Podcasting has rapidly become one of the most consumed forms of content. Every day, millions of people tune in to hear the latest content from their favorite podcasters. With over 4.1 million podcasts as of 2024, a staggering 781% increase since 2018, the podcast medium has seen massive growth, and its reach and effectiveness are undeniable. Yet, despite this explosive growth, podcasting is still very much in its infancy. Like YouTube in its early days, podcasting is primed for exponential growth, making today the perfect time to start your own podcast.
There are many reasons why Podcasting continues to grow and remains one of the most effective ways to reach a large audience. Podcasts provide immense value to listeners and also creators, brands, and individuals behind them. Here are 10 key reasons why podcasting is such a valuable medium in 2024, based on my experience working in the podcast industry for over 10 years.
Reasons To Start a Podcast (Top 10)
1. Podcasts Are Accessible
One of the most compelling aspects of podcasting is how accessible the medium is. For creators, minimal equipment is required to produce high-quality content. You can distribute your podcast seamlessly via the Internet, enabling your voice to reach a global audience at the click of a button.
For listeners, podcasts are an incredibly convenient medium of content consumption. Whether you're commuting, exercising, or doing household chores, you can easily pause, rewind, and resume episodes at your convenience. Almost every phone sold today comes native with a podcast listening app right out of the box. The great thing about podcasts is that anyone can access them. While podcasting started with indie roots, businesses, corporations, and entrepreneurs have caught on and are leveraging podcasting as an effective way to share their message with their audience.
2. Personal Connection
Podcasts foster a more intimate connection between hosts and their audiences. The conversational tone makes listeners feel like they’re part of the story or discussion. Whether it's true crime or investigative journalism, listeners often feel deeply engaged, sometimes even becoming armchair detectives themselves. The experience is also enhanced by the fact that most podcasts are listened to through headphones, creating a personal and direct connection with the host.
3. Niche and Diversity
Podcasts cover an astonishing range of topics, allowing listeners to find content that matches their specific interests–no matter how niche. This diversity appeals to a wide audience and helps creators build passionate, dedicated communities. According to a recent survey, 74% of listeners aged 13 to 24 report listening to podcasts to hear unique perspectives not covered or found in mainstream media.
4. Cost-Effective
Compared to traditional forms of media, podcasting has a remarkably low barrier to entry. Basic recording equipment and software are all you need to produce and distribute your podcast. With all the advancements in technology, you can start podcasting with very little investment. This cost-effectiveness makes it an accessible platform for independent creators and ensures a high return on investment.
A podcaster I worked with previously hosted a radio show in the 1980s that cost them $1,500 per 30-minute episode. Today, you can produce a high-quality podcast for under $1,000, and reach a much larger audience.
For many businesses, podcasts have become a big part of their marketing strategy by sponsoring other podcasts or creating their own branded podcasts.
Branded Podcasts: A Powerful Marketing Tool
Branded podcasts offer companies a way to connect with consumers by creating engaging, story-driven content that subtly communicates brand messages. For instance, McDonald’s podcast The Sauce is an investigative series about the Szechuan sauce controversy, not a direct ad for their food. Similarly, GE’s The Message explores decoding extraterrestrial messages, highlighting their real-world tech innovations.
Branded podcasts allow companies to share the brand’s values and message in an engaging way that fosters long-term loyalty with listeners.
5. Engagement and Community
Podcasts naturally encourage ongoing listener engagement. Regular weekly releases keep listeners coming back for more and provide opportunities for them to suggest new topics, leave reviews, and ask questions. Online discussion groups, fan pages, and communities often form around popular podcasts, giving you the chance to connect with like-minded individuals. Some communities host meetups, conferences, and events that give you the chance to network and meet others.
6. Adaptability and Innovation
Podcasts offer creators flexibility. You can easily pivot or adjust your approach as needed. If a big news story breaks or industry trends shift, you can quickly release new episodes addressing the topic.
As technology evolves, so does podcasting. With the rise of smartphone accessibility, you can now stream and download podcasts anywhere, anytime. Features like AI editing, content recommendations, and voice recognition are transforming the space. In 2023, 25% of creators reported using AI tools to record, edit, or promote their podcasts.
7. Effective Advertising
Podcasts have proven to be a highly effective medium for advertising. Nearly half (46%) of weekly podcast listeners report having purchased a product or service based on a podcast ad. Ads read by the host can feel less intrusive and more personal, which helps build trust. 87% of podcast listeners say they don’t mind, or even “like”, host-read ads. Also in a recent survey, 63% of listeners said they “trust” their favorite podcast more than their favorite influencer.
8. A Positive Impact
Podcasts have the power to inspire, educate, and quickly establish you as an authoritative voice in your industry or niche. When an audience or community is built around a podcast or common purpose, there’s an opportunity to make a considerable impact. A true-crime podcast I worked on in 2017 helped bring national attention to an 11-year-old cold case, ultimately leading to two arrests. While your podcast might not solve a cold case, it can have a lasting impact on your listeners.
9. Creative Independence
Unlike most media, which are riddled with regulations and guidelines, podcasting offers almost complete creative freedom. With minimal regulations governing content, you have the liberty to explore any language, topic, or explicit content. Even with larger organizations like Spotify and Amazon making moves in the podcast space and the rapid growth podcasting has seen, there’s minimal red tape to deal with. No one is going to stop you from creating and publishing your podcast. Your podcast is your creative space to shine and showcase your unique personality and message.
10. Audio-First Medium
Podcasting's audio-first nature allows it to be consumed when and where video content cannot be. Whether washing dishes, driving, doing yard work, running, or even falling asleep, podcasts fit seamlessly into our daily lives. Even as video podcasts are on the rise, the audio-first roots of podcasting will always be a strong suit.
All these attributes make podcasting a powerful and growing form of media with a unique ability to connect with listeners on a personal level while providing content that caters to their specific interests. The future of podcasting is bright, and the best is yet to come. There's no better time to start your podcast than right now. Embrace the immense value that podcasting has to offer and become part of this exciting journey.
If you’re considering starting a podcast, schedule a free discovery call with me here. I’d love to discuss your podcast idea and help guide you on your podcasting journey.
