When it comes to innovation, it happens most of the times in the technology field. In recent times, the podcast industry has grown a lot, and there are various reasons behind the success of this new tech industry. There are tons of podcasts platforms which are now available which are used by thousands of people. There was a time when people used to sit in front of their TV and watch TV shows daily. However, the time has changed and so is technology because nowadays people are more interested in listening to a podcast.
Big tech companies like Apple has also shown its interest in the podcast industry. Apple, which is a tech giant company, recently said that they are building an individual podcast platform for all apple users. A report shows that Podcast industry is growing at a faster rate, and it might earn more one billion of revenues in 2020. People didn’t know about Podcast until legendary entrepreneur Steve Jobs once introduced it in 2005. Steve Jobs had the vision of making smartphone and iPod industry more significant, and along with that, he gave us Podcast. This industry is growing from the last few years because content makers are now able to target the right type of audience.
Big companies who are trying to diversify their source of income are trying to move into this new tech industry. Online song streaming platform Spotify recently revealed that they are going to spend more than $500 million in acquiring new podcast platforms. Spotify is trying to use its members base and to do that they’re trying to add podcasts into their service list. The podcast industry is now officially becoming a billion dollars industry. Experts think it will further grow in upcoming years.