The global podcasting market size was valued at USD 12.8 billion in 2022 and is poised to grow at a CAGR of 28.3% during the forecast period 2023-2029. The primary factors that drive the market are the increasing adoption of smartphones and inexpensive internet.

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The global podcasting market segmentation:

1) By Genre Type: News & Politics, Society & Culture, Comedy, Sports, and Others.

2) Format Type: Interviews, Panels, Solo, Repurposed Content, and Conversational.

News And Politics to Dominate the Podcasting Market

Based on genre type, news and politics hold the highest market share. The major factor for the rise of this segment is that it is informative. The news and politics genre are famous in numerous segments such as one-on-one interviews, solo news updates, and panel debates. Many podcast listeners have become acquainted with daily bulletins, a roundup, which provide a brief summary of events of each day in 1 to 5 minutes and 5 to 10 minutes, respectively. These factors can drive the global podcasting market growth.

North America Podcasting Market

North America leads the global podcasting market growth due to the quick acceptance of technologically advanced products and the increasing audience base in this region. The market in Canada is expanding concerning audience engagement and size. The podcast advertising corporate in these regions are developing as publishers are concentrating on improving their ad donations while brands include the audio-on-demand podcast model into their service platforms which has created a demand for the podcasting market.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.

The global Podcasting market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.

In March 2022, Spotify acquired and used Podz to test for new podcast discovery feature.

In August 2022, Audacy acquired Boston-based podcast app Moonbeam.

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Key players’ profiles in the Podcasting market report are Amazon.com, Inc., Apple, Inc., iHeartMedia Inc., Megaphone LLC, Pandora Media, LLC, Audacy, Inc., Soundcloud Limited, Spotify AB, Stitcher, and TuneIn, Inc.

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