Top 5 Podcasting Trends to Look Out for in 2023

It's hard to believe podcasting has only been around for just over a decade. In that time, the industry has grown and changed at an incredible pace. Whether you are a content creator, avid listener, or marketer looking for new ideas, the podcast industry has a lot to offer you. What can we expect from the podcast industry in 2023? We've done some research to bring you the top podcast trends for the coming year.

Tune in and don't miss a chance to stay ahead of the competition!

Industry Stats to Consider

As podcasting continues to grow, the industry is experiencing tremendous growth in terms of listenership, revenue, and variety. One report observes the behavior of podcast listeners from 18 countries, including the US, Canada, France, Germany, and Brazil. According to the report, the number of podcast listeners worldwide will grow to over 465 million in 2023. Moreover, podcast industry revenue is projected to surpass $2 billion in the same year.

Another factor to consider is the ever-growing number of podcast shows and episodes. A constantly-updated report suggests more than 2.9 million podcasts are available on the web, with the number of episodes exceeding 150 million.

In the US market, podcast listenership studies imply a growing trend of podcast subscribership in the US. According to a consumer survey by Infinite Dial 2022, over 62% of respondents listened to a podcast at least once. The remaining 38% listened to a podcast last month, while 26% listened to a podcast in the previous week. This means people are increasingly signing up for podcast subscriptions – a trend we predict will continue in 2023.

What's so special about the industry that so many people are engaging with it? Let's look at some of the top podcast trends for the next year!

Trend #1 Increased Ad Spending

In times of extreme competition, podcasts are increasingly becoming essential to advertising and marketing campaigns. Marketers are allocating more of their budget to podcast ads, allowing them to reach a more targeted audience with precision.

Platforms like Spotify Advertising offer advanced features like dynamic ad insertion and targeting, helping companies make more informed decisions about their podcasting campaigns. This trend will likely continue growing with an increase in ad spending on podcasting.

Several resources claim podcast ad spending will double by 2024, growing to over $4 billion by 2024. This is huge compared to the $1.4 billion spent in 2021 and $2 billion in 2022, pointing to a healthy growth trajectory for podcasting as an effective ad medium.

Trend #2 The Rise of Niche Podcasts

Big names no longer dominate the podcast industry. While mainstream shows are still popular, niche podcasts are gaining ground. With the increased availability of podcast production tools and platforms, it's becoming easier for podcast creators to generate quality and engaging content on specific topics. Thus, targeting a more focused and engaged audience is available not only to large podcast networks but to independent creators as well.

For instance, we see a surge in travel stories, interviewers with prominent people, personal development, and health-related podcasts. Trendy and creative podcast topics engage the audience more and have a higher chance of becoming successful.

Trend #3 Corporate Podcasting

The business world is also taking advantage of podcasting as a marketing tool. Corporate podcasts deliver brand messages and generate meaningful conversations with customers.

Moreover, podcasting has also become an integral part of digital marketing campaigns. Companies are embracing this new marketing method to promote their products and services. More and more companies are investing in creating original podcast shows to stay ahead of the competition.

Another form of popular content is sharing industry-specific insights with the help of podcasting. Companies can use podcasts to provide valuable information about their industry and products, thus, positioning themselves as thought leaders in the field.

Trend #4 AI to Rule the Market

The global artificial intelligence (AI) market is expected to grow by $13 billion during 2022-2026, with the audio and speech recognition market as one of the main contributors.

Speaking of the future of AI in podcasting, natural language understanding (NLU) is the leading technology driving podcasting advancements. NLU can generate detailed transcripts of audio recordings, enabling powerful search and analysis of audio content. AI-powered solutions will drive podcasting today and in the years to come, allowing producers and marketers to create content quickly and accurately.

Podcastle is a robust web-based platform that provides all the necessary podcast production and distribution features. The platform is powered by an AI engine that enables reliable automatic audio transcription, speech recognition, content editing and more.

The unique creator toolkit has everything an amateur or professional podcaster needs to record and edit. Podcastle's AI-powered system can turn any new episode into a studio-quality audio production. Its Magic Dust feature can filter out background noise in seconds, Softening the loud voices, boosting the quiet ones, and leaving you with perfectly balanced and clear audio for immersive storytelling.

All in all, podcasting will become bigger, better, and more diverse with the help of AI-driven solutions. The industry is set to witness a massive transformation from sophisticated AI-powered creation tools to advanced analytics and content management.

Trend #5 Changes in Listeners' Behavior

Alongside the growing popularity of podcast listenership, the way people consume podcast content is changing. As the industry matures, listeners are no longer satisfied with a single platform that offers limited choices. They want more, and are prepared to invest in the best podcast listening experience.

People consume podcasts primarily for entertainment and education. Nevertheless, today, more and more people are using podcasts to stay updated on the latest news, follow new topics of interest, or relax after a long day. Over 38% of Americans listen to podcasts to improve their mood.

Another survey suggests over 22% of listeners choose podcasts as an alternative to music, while others choose podcasts to fill their free time (25%).

Moreover, subscription-based services are now gaining ground. FOMO (Fear of Missing Out) perfectly describes the rush of listeners to subscribe to the trendiest podcast shows. In a subscription-based model, users have access to exclusive content created by podcasters.

Subscription-based services are expected to increase their market share to $275 billion globally by 2023. This includes but is not limited to exclusive podcasting content, early access to podcasts, and features like interactive transcripts.

As the industry evolves, these changes need to be taken into consideration by podcast creators and marketers. This and other podcasting trends have taken the industry by storm, and they don't seem likely to slow down anytime soon.

The Bottom Line

Overall, the podcasting industry is set for massive growth and expansion over the coming years. From AI-powered tools to subscription-based models, podcasting will continue to revolutionize digital marketing and content creation. As the industry matures and new trends emerge, marketers and podcasters must stay updated with the latest changes to keep up with the competition and provide consumers with a pleasurable listening experience.

With the right strategies, tactics and tools, podcasting can provide entertainment, education and business opportunities. Regardless of audience size or content genre, podcasting is here to stay as one of the most popular streaming media platforms.

So hop on board and take advantage of the revolution. Choose the best tools in the sphere to access your online podcast studio and create a podcast that stands out from the crowd!

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