The growth of the podcast industry underscores a key idea of Chris Anderson’s 2006 book, The Long Tail, which argued that the internet provides an opportunity for every niche. Indeed there are now more than 4 million available podcast shows covering varied interests like cooking, history, self-help, sports, technology and politics. Many popular categories like investing are crowded with several dozen options. However, according Activate Media consulting, the top 25 shows account for nearly half of all podcast audience time. Given that the majority of podcasts are supported by advertising, niche shows with small audiences often find the business model of the industry is unsustainable.
Source: Activate Media, July 2025