Spotify grows video podcasts and ‘podfluencers’

Spotify has seen a 39% year-on-year increase in average daily streams of video podcasts globally.

In its Global Podcast Trends report, which includes data from three studies covering Q4 2023 to 2024 so far, as well as first-party data, the streaming company reported 64% more video episodes and 78% more video shows (podcasts with at least one video episode) released on the platform in comparison to the previous year.

Globally, Gen Zs were 18% more likely to watch video podcasts, also known as vodcasts, compared with others who engaged in podcasts. Podcasts available as video versions on Spotify include What Now? With Trevor Noah and The Joe Rogan Experience.

Earlier this year, Spotify CEO Daniel Ek said users will see video content “in a bigger way” on the platform this year.

Furthermore, Spotify reported its podcast advertising revenue grew faster than its music advertising revenue over the past year.

Spotify makes bigger move into video, but user behaviour may hinder progress

UK vodcasts gaining momentum

Patrick Dolan, head of display and audio at the7stars, highlighted “the huge increase in video podcasts” as one of the “major shifts” revealed in the study.

Vodcasting was “finally gaining momentum in the UK” when it is “already thriving in the US”, he added, with exposure to video content increasing across all streaming platforms.

The rise in vodcast episodes demonstrated “a real appetite for this type of content” for Dolan and the “benefits are palpable” for advertisers with audio’s unique “in-ear” experience amplified by visual prompts and full-motion storytelling, transforming vodcasts into “a game-changer for immersion and memorability”.

Dolan said: “Overall, the report demonstrates the continued growth in the popularity of podcasts, whilst also confirming the success of the medium for delivering positive business results for advertisers.

“The report states 62% of respondents acted after hearing an advert during a podcast, which shows a huge action intent for the medium. Combining this action intent with visual engagement and growth of trust, we can only see the future bright for podcasting.”

Podfluencers

Another trend highlighted in the research was consumers’ preference for podcast hosts over social media influencers.

Nearly two-thirds (63%) of people surveyed said they “trust” their favourite podcast host more than their favourite influencer.

Close to half (48%) of Gen Zs and millennials are “more likely” to be interested in ads or products when promoted by their favourite podcasters, with 45% saying this was due to “the trusted relationship” with the hosts.

Meanwhile, there’s a notable rise of financial podcast influencers, or “finfluencers”, as total streams in this category rose 29% year on year across all age groups globally.

Dolan emphasised: “Trust continues to be the buzzword for podcasters, in direct contrast to many social influencers that continue to be challenged on their authenticity.”

What is the UK listening to?

According to Spotify’s study, the number of podcast shows streamed per person in the UK has increased by 8% year on year.

In Q1, the most popular podcast categories were comedy, sports, health & fitness, society & culture and true crime. The UK was the only country in those analysed that had sports among the top five.

The fastest-growing categories in the UK were religion & spirituality, sports, society & culture and news — up 98%, 74%, 65% and 60% respectively from Q1 2023 to Q1 2024.

More than half of podcast streams (55%) by users aged 18-24 were from shows originating in another country, with this figure rising to 62% for listeners aged 13-17.