Podcasting executives are optimistic about the growth of the sector in 2024, despite setbacks such as layoffs and programming cuts at companies like Spotify. They are focusing on expanding globally, utilizing artificial intelligence for translation and transcription, and exploring new revenue streams.
iHeartMedia plans to leverage artificial intelligence for translating podcasts into multiple languages, targeting global expansion by partnering with local creators in countries such as Germany, Mexico, and Brazil.
Wondery and iHeartMedia expect advertising revenue to increase in 2024, driven by the growing demand from national brands and the sophistication of measurement and reporting in podcasts.
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