The podcasting landscape underwent a dramatic transformation in 2024, marked by the explosive rise of video podcasts. This shift is evident across major platforms, with Spotify witnessing a significant surge in video podcast consumption and YouTube solidifying its position as a leading podcast listening destination. The appeal of video podcasts lies in the enhanced connection they foster between creators and their audience, allowing for a more engaging and nuanced experience beyond the limitations of audio-only formats. This evolution has prompted strategic responses from both Spotify and YouTube, each vying for dominance in this burgeoning market.
Spotify’s internal data reveals a remarkable increase in the prevalence of video podcasts among its top performers. In 2024, over one-third of Spotify’s most popular podcasts were video-based, a substantial jump from the one in seven recorded in 2023. This growth is exemplified by the platform’s two leading podcasts, “The Joe Rogan Experience” and “Call Her Daddy,” both of which leverage the video format. Spotify reports a 140% year-over-year increase in video podcasts within its top 50 U.S. podcasts list, further underscoring the format’s ascendance. The platform now hosts over 300,000 video podcast shows, and the number of creators publishing video content monthly has grown by 50%. User engagement metrics reinforce this trend, with over 250 million Spotify users having streamed a video podcast and two-thirds of podcast listeners expressing a preference for video over audio.
YouTube’s emergence as a dominant force in podcast listening is equally striking. Edison Research’s survey data from the first three quarters of 2024 reveals that 30% of users prefer YouTube for podcast streaming, narrowly surpassing Spotify’s 29%. This shift highlights the platform’s success in attracting podcast audiences seeking a visual experience. The popularity of video podcasts is driven by the desire for a deeper connection with podcasters. Edison Research found that 84% of monthly podcast listeners consume podcasts with video, and 71% actively watch while listening. Nearly half of those actively watching cite the ability to better connect with podcasters and understand their nuances through visual cues like facial expressions and gestures. This preference for visual engagement has spurred both Spotify and YouTube to adapt their strategies.
Recognizing the growing importance of video, Spotify CEO David Ek has declared that “it’s becoming all about video.” To counter YouTube’s growing influence, Spotify is reportedly planning to financially incentivize podcasters whose video content achieves certain viewership thresholds and offer ad-free video podcast viewing to premium subscribers. YouTube’s established creator payment program further fuels the video podcasting boom, providing a lucrative avenue for podcasters to monetize their content. The 2024 US presidential election provided a compelling case study for the power of video podcasts. Several podcasters secured interviews with presidential candidates, generating significant viewership on YouTube. Joe Rogan’s interview with then-candidate Donald Trump, which included an endorsement, garnered a staggering 53 million views, becoming his second most-watched YouTube video. Rogan’s interviews with JD Vance and Elon Musk also accumulated millions of views, demonstrating the platform’s reach and the public’s appetite for politically charged content in a video podcast format. While Vice President Kamala Harris also engaged with video podcasters, her interviews generated comparatively fewer views, suggesting that audience engagement varies based on the specific podcast and guest.
The financial landscape of podcasting also experienced significant shifts in 2024, marked by lucrative deals between podcasters and streaming platforms. Joe Rogan renewed his multi-year deal with Spotify for a reported $250 million, though this agreement, unlike previous ones, does not mandate exclusivity, reflecting Spotify’s move away from restricting content to its platform. SiriusXM secured exclusive ad and distribution rights to Alex Cooper’s “Call Her Daddy” for a reported $100 million, highlighting the value of established, high-performing podcasts. Amazon’s Wondery invested heavily in the podcasting arena, securing a $100 million deal with the Kelce brothers for their podcast “New Heights” and acquiring Dax Shepherd’s “Armchair Expert” for $80 million. These substantial investments underscore the growing recognition of podcasting as a major entertainment medium and the competition among platforms to secure top talent.
Finally, Edison Research’s data on the top podcasts of 2024, based on listener data from the first three quarters, provides a snapshot of audience preferences across platforms. “The Joe Rogan Experience” maintained its position as the most listened-to podcast, followed by “Crime Junkie,” “The Daily,” “Call Her Daddy,” and “Dateline NBC.” The list also includes popular shows like “SmartLess,” “Stuff You Should Know,” “This American Life,” “This Past Weekend w/ Theo Von,” and “New Heights with Jason and Travis Kelce,” demonstrating the diversity of genres and formats that resonate with podcast audiences. This data, combined with the trends observed across platforms, paints a clear picture of the evolving podcasting landscape, one increasingly defined by the prominence of video and the significant financial investments driving its growth.
