Podcasting Transforms Into Corporate Mainstay After 15 Years of Growth
The podcasting industry reaches a major milestone in 2019 as massive corporate investments fundamentally shift the medium's independent roots. Advertising revenues and high-profile acquisitions signal that audio shows are now big business.
Podcasting experiences a defining breakthrough in 2019 after 15 years of steady, organic growth. The medium historically thrives on its accessibility, allowing anyone with a computer and an idea to create content, but corporate America fully embraces the format this year in a shift reminiscent of punk rock's mainstream arrival.
Spotify leads this corporate charge by committing between $400 million and $500 million to acquire podcast networks like Gimlet Media. This aggressive investment strategy mirrors Netflix's approach to original video content as Spotify attempts to close the gap with Apple's long-standing dominance in the audio space.
Financial numbers confirm this explosive transition, with podcast advertising revenue projected to reach $678.7 million in 2019. Despite this massive influx of cash, the industry still operates much like the wild west, leaving many creators uncertain about how to effectively monetize their shows amid the rapidly consolidating landscape.