• by Ray Schultz , Columnist, April 8, 2025

There are two questions holding back the growth of podcasts. One is how to define them. Another is how to measure them, judging by “What is a Podcast?”, a study by Oxford Road conducted by Edison Research.

“When those questions go unanswered, money stays on the sidelines,” the study states. “And we believe that’s exactly what’s happening today. The lack of shared definitions and attribution frameworks is acting as a billion-dollar bottleneck—not because advertisers don’t believe in podcasting but because they don’t have the infrastructure to scale it safely.”

Consumers have their own way of looking at the medium. They define podcasts as:

• Recordings of people discussing any topic on YouTube that are also available as audio-only shows elsewhere (Spotify, Apple Podcasts, etc.) — 72% 
• A show created only as audio and available on-demand — 60% 
• Videos of people discussing any topic that are only available on YouTube — 52% 
• Recordings of radio shows that have previously aired — 39% 
• How-to/do-it-yourself videos on YouTube — 27% 
• None — 11% 

Of course, this depends on whether the person has ever experienced a podcast. Among those who haven’t, only 52% define podcasts as recordings of people discussing any topic on YouTube that are also available as audio shows elsewhere, versus 81% of those who have.

And 46% of the non-listeners see podcasts as audio only, compared to 66% of those who have heard them. 

The uncertainty surrounding podcast attribution may be keeping some advertisers away. Ad revenue decelerated from 2022 to 2023. 

“According to IAB’s most recent U.S. Podcast Advertising Revenue Study, podcast advertising revenue reached $1.9 billion in 2023, but growth slowed—from 26% year-over-year in 2022 to 8% in 2023,” the study notes. 

Much of the deceleration can be attributed to buyer hesitation, it adds.

“Marketers are under pressure to justify every dollar, and if they can’t compare podcast results to other digital channels, or even from one podcast platform to another, they’ll redirect budgets elsewhere.”

Edison Research surveyed 4,000 people.