today on social media.
Today’s podcasts have evolved into a more sellable form, where genres like true crime and education have taken a huge leap in audience engagement.
So, if you are a podcaster or someone trying to scale one, this blog might do wonders for you.
Why is podcasting on a surge?
Podcast popularity is growing rapidly and the below graph depicts how they have gained more and more listenership over the last 5 years:
As per the Global Podcast Listeners Forecast for 2023 by Insider Intelligence, an estimated 40 million individuals are projected to join the ranks of first-time podcast listeners in the year 2024.
Podcasting was considered niche until the COVID-19 pandemic marked a different trajectory for the industry.
Not just that; a rise in the consumption of educational content has boosted podcast popularity over the past couple of years.
Podcasts as a marketing channel? Yes, podcasts are now a great platform to create an organic audience. Over 50 percent of marketers are already doing it.
Podcasting trends you can’t miss in 2024
1. Video podcasting is growing fast
When Google makes a move, it’s like a ripple effect across global markets. That’s why our top prediction for podcast trends in 2024 is the surge in video podcasting.
Here’s why: Google recently announced the closure of Google Podcasts, with plans to transition users to YouTube Music. Since Google owns YouTube, this move integrates podcasts into YouTube Music, tapping into its massive user base of 2 billion worldwide.
Users will enjoy the same podcast listening and downloading features as other platforms like Apple and Spotify, but with a twist—built-in support for video episodes. 📺
According to the Cumulus Media and Signal Hill 2023 fall report, YouTube rose from the third most popular podcast destination in 2021 to the number one spot in 2023. This upward trajectory suggests that YouTube’s dominance in podcasting is only gaining momentum.
Given YouTube’s vast audience and substantial promotional budget, it’s poised to shake up the podcasting landscape.
If you are a podcaster, create video content for maximum engagement, driven by YouTube’s huge reach.
2. AI has emerged as a powerful podcasting assistant
As a podcaster you might have to juggle multiple roles—producer, host, editor, social media marketer, website creator, and more.
But now, you can rely on AI to share some of that workload. 🧢👒🎩
A late 2023 survey by Headliner suggests that around 66 percent of podcasters have embraced AI tools.
The editing process has undergone a revolution. Platforms like Descript, Riverside, and Adobe now offer automatic transcription, text-based editing, and AI-powered audio enhancement.
Some productions are even experimenting with AI-generated podcasts, where an AI voice reads text compiled from recent news items. 👀
Tools like Ausha unveiled a groundbreaking podcast directory SEO tool, empowering podcasters to select and manage keywords for better visibility on platforms like Spotify and Apple.
3. Podcast content is being repurposed for short-form social media video
Podcast promotion is witnessing a surge, but so is the competition. in 2024, there are over 5 million podcasts compared to just 550k in 2018.
To stand out, you must explore new advertising channels.
In today’s world of fleeting attention spans, short-form video content emerges as a solution to capture the audience’s interest swiftly.
More podcasters are embracing this trend by repurposing their content for social media in bite-sized formats.
Short videos not only captivate but also offer the chance for long-form podcasts to be repackaged into multiple content pieces for various social media platforms like TikTok, YouTube shorts, Pinterest and Instagram Reels.
4. With worldwide elections upcoming, politics will be the hot topic
We anticipate a rise in nonfiction, political content this year.
2024 marks a significant election year for numerous countries, with over 2 billion individuals set to cast their votes in major elections across 50 nations.
This includes the highly anticipated US presidential election, and the Indian lok sabha election which typically dominates media discourse. 🌎
Podcast listener demographics strongly align with those of engaged voters, and these listeners have expressed a preference for “edu-tainment”—a blend of education and entertainment.
They seek informative and engaging content that sheds light on global happenings.
Therefore, during a pivotal election year, it’s likely that podcast audiences will gravitate towards political topics for insight and understanding.
5. Podcast live-streaming grows for real-time engagement
In 2022, the global live-streaming market surged to $1.24 billion, marking a robust compound annual growth rate of 20.6 percent and soaring to $1.49 billion.
Projections for 2027 are even more impressive, forecasting a remarkable $3.21 billion for the live-streaming market.
But why the shift towards live content in our era of on-demand everything?
It’s all about the desire for real-time engagement, that feeling of being part of the moment, which resonates strongly with today’s audiences.
This trend towards live-streaming is becoming increasingly prominent in podcast creators’ work.
These live streams offer a dynamic experience akin to webinars, where audiences can interact with hosts and guests in real-time.
So, you can say that live podcasting is the next big thing, and you must get started with it to stay ahead of the game.
Take Wendy Valentine, host of The Midlife Makeover Show, for example. She offers her guests the option of a traditional recorded interview or a live one streamed on platforms like YouTube and Facebook.
Beyond live streaming and in-person events, 2023 was a vibrant year for podcast conferences and gatherings like Podcast Movement and Podnews Live.
These events provided valuable networking opportunities and facilitated knowledge-sharing in the podcasting industry.
Expect such conferences to continue driving innovation and business growth in podcasting throughout 2024.
Ending note
If you are trying to set up a podcast, now is the time.
Capitalize on these trends and start your journey, and you shall reach the destination.
Lastly, always remember, as we mostly say content still is king. So make sure you add value to your listeners.
Because the investment here is time and trust us when we say, nobody wants to waste their time.
