Report Overview

Audio Market Outlook: Podcasting set to boost the audio market

Contents

Executive Summary

Worldwide: Rising smartphone penetration and increased listening time are both driving global audio app growth

Worldwide: Digital audio platforms are growing with podcasting moving into the mainstream

Australia: Audio listening: Broadcast Radio still leads audio consumption

Australia: Audio app usage to grow through to 2026, fuelled by uptake of podcasting

Music Streaming: Spotify to retain leading position despite market share erosion

Music Streaming: YouTube Music and Spotify competing for paid subs

Radio Streaming: Competing with alternatives, radio streaming has been expanding rapidly

Radio apps: Broadcast radio will be offset by the growth of its online counterpart

Podcasting: Podcasting usage is set to grow at 18% CAGR with appetite for on-demand content

Glossary and Methodology

About Venture Insights

Tables and Figures

Fig. 1: Number of smartphone subscriptions worldwide from 2016 to 2027 (in millions)

Fig. 2: Share of music listening time by device worldwide

Fig. 3: Comparison of local vs. global streaming app usage

Fig. 4: Global Music Revenues

Fig. 5: Podcast Listeners Worldwide

Fig. 6: Monthly reach of audio services (split by time spent)

Fig. 7: Number of devices in households used for audio

Fig. 8: Intention to purchase additional audio devices in households

Fig. 9: Audio app usage by type of platform (in millions)

Fig. 10: Audio app forecast by type (millions)

Fig. 11: Music streaming app usage

Fig.12: Share of music streaming app usage

Fig.13: Music streaming app usage forecast by provider (millions)

Fig.14: Music streaming: paid subscriptions by provider (m) and total revenue (AU$m)

Fig.15: Market share of paid app usage

Fig.16: Paid music streaming subscriptions forecast by provider (millions)

Fig. 17: Reach of audio usage

Fig.18: Historic uptake of radio streaming usage

Fig. 19: Market share of radio app usage

Fig. 20: Radio app usage by provider (millions)

Fig.21: Forecasted podcast app usage share

Fig.22: Podcast usage forecast by platform (millions)