India to have 95 million monthly active users of podcasts by the end of 2021 says RedSeer Consulting

India’s hunger for podcasts has deepened over the past few years and as per a RedSeer report, only 12 per cent of the Indian population has ever listened to a podcast, indicating immense room for growth.

The management consulting firm credits the rise of the DIY platform that has aided the emergency of independent content providers, increasing the availability of new content. It also says the popularity of smart gadgets like Amazon Echo, Apple HomePod, and Google Home has made it easier to find and listen to podcasts.

As per its analysis, the total time India spent on entertainment in October ‘21 was around 2290 billion minutes in which podcasts accounted for 2.5 billion minutes. Social media came second with 800-885 billion minutes spent.

To keep the audience engaged platforms are focusing on and generating their own content, high-quality UGC would take longer. They are devoting more resources to producing high-quality content and bringing on celebrities to narrate and host shows. Few platforms, such as Headphone and Khabri, are investing in stronger UGC filtering and recommendation engines.

What is driving the growth? It is on the back of diversified content, smart devices and low data tariffs. Indian players have successfully created low data usage apps to deliver podcast content, with diversification around vernacular, and celebrity-driven content. The mix of free and premium models to subscription also allows new users to experiment and consume this new form of entertainment.

By the end of 2021, India will have 95 million monthly active users, a 34 per cent increase from 71 million active users in 2020 says RedSeer.

The newfound popularity of podcasts is attracting advertisers and brands. Platforms with multiple offerings generate the highest traffic. Although players are diversifying into other audio entertainment avenues to increase user engagement & traffic, still podcasts are the major focus for all the players.

As India’s internet user base grows with a larger audience warming up to this new entertainment format, the podcast market will unravel in exciting ways.

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