DWNLOAD REPORT: Q3 2024

Hello and welcome to The DWNLOAD Report: The State of the Podcast Industry Q3 2024.

What a quarter it’s been! For those of you following along, you’ll know that 2024 is shaping up to be a banner year for podcasting. While everyone else was busy pronouncing “peak podcasting” a few years ago, DWNLOAD Media has been bullish about the sustained value of audio, and Q3 only strengthens our thesis: podcasting is the most undervalued asset in media. Here’s why the big players—and soon, maybe you—are placing their bets on this industry.

A quick note: I have quarterly recaps for the major podcast platforms below. However, Spotify doesn’t report until next week. While I was planning on waiting, I think the buzz around podcasting is too hot not to dive in now, especially since Spotify doesn’t break out specific podcast revenue numbers. That said, I will post an update on LinkedIn after their earnings call, but looking into my crystal ball, I expect to hear Daniel Ek say, “Podcast advertising revenue continues to be a strong growth area” or “Podcast advertising revenue growth continues to outperform, etc.” If we hear anything extremely newsworthy, I will share a quick update via email.

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Also, I've heard from some readers who’d like to see more frequent updates and expanded earnings coverage (which now includes Acast & Audioboom). So, I’d love to get your input: Would you prefer more regular insights and commentary, or do you like the current format as a quarterly deep dive? Let me know—I’m all ears!

Alright, let’s get into it:

Political Spotlight: Podcasts Are Now the “It” Medium for Campaigns

I didn’t want to write about the election, but we cannot overstate how 2024 truly was the “podcast election.” Trump’s three-hour appearance on Joe Rogan’s podcast generated nearly 50 million views on YouTube alone—compared to his more traditional media appearances, it’s no contest… and this doesn’t count his millions of listeners on Spotify, Apple Podcasts, etc. This isn’t just about numbers; it’s about impact. On podcasts, candidates get hours of uninterrupted airtime, reaching highly engaged, targeted audiences. Traditional media can’t match this depth or precision.

And Rogan isn’t the only one leading the charge. Alex Cooper’s Call Her Daddy interview with Kamala Harris also generated a ton of buzz, outperforming other high-profile interviews like Howard Stern’s and Charlamagne tha God’s on Google Trends.