The Latest News in Podcast Marketing & Monetization: July 2023 Key Updates
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IN A GIST
We've got a whirlwind of news that will shake up your podcasting game. From the latest tech updates to new high-profile podcasts, monetization strategies, and even some controversy, here’s everything you need to know to inform your podcast marketing and monetizing.
- Fragmented Android Landscape Tests Podcast Marketers
- Voltage FM Harnesses Substack’s Role in Podcasting
- Audacy and TuneIn Alliance Expands Monetization Scope for Podcasters
- Auddia's AI Breakthrough Poised to Transform Podcast Marketing
- Industry Analysis Exposes Illusions in Podcast Growth
- Veritonic Integrates YouTube, Set to Disrupt Podcast Marketing
- AdLarge Labs Program Opens New Revenue Streams for Podcasters
- Australia's Podcast Surge Opens Fresh Opportunities
- Acast Unveils Largest Self-Serve Marketplace for Podcast Influencers
- Google's Ad Placement Practices Under Fire
MAIN ARTICLE
Fragmented Android Landscape Tests Podcast Marketers
As podcasters, understanding your audience is pivotal. However, the Android podcast realm is proving a tough nut to crack due to its fragmented nature.
According to recent data, Android's podcast app landscape is highly fragmented, with listeners spread across multiple apps.
This fragmentation makes it harder to track and understand listener behavior, which could impact your marketing strategies.
The data, sourced from the Open Podcast Prefix Project, reveals that while Spotify is the clear leader in Android podcast apps, the rest of the market is significantly more fragmented than Apple's.
For example, Android's 10th favorite podcast app sees 2.42% of all downloads, while Apple's equivalent app only gets 0.6%. Recognize the necessity of spanning your podcast across diverse platforms to resonate with your Android audience.
Voltage FM Harnesses Substack’s Role in Podcasting
In a bold move to reshape the podcasting landscape, Voltage FM launched two high-profile podcasts on Substack – a platform traditionally associated with newsletters. The move, as reported by Voltage FM, aims to leverage Substack's strengths in audience engagement and monetization, two critical aspects for podcasters.
The takeaway? Be open to unconventional platforms for captivating your audience and monetizing your content.
Audacy and TuneIn Alliance Expands Monetization Scope for Podcasters
Audacy and live streaming leader TuneIn are teaming up to amplify Audacy's digital reach, extending its 250+ stations and comprehensive podcast library to a wealth of additional platforms and vehicles including Tesla, Rivian, Samsung, and Xbox.
The result? This expansion not only amplifies the reach of Audacy's premium live local music, news, and sports content, but also its award-winning collection of podcast titles. For podcasters, this means an increased audience reach and potential for higher engagement rates.
Moreover, this partnership unlocks new monetization opportunities. Audacy and TuneIn's advertising partners can leverage their collective scale, precision targeting, and analytics capabilities.
As J.D. Crowley, Chief Digital Officer and President of Podcast and Streaming at Audacy, puts it,
"We're delighted to expand the availability of our unique live sports, news, and personality-driven audio content to over 200 new TuneIn-supported platforms."
This demonstrates the vital role of digital distribution in optimizing podcast revenue.
Auddia's AI Breakthrough Poised to Transform Podcast Marketing
In an exhilarating announcement, AI forerunner, Auddia Inc. has announced a significant breakthrough in AI and Natural Language Processing (NLP) tech for podcasts.
As reported by Podnews, Auddia has ingeniously blended AI and NLP, forging an audio classification model to offer ad-free podcast listening. This novel approach is set to redefine podcast marketing, enabling creators to deliver a smoother, ad-free experience, potentially bolstering engagement and listener retention.
Furthermore, Auddia plans to incorporate this AI innovation into its faidr audio Superapp, an existing ad-free AM/FM solution, launched in early 2022 with a recently released 3.0 version.
Industry Analysis Exposes Illusions in Podcast Growth
Podcast growth has become a buzzword. But what if the growth we're seeing is more of an illusion than reality?
Audio Insurgent takes a hard look at the industry's growth metrics and raises some red flags. Podcast show counts might have went up 4X from 2019 to 2023, but hold that celebration – audience per show has halved and downloads dipped by a third.
This tells us that more isn't merrier in podcasting.
Sprouting shows like mushrooms isn't enough. Engaging content that strikes a chord with the audience is where the real growth lies.
And here's another curveball. Publishers are curbing new shows due to ad revenue fears, likely tied to the drop in downloads. This could potentially stifle innovation and limit the diversity of content available to listeners.
