Rental Podcast Studios in India are gaining ground, but can buzz become big business?

New Delhi: The audio economy has taken a healthy and robust shape in the Indian content space. And podcasts are the flagship IPs that are driving this economy. With myriad creators, brands, and CXOs charging hard at this long-form content, a new layer of the audio economy is taking shape. 

And this new layer is Podcast studios - a boutique, customisable, plug-and-play, pay-per-use studio space that fosters podcast production. These spaces are promising creators, brands, CXOs, and even agencies a professional-grade, brick-and-mortar place to record their content without needing to own the equipment. 

The emerging model is aligned with the steady rise of creators as well as listeners over the last few years. The podcast studio-as-a-service model basically works like a co-working space but for audio. 

The buoyancy factor

Making sense of the demand for these professional podcast studios, Neena Dasgupta, Founder & CEO, The Salt Inc., said, “The demand for professional podcast spaces is rising and it will continue to grow. While the creator economy is maturing steadily, the bigger and more immediate demand is coming from brands that recognise the power of podcasts as a space for deeper storytelling, not just surface-level communication.” 

This is a very important condition for this layer of the audio economy to scale and sustain. Elaborating on it, Dasgupta noted that a large part of the sustainability in the sector will come from brand-led productions rather than individual creators. 

“Creators will contribute to the growth but brands looking to create thoughtful, conversation-led content will likely drive the bulk of the business,” she said. 

While Dasgupta highlighted the importance of brands, Amit Doshi, Head, IVM Podcasts, sees the add-on services as one of the main factors keeping the business buoyant. What Doshi hinted at is the myriad services that the podcast studios may provide, apart from the real estate aspect. This includes pre- and post-production activities. 

“If you ask me, I would say the competitive edge lies in the add-on services. Real estate, by itself, isn't particularly competitive or a unique differentiator. So, it's really the additional services that can make all the difference,” Doshi chimed in. 

Aditya Kuber, Co-founder & CEO, Ideabrew Studios, brings out a nuanced perspective. Speaking on the subject matter, he said, “There is certainly a demand for unique studio spaces, but it’s equally important to focus on cost and the actual value a creator derives from the space. The creator economy is open to such offerings, provided there’s ample flexibility in the types of spaces available.” He added that larger cities like Mumbai and Delhi have both the supply and the demand to support the business model. The situation is a bit different in smaller towns. 

Kuber offered an interesting observation. While this novel business is gaining traction in the metro cities, there is less scope in the tier-II and tier-III cities of the country.

The machine and the mechanics

The only way to zoom in on the subject is to go inside the studios. Offering a tour of the business and its revenue model, Rishav Rastogi, Founder and Director of Cellar Door Studio, provided a spectacle into how these spaces function. 

Cellar Door Studio has its footprint in Delhi and Gurgaon. The main focus for Rastogi was initially on commercial studios, which provided the ingredients for commercial shoots, web series, and filmmaking. 

Rastogi noticed a trend brewing in which brands were increasingly being pulled towards podcasts. “Our spaces are primarily rented out for full podcast recordings. However, we’ve recently seen brands approaching us for shorter formats as well, specifically to produce snippets that are later used as commercials,” Rastogi stated. 

Speaking on the demand part, Rastogi told BuzzInContent.com that the demand is rising steadily. “It has been, to be frank, better than I expected. Last month, we had 27 bookings in one month. A lot of CEOs and CXOs are living in Gurgaon, who are also behind the uptick in demand for our studios,” he said. 

Cellar Door Studios also offers production prowess for its clients. In fact, more than 80% of their bookings include production. They charge Rs 8000 plus GST for an hour-long shoot. On weekends, this hourly rate climbs by Rs 1000. If a client needs editing services, this rate goes up to Rs 12000 per hour. Cellar Door Studios is probably one of the most expensive studios there is in the Delhi and Gurgaon regions, as claimed by Rastogi.

The margins are robust. According to Rastogi, “If you are smart about designing your studio and invest in the right areas, the margins are extremely healthy.” He estimated the margins in the podcast studio space in cities like Gurgaon and Delhi to be around 250-300%. 

But these margins are only possible if you put a significant upfront investment. The more the capital investment in the business, the better the margins. According to Sarthak Varshney, Founder, The BOSS Hub, the margins for a low to mid-range podcast studio are somewhere between 30% to 60%, on good days.  

Early bird and the price war

Early bird advantage also plays a big role here, since the competition is growing as we write this. Varshney pointed out how a lot of studios have emerged lately and have kickstarted a price war amongst themselves. Varshney shared that the studios have started undercutting prices, leading to the market losing value. 

