India has seen a 34% jump in the number of monthly active users (MAU) of podcasts during 2021, from 71 million in 2020 to 95 million by the end of 2021. Moreover, only 12% of the Indian population have ever listened to a podcast, indicating immense room for growth, as per an analysis done by RedSeer.
It says that India is witnessing a steady increase in the usage of podcast entertainment over the last few years. The Indian podcast market is the world’s fastest-growing with immense potential.
The report says that the rise of DIY platforms has facilitated the emergence of independent content providers, resulting in an increase in the availability of new content. The popularity of smart gadgets like Amazon Echo, Apple HomePod, and Google Home has made it easier for the people to find and listen to podcasts.
It reveals that all podcast platforms combinedly account for 1% of the total time spent by Indian users on online entertainment. As per the analysis, the total time spent in October 21 on online entertainment was around 2,290 billion minutes. Social media takes up the most time (885 billion minutes), followed by messaging, OTT video, news aggregation, and short form apps. In the month of October, podcasts accounted for 2.5 billion minutes.
The podcast platforms are focusing on generating their own content and bringing in celebrities to narrate and host shows. It also says that platforms, such as Headfone and Khabri, are investing in stronger UGC filtering and recommendation engines.
The growth in podcast users, is happening on the back of diversified content, increase in the accessibility of smart devices and low data tariffs prevailing in the country. The Indian players have also focused on creating low data usage apps to deliver content, with diversification around vernacular, and celebrity-driven content. The mix of free and premium models to subscription also allows new users to experiment and consume this new form of entertainment.
The report states that advertisers and brands are getting attracted to the podcast players and the most successful platforms are the ones which have come up with multiple offerings. It also states that although players are diversifying into other audio entertainment avenues to increase user engagement & traffic, still podcasts are the major focus for all the players. The future of the podcast industry in India, as per the report, looks positive and is going to grow steadily over the course of the years.
/buzzincontent-1/media/agency_attachments/ovtHKkiRFrKggtFNaCNI.png)
Follow Us/buzzincontent-1/media/post_banners/ad6e19f7584f448c071466d4105c7a570602df410f7b462affc03b35e3258741.jpg)