The podcast market in the APAC region is experiencing remarkable growth and maturation, according to recent studies by Firstory, APAC’s leading podcast service. The first half of 2024 has seen a 164% year-on-year increase in the DAI market GMV. Even more impressively, the revenue from the paid membership business model has surged by 378% year-on-year, with over $500k in revenue shared with creators in just the first six months of the year.
Highlights in this article:
- Dynamic advertising insertion GMV have grown by 164% from 2023 to June 2024.
- Podcast donation and subscription earnings rose by 378% from June 2023 to June 2024.
- Podcast Ads campaigns have shared over 500k dollars with creators from 2024 H1.
- Are you looking into run your branding among APAC ? Try Firstory to get the all-in-one podcast advertising solution for your brand awareness, and promotion needs.
The Rise of Podcast Monetization in the Sino-sphere
In comparison to the mature podcasting DAI markets in the U.S., the APAC region, particularly the Sino-sphere, has only begun developing podcast monetization infrastructure since 2020. This development has been fueled by the introduction of several new podcast hosting services and DAI systems. As a result, the podcast creator economy’s flywheel began spinning two years ago, with active podcasters quickly reaching a total of 12,000.
Podcast Advertising: A New Marketing Channel
Podcasts are being increasingly recognized as an efficient marketing channel for building brand awareness and cultivating customer loyalty. The DAI market GMV has grown 1.5 times over the past year. Unlike traditional host-read ads, DAI offers seven times the exposure and three times the click-rates.
The Financial Impact on Podcasters
Paid memberships have emerged as a new revenue stream for podcasters. For top-ranking creators with over 500 subscribers, the average monthly revenue from memberships exceeds $10k. This demonstrates the substantial earning potential for podcasters in the APAC region.
Industry Insights from Firstory’s COO, Kirk Liu
Kirk Liu, the COO of Firstory, shared insights on the future of the podcast market: “According to our data, the DAI market in the Sino-sphere is expected to double by the end of 2024. In Q1 2024, the average podcast CPM rate for a 60-second pre-roll ad saw a respectable increase, reaching $12.”
He added, “As the first strategic hosting partner to integrate paid membership API with both Spotify and Apple Podcasts, we promise to provide podcasters with a smoother experience in managing their membership business.”
Looking Ahead: Ambitious Growth Projections
Firstory aims to continue its ambitious growth trajectory into the next year, with projections suggesting a potential 2 to 3x market growth. This outlook indicates a bright future for the APAC podcast market, with increasing opportunities for both creators and advertisers.
More: Review our 2022 H1 report