Podcasts Q2 2020 Spotify Takes an Early Lead
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The 20,000 Foot View: Podcasts have become the next battle front for audio. Spotify’s ambitious content and product strategy have enabled it to become an early leader, but the podcast market is still in its infancy, with adoption far lower than radio or streaming music. Podcasts have greater long-term market potential than music streaming but with many divergent objectives among key players, the interplay of product and content strategy will delineate the competitive marketplace.
Key Insights
- In 2020, led audio consumption with weekly user penetration, ahead of streaming at music radio at and at
- Spotify is the leading destination platform for users. In 2020, of podcast used Spotify, points ahead of in second place
- Spotify podcast penetration peaks at of podcast in Germany and is lowest France
- ACAST podcast penetration peaks at in the but falls to in Australia, Downcast reaches in the US only in Germany
- Spotify is podcasts to increase its streaming share: of Apple Music weekly users that are also podcast get some of their podcasts Spotify
- However, the that Spotify’s exclusive podcasts are front of the paywall makes vulnerable during the recession to cancelling in favour of Apple while retaining the free app podcasts
- In the the BBC’s Sounds app is second most used platform for after Spotify and far ahead Apple in third of BBC Sounds weekly average listeners use it for podcasts, compared to for NPR
- BBC Sounds a blueprint for broadcasters to app-centric product approach as the of integrated audio strategy to podcast adoption and audience transition
- Proving podcast on investment to advertisers will crucial during the recession of podcast weekly average users usually skip ads in podcasts, but said they are more likely to pay attention to an audio ad than ads that are displayed online
Companies and brands mentioned in this report: ABC, ACAST, Apple, Apple Music, Apple One, Audible, BBC, BBC Sounds, CBC, Downcast, France Radio, Global, Google, Luminary, NPR, Overcast, Spotify, Stitcher