The BOSS Hub’s USP is its customisability. With moving walls, multiple furniture options, creators can have the set-up according to their content slate. “Even though we provide 360-degree solutions, our main offering is around podcasts,” Varshney said. 

Beyond the hourly rate of shooting a podcast, the main revenue generation happens from editing and add-on services provided by The BOSS Hub. Speaking on the demand, Varshney offered a very candid view. He said, “Honestly, the demand today has gone down because many creators have either invested in their own equipment or found partners to collaborate with.” 

But brands are bringing in some momentum to the business. Brands are increasingly trying out this format, Varshney said. 

Charting out a brand’s journey from their studio’s perspective, Varshney said, “Even though most of our bookings come from creators due to cost-effectiveness, a growing number of brands are also approaching us for similar needs.” 

He noted that many brands are adopting a ‘carrot and stick’ approach. 

Throwing light on it, Varshney said, “They first test the waters to see whether podcasts work for them, whether the format suits their brand, and if there’s a measurable ROI. Since they’re in the trial phase, they don’t want to make large investments upfront. That’s where our model fits in well. They try out our studio on a membership basis, which keeps costs low. If it works, they return and continue booking with us.” 

Tier-1 vs Tier-2

Varshney drew a clear distinction between Tier-1 and Tier-2 cities. “If we treat a podcast like a product and map it onto the product adoption curve, I’d say Tier 1 cities are already in the ‘late majority’ phase. Podcasts have gone mainstream here. Every brand either already has one, has tried and paused, or knows that there’s value in starting one. The awareness and experimentation phase is largely over,” he said. 

However, in Tier 2 and Tier 3 cities, the space is somewhere between the early and late majority stages. 

“Everything moves slightly slower in these markets, but we are now witnessing a rise in new creators emerging from these regions. That said, Tier 1 cities are already saturated. There’s stiff competition, pricing wars, and high real estate costs, leaving limited room for further growth in standalone studio services. In Tier 2 and 3 cities, while real estate is cheaper, the creators’ ticket size is lower, which pushes the breakeven point further out.” 

Varshney suggested that setting up a pure-play studio in multiple cities is not a financially viable model, unless it is backed by strong brand value and sustainable add-on services. “The only way to make such studios work and keep them profitable is through high volumes of content production,” Varshney stated. 

Experiment or ecosystem?

In a market where podcast monetisation is still stunted, it is only logical to question whether the podcast studio business is a one-off experiment or has the potential to become a full-fledged ecosystem. 

The answer is layered. 

According to Dasgupta, “The sustainability of the model lies in offering end-to-end support from production to narrative development to distribution that helps both brands and creators bring their ideas to life. Over time, as more brands discover the power of this medium, podcast studios will become less of a support function and more of a strategic partner.”  

Doshi from IVM Podcasts equated the podcast studio space with the podcast business at large and said, “If the industry continues to rely solely on individuals who are passionate enough to fund their own podcasts, then we’re talking about a very limited pool of people. That’s not a sustainable path for podcasting as an industry.

For real, long-term growth, we need more brands actively participating, more advertising flowing into the space, and greater success across different levels of podcasts, not just the biggest, most popular ones. 

That lack of depth in monetisation is a risk not just for podcasting at large, but for podcast studios and all ancillary businesses built around the ecosystem. Their survival is tied to the overall health and viability of the podcast industry.”

Kuber believes that unless these studios pivot towards producers of content, they will keep surviving on the rent that they get for an hourly or slightly longer term offering, which is not as sustainable. 

“Creators today are increasingly seeking unique visual identities, which means they want access to diverse setups and backdrops. As a result, investing in a variety of looks and studio formats becomes essential. This also means creators are unlikely to stay loyal to a single physical studio, unless it continuously evolves to match their creative needs,” said Kuber.

Varshney called for more discipline among creators. “Structure your content, have a flow, invest in post-production. Don’t treat podcasting like a weekend hobby.”

Rastogi summed up, saying that the future will be collaborative. “Studios will co-own IPs, manage talent, and even act as podcast labels. The ecosystem is just warming up.”

The promise is real. Creators want consistency, brands want polish, and listeners want depth. But desire alone won’t sustain a brick-and-mortar business in a largely intangible digital economy. 

As multiple voices in the sector point out, it’s the end-to-end service layer, strategic brand partnerships, and a flexible, cost-conscious approach that will determine whether these studios become cornerstone institutions or just background noise.

In a country where content formats come and go like trends, and monetisation is always two steps behind innovation, podcast studios face a test of resilience. Their survival and success will hinge on whether they can pivot from just renting out rooms to owning a piece of India’s next audio revolution. The mics are plugged in. Now, the business model has to stay on air.