The number of US podcast consumers has more than doubled in the past decade — and there's still a long runway for growth. An estimated 180 million (64%) US consumers over the age of 12 are familiar with the term podcasting — yet only 73 million (26%) listen to podcasts on a monthly basis, per Edison Research and Triton Digital.
And the podcast listenership base continues to grow in the US amid declines in consumption of other premium ad environments. By 2023, Business Insider Intelligence predicts over one-third (106 million) of the US population over the age of 12 will regularly listen to podcasts, up from 74 million in 2018. Meanwhile, linear TV is anticipated to reach 80 million US households in 2023, down from 90 million in 2017, per Digital TV Research.
Entertainers, music streaming platforms, and smart speakers will play a role in furthering podcast listenership growth throughout the next five years. As more high-profile celebrities, internet personalities, and franchises launch their own podcasts, they can convert fans who weren't previously familiar with the medium into regular podcast listeners. Both music streaming platforms and smart speakers could introduce consumers to the medium too, and will also help reduce consumers' friction in accessing and finding podcasts.
Podcast listeners present several key benefits to brands that make the medium ripe for success for [...]