In 2020 alone, research arrived at an additional 3.6 million American podcast listeners. This suggests that the podcast audience in the United States is rising at 20% each year. With such astounding numbers, you may be wondering if it’s finally time to start a podcast.

Looking forward to the long voyage, producing exciting content for podcasts may take years to create a following and make a profit. The top five US podcasts, according to Edison Research, have been active for an average of three years (often longer) and 100 episodes. If you’re wary of committing to a long endeavor, consider advertising in an existing podcast or appearing as a guest on one.

To help you see what to expect when you start a podcast let’s carefully dissect the 2021 Communications Benchmark Report.

Podcasts by the Numbers

Although podcasting is not a new phenomenon, only 22% of Americans knew it 14 years ago. Since then, 75% of Americans have heard of podcasts and today, listeners have access to over 1.5 million shows and 34 million episodes of various content.

This simply goes to show that the industry is far from dead. According to a 2020 Nielsen report, the US podcast audience will triple by 2023.

Podcasts in 2021

Podcasts are a great platform to accompany your audience as they allow for multitasking daily. Listeners seek podcasts while driving, cooking, working out, or doing other domestic chores. Podcasts, as opposed to television, deliver enjoyment and information without the usage of a screen.

Appealing to a wide range of tastes, podcasts offer anything from interviews to drama, comedy, social commentary, and news, as well as everything in between. The possibilities are unlimited, and themes can be somewhat specific. They allow you to go on a journey everywhere you go while interacting with information, paying attention to advertising, and engaging in sponsorship messaging. As a result, podcasts can help businesses build devoted fan bases. 

Reasons to Launch Your Own Podcast

1. Broaden Your Reach

You’re in luck if your target demographic consists of white, educated, middle- and upper-class consumers aged 18 to 54. Monthly podcast listeners, at 56%, are somewhat more male than female, according to Edison Research’s 2017 Podcast Consumer Report. Regardless of this statistic, you will broaden your reach when you utilize podcasts for your brand or business.

2. Draw a Sizable Crowd

According to Nielsen, roughly 80% of listeners finish an episode. A typical podcast episode is almost 2,580 seconds long (or 43 minutes). This allows you to delve deeper into a subject without worrying about losing your audience after three minutes.

3. Make Room for Growth

With podcasts, growth and development may be endless. Fewer than a quarter of Americans listen to podcasts weekly, and only 37% have done so in the recent month. While this still represents millions of people, it also means that more remains to be reached.

The good news is that Americans want to consume more media, and providing this broad audience with new options will continue to diversify their media intake.

4. Enjoy Increased Accessibility

Podcasts are sometimes easier to consume than watching a video. You do not need to be a professional or have expensive video equipment because no one is required to be on camera. So if you’re starting a podcast, you don’t need to spend much as audio equipment costs less than $100. Furthermore, audio editing is significantly more straightforward to learn than video editing.

It is also not necessary for you to be well-known, as the subject you’ve chosen is what captivates them. According to thepodcasthost.com, 40% of those polled utilize the search feature provided by their podcast provider to find new podcasts. People don’t care who you or your guest are, according to the same report. Assume that brand or name recognition is not the primary determinant of popularity.

Conclusion

The rising popularity of podcasts may not guarantee that they will work for your specific business, but doing research surrounding your competition and business style can help determine if this is the right medium to try.

Ask yourself what your actual goal is when launching a podcast. If you don’t set the right goals, you risk burning out after a few episodes. However, if you believe you’ve found your specialty and have an audience waiting to hear from you, perhaps it’s time to start podcasting.

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