Objective

To conduct in-depth research into the podcasting industry to help inform a US private equity firm’s decision on whether or not to make an investment.

Challenges

• The client wanted a comprehensive understanding of the historical performance, expected growth and key drivers of this new and fast-changing industry
  
• The client's questions were evolving, and a key requirement was that the research provider should be able to absorb changes in scope
  
• The project had to be executed within stringent timelines
  

CRISIL's Solution

• CRISIL's experienced team connected with the client to convert key questions into research objectives
  
• CRISIL leveraged the knowledge of in-house experts covering the media space to capture key insights related to the podcasting market
  
• The team captured and analyzed the data thoroughly to provide the following key insights:
  
  • Growth of podcasting (familiarity, users, content, subscription revenue, advertisement revenue, etc.);
    
  • Comparison of time spent on listening to podcasts with other audio sources (radio, owned music, streaming audio, TV music channels, etc.) to highlight the shift towards podcasting;
    
  • Trend of podcasting growth compared with the growth in connected cars and smart speakers;
    
  • Key players operating in the market, various initiatives by the players, competition intensity, etc.;
    
  • Factors impacting consumer behaviour – the shift from the free to the freemium model.
    
• CRISIL conducted a comparison of podcasting advertisement revenue, active users, etc. with other mediums (newspapers, magazines, TV, radio, etc.) to highlight the growth potential of podcasting publishers
  

Client Impact

• Research enhanced with CRISIL’s in-house sector expertise
  
• Quick delivery of high-quality research
  
• Client ultimately invested in the target company
  

Questions

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