As a consumer, we pay attention to something once it becomes the culture – once it has the ‘cool’ factor to it.
We saw it with blogs, with Facebook, with Instagram, with content creation in general and now we are seeing that happening with two things, gaming, and podcasting.
For today, let’s focus on podcasting, shall we?
For one, it hasn’t become mainstream yet (like video), not only in India but all over the world. However, since the last few years, that trend has only been rising with the statistics to prove that point.
With Spotify announcing over a million and a half podcasts on their platform, splurging $100M on Joe Rogan’s podcast, acquiring Gimlet, The Ringer, and more of such podcasts, or hosting Michelle Obama’s podcast, or buying a hosting platform like Anchor. That says something, doesn’t it?
Focusing only on India, PwC indicates that India is already the world’s third-largest podcast market. Only the US and China are ahead. Monthly podcast listeners in the country crossed 40 million at the end of 2018, growing 57 percent annually.
Further, Google states that India is one of the top five countries using its podcast app. There are no further stats beyond that point, however looking at India’s podcast charts, one can easily conclude that those numbers have only doubled, if not tripled, until now.
If this hasn’t convinced you already, the podcasting industry is expected to generate $1 billion by 2021, according to PwC.
How about that?
Do you think this is the best time to start a podcast then?
P. S. I have a daily podcast, Mindset Marketing Movies – an RTH24 podcast – daily digestible episodes on mindset, marketing and movies.
Today’s podcast topic is on ‘How much does it cost to start a podcast? Listen to it here – https://open.spotify.com/episode/2wMFPmU6xbvEmsb14UDgez?si=XhpuxQASRH6TWEDRbWhOOg