In 2015, the podcast world was buzzing with excitement following the success of “Serial” and “Invisibilia,” a science-based narrative series produced by NPR that explored the invisible forces behind human behavior. Within three and a half months of its debut, Invisibilia had garnered nearly 40 million downloads, surpassing even the impressive numbers of “Serial.” However, fast forward to 2021, and the podcast industry is facing significant challenges, as evidenced by the recent cancellation of Invisibilia and three other NPR podcasts due to budget cuts. The industry is experiencing a “contraction of the advertising market,” leading to smaller budgets, fewer acquisitions, and diminished dealmaking. Nevertheless, podcasting remains a growing medium, with 90 million listeners tuning in each week and US podcast revenue projected to climb to $4.2 billion by 2024. This fact has led to the emergence of smaller, boutique podcasting companies, such as Magnificent Noise, Campside Media, Prologue Projects, Pushkin Industries, and Kaleidoscope. While the podcasting landscape may have changed, it is clear that the medium still has room to grow, and there are opportunities for new players to enter the market and succeed.
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Type: “Podcast Mania: Is The Development Over or Simply Getting Began? Do not Pass over Out!”
