From The New Publishing Standard:
In a presentation for the US Audio Publishers Association in September 2021 TNPS suggested a more likely valuation of $37 billion, while acknowledging that could be conservative.
Then came the Spotify and Storytel US acquisition news and TNPS made clear our $37 billion forecast for 2030 was looking “tame”.
The latest forecast, from Denmark-based podcasting platform Podimo, projects a 2030 audio market valuation of $50 billion, and here at TNPS we’re not seeing that is unrealistic in the light of recent developments.
It was back in July 2019 that TNPS reported, to the amusement of many in publishing, that Mofibo founder Morten Strunge had raised $6.7 million in seed funding for a beyond-crazy idea that money could be made out of podcasts, which everyone back then regarded as the poor man’s audiobook, only good for giving away free to try upsell the real thing.
. . . .
The genius of Podimo lies not just in giving consumers quality content, but in rewarding creators through its “user-centric” revenue-sharing model.
In a press release Strunge explains:
Our model provides premium content and a seamless user experience through AI-driven personalized recommendations and video trailers. As a full-service content production house, we can enrich existing IP in new and exciting ways, as well as produce our own IP, challenging what listeners can expect from short and long-form audio now, and in the future.
While Strunge doesn’t offer any detail on his projection, he asserts the podcast and audio market will,
grow beyond 50 billion USD over the next 5-6 years.
Strunge went on:
…With more and more audiences discovering compelling, short-form, spoken word audio every day. It’s a tremendous opportunity, and with our strategic focus on content in local markets’ native languages, we feel well-positioned to grab a substantial part of this market.
With a solid foundation, we can accelerate our investments into premium original and exclusive content from today’s most exciting and important voices, bringing in more users and bigger payouts to creators, while applying our learnings to new market expansion.
Link to the rest at The New Publishing Standard