Spotify will overtake Apple Podcasts by the end of 2021, according to a market forecast. The Swedish firm Spotify has been seeing some positive growth in the recent years as it continues to invest heavily in podcasting. The company acquired podcasts such as the very popular “The Joe Rogan Experience” podcast.
The market research done by eMarkerter suggests that Spotify will have approximately 28.2 million podcast listeners by the end of this year. It also adds that Apple Podcasts will have around 28 million users at the same time frame. The report adds that Spotify continues to see major growth every year in podcasts while taking a share of Apple dominated pie.
The de facto to change
“By putting podcasts and music in one place, Spotify quickly became the convenient one-stop-shop for everything digital audio,” said Peter Vahle, Insider Intelligence’s eMarketing forecasting analyst. “Apple was the de facto destination for podcasts for a long time, but in recent years, it has not kept up with Spotify’s pace of investment and innovation in podcast content and technology. Spotify’s investments have empowered podcast creators and advertisers through its proprietary hosting, creation, and monetization tools.”
The report does not add much on the specific growth areas of Spotify’s podcast business. The fact that Spotify has both music and podcast in the same app does help by a large factor. However, other reasons such as new exclusive podcasts are also growth indicators for the company. Spotify has also acquired the popular podcast making app – Anchor – it offers the easiest way of creating a podcast.
Spotify reportedly started seeing some serious growth in its podcast business, starting early 2020. The pandemic forced people to stay home and as a result, a lot of people turned towards podcasts and old customers looked for more new content to branch out in the ever growing world.