Podcasting involves the distribution of audio programs or video programs through the internet for digital audio players and mobile devices. Global podcasting market growth is driven by factors like increasing popularity of on-demand audio streaming, rising adoption of smartphones and mobile applications, and easy availability of free podcast content covering diverse topics of interest such as news, music, education and others. As more people consume content on mobile devices while commuting or engaging in other activities, there is huge popularity of podcasts as an innovative digital audio medium.
Market Dynamics:
Global podcasting market growth is driven by rising availability of free podcast content across diverse genres coupled with the easy accessibility of podcasts through podcast apps and platforms. Increasing smartphone penetration worldwide and the availability of high-speed internet connectivity is expected to drive the podcasting market growth. Podcasts offer an engaging and convenient medium for content consumption while travelling or multi-tasking. However, widespread copyright issues associated with podcast content and lack of standardized monetization models can hamper the market growth. The entry of established media players and tech giants into the podcast business can offer opportunities for market expansion through strategic investments and partnerships.
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