Mediavision: Consumer payments for podcasts continues to increase
6 December 2022
Consumer payments for podcasts have grown substantially. This is concluded in Mediavision’s third quarter analysis of the Swedish audio market. The podcast advertising market has also grown, demonstrating an increasing interest from listeners as well as advertisers.
Consumer payments for podcasts increased by 50 percent during the third quarter of 2022, compared to the same period last year. Consequently, annual revenue from consumer payments on the Swedish podcast market is expected to surpass SEK 150 million in 2022. This is concluded by Mediavision in its latest analysis of the Swedish audio market.
The advertising market has also grown, but less than previously expected. Recently, the advertising market for podcasts (among others) was revised down by IRM (Institutet för Reklammätningar), in the light of the recent economic developments. The advertising market for podcasts is now expected to grow by 28 per cent this year, amounting to a total of SEK 360 million. Thus, advertising revenues are notably bigger than consumer payments, although the latter currently grows faster.
– Without question, the podcast market is experiencing growth right now, comments Marie Nilsson, CEO of Mediavision. Listening is increasing and more people pay to access content. In times of economic instability, consumer payments are vital for a lot of actors in the media industry, as they are often considered less sensitive to macroeconomic fluctuations than advertising investments. Hence, consumer payments could become even more important for podcast actors in the near future, should 2023 bring about a tougher climate on the advertising market.
Mediavision is a Nordic independent analysis and consultancy firm, focused on analysis and strategy within traditional and digital media. 3,000 respondents between the ages 15 to 74 are surveyed each month in Sweden.
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