2024 saw some big names in podcasts pull in big deals. Alex Cooper of the “Call Her Daddy” series inked a deal with SiriusXM worth around $125 million over multiple years.¹ NFL stars Jason and Travis Kelce signed with Amazon’s Wondery for their “New Heights” podcast worth more than $100 million over three years.² Both were in Spotify’s top 20 U.S. shows in 2023.³

Even billionaire Oprah Winfrey has recognized the appeal of a podcast, announcing her entry into the space in December.⁴ The show will host weekly interviews and a monthly chat at Starbucks (with which Winfrey has a partnership), complementing her existing media hold (including her website, cable network, and content studio). 

Content producers without huge contracts are also seeing success, as part of the $250 billion “creator economy.” In 2023, podcasters made more than $350 million in revenue on Patreon, a platform where creators can develop a community and offer free and paid subscriptions to access exclusive content, along with digital products in their own storefront.⁵ With over 40,000 podcasters, it’s the second biggest category of creators on the site.

Americans have been tuning in more to podcasts: In 2024, the majority of people aged 12 and older (67%) said they’ve listened to a podcast; that’s around 192 million people and up from 64% last year.⁶

Audio audiences have been making waves this year:⁷

• Nearly half of Americans (47%) have listened to a podcast within the last month, a 12% increase over 2023. 
• Women listeners have especially been driving growth, with 32% of females 12 and older listening to a podcast in the last week, up from 27% last year.
• It’s not just a one-off, either: Weekly podcast listeners tune in to eight episodes per week, on average.

An audio entry point

Podcasts can sway their audiences, with many listeners poised to take action after learning new information. For people who listened in the past year, here are some steps they’ve taken because of a podcast:⁸

• 60% watched a movie, read a book, or listened to music
• 52% followed the social media account of the podcast or its host(s)
• 36% made or tried a lifestyle change (like a certain workout)
• 28% bought something that was promoted or mentioned on a podcast

This ability to influence hasn’t gone unnoticed by companies outside the space, as 42% of ads during podcasts aim to drive brand awareness. Advertising on podcasts was forecasted to hit $2.28 billion in 2024.⁹

Listeners have the option to skip the ads on some podcasts, with companies opting for subscriptions as the trade-off. Amazon’s podcast network offers Wondery+ for $5.99 a month (or $44.99 annually) for ad-free listening and perks like getting to unlock new episodes early.¹⁰ Apple Podcasts offers millions of shows for free, with individual publishers given the ability to offer their own monthly or annual subscription that can include episodes without ads.¹¹

Expanding the form factor

People who want an experience beyond audio-only can find more podcasters tapping into video. More than half of the top podcasts in the final quarter of 2023 (16 of 30) were also made available as videos filmed during the podcast recording; that tactic grew from just seven of the top 30 being filmed during same period two years earlier.¹²

Crowds are also going wild for in-real-life experiences; entertainment producer Live Nation saw an all-time high for event attendance last year, jumping to 145 million. Being close to the action can strengthen people’s relationship with their money: Nearly half of Americans (47%) say they consider themselves financially successful if they can afford experiences like travel and entertainment, according to Empower research. 

Spotting this spending trend, podcasts are hitting the road to raise their reach and build stronger relationships with existing fans.

In Los Angeles this summer, Spotify held a residency for The Ringer podcast network, giving fans a chance to watch live recordings of six of its sports and entertainment shows.¹³ Spotify acquired the brand in 2020 for nearly $200 million,¹⁴ and Spotify was worth more than $100 billion in early December 2024.¹⁵

Celebrity guests on podcasts can also drive ticket sales. In a live appearance and recording of the “Acquired” podcast in September, Meta CEO Mark Zuckerburg sold out San Francisco’s Chase Center with around 6,000 in the audience. Tickets sold for $50 at face value.¹⁶

Turn up the sound

The U.S. media market has evolved over the past several decades across radio, television, music, and the internet. As podcasts blend tactics and bring content to audiences across subjects, companies and consumers should keep listening to see what’s next.