All Blogs

Podcasting Latest Insights (Early July 2023): 10 Things You Need To Know

May 28, 2024 Deciphr AI
Blog cover

On this page

Back to top

IN A GIST

Welcome to this week's edition of the 'Minute Memo', your one-stop shop for all the latest podcasting news. We've got a jam-packed lineup of stories that'll give you the edge in the ever-evolving podcasting landscape.

  1. CBS teams up with Triton Digital in a power move for podcasting strategy
  2. Edison Research drills down to the core of online audio consumption
  3. Podcast listeners support AI use, report shows
  4. Podcast launches dip, but show activity increases
  5. Podcast ad rates take a slight dip
  6. Acast's Spanish listener survey reveals a booming market
  7. Podcast revenue set to hit $3.5B by 2026
  8. mowPod ushers in a new era of precision targeting in podcasting
  9. Spotify skews younger than other platforms
  10. Podcasting turns 20

MAIN ARTICLE

CBS Teams Up with Triton Digital in a Power Move for Podcasting Strategy

In a strategic move that could set a precedent for broadcasters, the Christian Broadcasting System (CBS) is joining forces with Triton Digital, a leading provider of audio and podcast solutions. This partnership is set to supercharge CBS's digital audio and podcast strategy, leveraging Triton's cutting-edge technology and expertise.

John Frawley, CBS's Director of Digital Strategy, expressed his confidence in the partnership, stating, "We are confident that Triton’s unparalleled technology, coupled with their knowledgeable and responsive team, will enable us to grow our digital audio and podcast strategy in meaningful ways."

As a podcaster, this development underscores the potential of strategic partnerships in enhancing your digital reach. It's a clear signal that the industry is evolving, and leveraging the right technology could be a significant factor in your podcast's growth.

Edison Research Drills Down to the Core of Online Audio Consumption

In a world where 62% of Americans are tuning into online audio on a weekly basis, and 57% are dialing in daily, it's clear that the audio revolution is well underway. This latest report from Edison Research is a message that must be heard loud and clear for podcasters everywhere. 

As Tom Webster, SVP at Edison Research, puts it, "The growth in online audio consumption is something that could not have been predicted." 

This isn't just a trend, it's a seismic shift in how people consume content. It's a golden opportunity to captivate this growing audience with your unique voice and engaging content. Don't just ride the wave, shape it.

Podcast Listeners Support AI Use, Report Shows

Podcasting is undergoing a seismic shift, and AI is at the helm of this transformation. According to this report, 85% of podcast listeners think it’s ethical for podcasters to use AI tools to create podcast content.

James Cridland, Editor of Podnews states, "AI is not just a tool for efficiency and automation, it's a tool for creativity."

AI is reshaping the podcasting landscape, offering a hand in everything from content creation to transcription, translation, and even voice cloning. 

Ready to harness the power of AI to grow your podcast?

Podcast Launches Dip, But Activity Increases

In the podcasting world, it's not always about being the newest voice in the room. According to RainNews, the number of fresh podcasts hitting the airwaves took a dip in May. But hold the mic! The total number of active shows actually increased. 

The report notes that…

"The podcasting industry is maturing, and with maturity comes a slowdown in the rate of new show launches." 

So, as a podcaster, it's time to shift gears. Double down on delivering quality content that resonates with your audience.

After all, standing out in this bustling market is about making an impact, not just making an appearance.

Podcast Ad Rates Take a Slight Dip

Ad rates took a slight 2% tumble in June. Specifically, the average CPM for a 60-second ad clocked in at $23.03.

Despite this minor setback, Dave Hanely, CRO of Libsyn's AdvertiseCast, remains optimistic. He states, "Podcasting has come a long way, evolving from traditional host read for direct response to a dynamic medium that holds immense potential for brands and advertisers." 

This indicates that even with the occasional dip, podcasting continues to be a promising platform for advertisers. As a podcaster, it's crucial to keep an eye on these trends and adapt your monetization strategies accordingly.

Acast's Spanish Listener Survey Reveals a Booming Market

Apparently, Spanish listeners are not just tolerating ads in their podcasts, they're actually valuing them.

A recent survey by Acast reveals a staggering 81% of Spanish podcast listeners have discovered new brands through podcast ads. Four out of five listeners are not just hearing the ads, they're acting on them.

But it's not just about the numbers. Megan Davies, MD, International at Acast, highlights the broader implications of this trend. 

"Spain's thriving podcast market brings lucrative advertising opportunities," she notes.

So, if you're a podcaster, it's time to tune into the Spanish market. This isn't just about expanding your audience, it's about tapping into a market that's receptive to ads and ready to engage with your content.

Podcast Revenue Set to Hit $3.5B by 2026

The podcast industry is on a trajectory to hit a whopping $3.5 billion in revenue by 2026. But to get there, it's not business as usual. 

Eli Dimitroulakos, Acast's Global Head of Ad Innovation, believes the key lies in a shift in buyer approach. She explains, "There has been a historical tendency towards buying podcasts in a way that is not as scalable, and with the growth of listenership, brands are going to lean more into scale." 

In simpler terms, as the podcast audience grows, advertisers will need to shift their strategies to reach a larger scale of listeners, rather than focusing on niche markets. This means podcasters should be prepared to cater to a broader audience to attract these evolving ad buyers.

It’s time to rethink your podcast strategy when it comes to ads. Adapting to attract more advertisers could be your ticket to tapping into this burgeoning revenue stream.

mowPod Ushers New Era of Precision Targeting in Podcasting

In a bold move, mowMedia has turbocharged its mowPod Boost Self-Serve platform with AI-powered ad copy and advanced targeting capabilities that include geo-location, age, gender, and household income.

Mike Wiston, CEO and Co-founder of mowMedia, emphasizes, "Our mission has always been about amplifying the voices of podcasters." 

This upgrade could be a significant boon for podcasters, offering them the potential for heightened engagement and expanded reach.

Spotify Skews Younger Than Other Platforms 

A recent study by DISQO unveils that Spotify is the go-to for younger listeners, while the 65+ crowd leans towards Google Podcasts and Apple Podcasts. This insight, derived from over 17,000 podcast listeners, is a nudge for podcasters to diversify their distribution strategy

The study further emphasizes the importance of understanding your audience's platform preferences. 

Carl Van Ostrand, DISQO's Head of Research, says, "Spotify's younger demographic is a clear indication of the platform's appeal to the next generation of podcast listeners," He adds, "As a podcaster, aligning your content with your audience's platform preference could be a game-changer in expanding your reach."

So, it's not just about where you're heard, but also about understanding who's listening and where they're tuning in. 

Podcasting Turns 20 

Two decades ago, podcasting was merely a concept, a fledgling idea in the vast expanse of media. Fast forward to today, it's a bustling platform with 4.1 million podcasts and has become a form of mainstream media for Americans, with 42% tuning in monthly.

Christopher Lydon, the pioneer of podcasting, once dreamed of it as a platform where "people could break the public silence." And break it they did. Despite the industry's rapid growth and commercialization, Lydon maintains there's room for everyone.

So, remember, your voice has a unique place in this vast soundscape. It's your distinctive perspective that keeps podcasting vibrant and diverse, 20 years since its inception and counting.

Wrapping Up

This week's news underscores the dynamic nature of the podcasting industry. From strategic partnerships to AI innovations, demographic insights, and revenue projections, it's clear that podcasting is not just surviving, but thriving. 

As we celebrate 20 years of podcasting, remember that your unique voice and perspective are what keep this industry vibrant and diverse. 

So, here's to you, the podcasters, who continue to push boundaries, challenge norms, and make waves in this exciting medium. Keep making noise!