Owl & Co. report: the podcast industry generated $9.2B in sales globally in 2025, up 23% YoY, with 73% of the growth in the US coming from video-related revenue
Context & Ripple Effects
Earlier coverage tracked US podcast advertising from $479.1M in 2018 to $1.45B in 2021, alongside forecasts of continued expansion. More recent coverage identified video podcasts as a route to larger audiences and additional ad inventory, with YouTube leading US podcast consumption.
Owl & Co.’s figures extend that arc beyond audio advertising: global podcast sales grew 23% in 2025, and video-related revenue accounted for most US growth. That makes video monetization central to the sector’s current expansion rather than a peripheral format experiment.
First-order effects
- Podcast publishers and creators with usable video formats gain a more immediate revenue lever, while audio-only businesses face a narrower share of the growth pool.
- Platforms and ad-sales teams can sell podcast inventory across video placements as well as audio, aligning their offerings more closely with broader digital-video budgets.
Second-order effects
- Podcast networks and independent producers are pushed to invest in filming, editing, distribution, and rights management to remain competitive for audience and advertising demand.
- YouTube’s established position in US podcast consumption gives it added leverage as publishers seek video reach, while other distribution platforms must make their own video and monetization tools more compelling.
Third-order effects
- If video continues to drive most incremental podcast revenue, the industry may increasingly be organized around screen-based, multi-format shows rather than audio-first distribution.
- The distinction between podcast advertising and digital-video advertising could become less commercially meaningful, making podcast growth more dependent on competition for video audiences and ad budgets.
The trend: Podcasting is evolving from an audio-advertising category into a video-led, cross-format media business where growth increasingly follows visual distribution and monetization.