Veritonic Integrates YouTube, Set to Disrupt Podcast Marketing
Brace yourselves podcasters, Veritonic's integration with YouTube is more than a tech upgrade - it's shifting the paradigms of podcast marketing. Now, podcasters can accurately gauge the impact of traffic originating from YouTube, alongside traditional podcast and audio streams.
But this isn't your typical tech news. This is a game-changer. Why? Because an astounding 78% of podcast listeners on YouTube use its free version to actively consume podcasts.
Veritonic's Audio Attribution doesn’t just skim the surface; it offers valuable, in-depth insights at each stage of your marketing pipeline. It identifies the most impactful ad publishers and specific audio ads, empowering you to supercharge your ad performance and extract maximum value from every marketing penny.
AdLarge Labs Program Opens New Revenue Streams for Podcasters
In a pioneering move, AdLarge opens new income avenues for podcasters with their latest initiative - AdLarge Labs. This digital accelerator program reimagines podcast monetization, offering a robust toolkit designed to power marketing efforts, amplify podcast growth, and widen creator influence.
AdLarge Labs is not just about marketing; it's about revenue generation. The team works hands-on with podcast creators to develop custom strategies and content, collaborating with partners like FlightPath, PodRoll, Barometer, and YouTube. The objective? Heightening engagement with listeners, brands, and advertisers, consequently boosting revenue.
Matt Turck, AdLarge’s Head of Podcast Growth & Strategy, emphasized the untapped potential of the video marketplace for podcast creators.
The program is open to all creators and does not require an ad sales agreement with AdLarge.
Australia's Podcast Surge Opens Fresh Opportunities
Australia has emerged as a key player in the podcast arena, setting a fast pace in digital audio consumption. The Infinite Dial Australia report reveals four noteworthy trends:
- Surge in Online Radio: Weekly listening to online AM/FM/DAB+ radio skyrocketed by 80% year over year.
- Podcast Listening Growth: The number of monthly and weekly podcast consumers has reached unprecedented levels. To put it in perspective, 43% of Aussies aged 12 and above have tuned into a podcast in the last month, and 33% just in the previous week.
- Daily Dosage: A solid 10% of Australians aged 12 and above are making podcasts a part of their everyday routine.
- High Engagement Scores: Weekly podcast listeners in Australia are tuning into an average of five podcast episodes per week.
These trends signal a clear opportunity for podcasters. The Australian market is ripe for exploration, and its growing podcast popularity should be a key consideration.
Acast Unveils Largest Self-Serve Marketplace for Podcast Influencers
In a groundbreaking move, Acast, the world's largest independent podcast company, launched host-read sponsorships on its self-serve podcast advertising hub. This exciting expansion lets advertisers from around the globe arrange podcast sponsorship campaigns, delivered by the podcast hosts themselves, throughout the vast expanse of the Acast Marketplace via the self-service portal.
This move is a game-changer for podcasters looking to monetize their content. It opens up a world of opportunities for advertisers of all sizes to reach high-value podcast audiences in a way that our medium has become so famous for.
Fresh off the Acast press, a study reveals that a whopping 62% of listeners have reportedly made a purchase after hearing a host-read sponsorship, and an impressive 72% have found their way to an advertiser's website, post-listen.
By leveraging AI, the platform also enables advertisers to discover podcasts they may never have considered before, effectively reducing bias in media buying and enabling advertisers to connect with the most relevant audiences for their message and budget. This is a significant step forward in the podcast industry, offering a more efficient and accurate way to invest in podcasting.
Google's Ad Placement Practices Under Fire
In a recent revelation that has sent shockwaves through the digital advertising world, Google has been found to violate its own standards for video ad placements on third-party sites. According to a Wall Street Journal report, about 80% of Google's video ad placements fall short of the company’s proclaimed standards.
If you're leveraging Google Ads to drive revenue for your podcast, take a step back and reassess. The probe uncovers Google's inclination to push ads into diminutive, automatically played videos in inconspicuous corners of the page, often on platforms that don’t live up to Google's monetization guidelines. The fallout? A possible dip in engagement and lower conversion rates for ads.
The research calls into question the opaqueness of the digital ad market, where it's hard for brands to know if they're getting what they paid for. As the Association of National Advertisers reveals, a whopping 23% of the annual $88 billion invested in automated digital ad buying on the open web goes to waste. For podcasters, this serves as a wake-up call to stay alert and scrutinize the hows and wheres of ad placements.
Wrapping Up
There’s your ten essentials to kickstart July 2023. Staying informed about the latest news and trends in the podcasting industry is crucial for your podcast's success.
Whether it's understanding your audience, exploring new platforms, or maximizing your monetization opportunities, every piece of information counts.