The Latest Trends in the World of Podcasts: July 2023 Key Updates
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IN A GIST
Welcome back to another round of 'Minute Memo', your weekly dose of podcasting news and trends, served up in bite-sized pieces.
This week, we've got a motley of industry updates that are sure to get your creative juices flowing and your strategic gears turning.
Here's a sneak peek of what's in store:
- Cohost's Report Reveals 20% Surge in Listenership
- AdsWizz’ Dynamic Ad Insertion Boosts Podcast Ad Revenue
- Bradley Cooper's Lea Pictures Collaborates with iHeartPodcasts
- Pocket Casts Make Podcasts Just A Wrist Away
- Futuri's SpotOn Transforms Commercial Production with AI
- Podcasting as Rising Underdog in the Digital Ad Market
- PodcastOne Adds 'Some More News' and 'Even More News'
- Blubrry Unveils Revolutionary Analytics Tool for Podcasters
- Seekr and Oxford Road Launch Civility Score for Podcasts
- YouTube Amplifies Podcast Reach with YT Music
Let’s jump in.
MAIN ARTICLE
Cohost's Report Reveals 20% Surge in Listenership
As a podcaster, you're part of an industry that's not just surviving, but thriving. According to Cohost's latest trends report, podcast listenership has seen a 20% uptick in 2023.
Chris Peterson, Cohost's CEO, states, "Podcasting is no longer a niche medium."
The data gets even more interesting: 75% of podcast listeners are under 45. If your content is aimed at a younger demographic, you're hitting the bullseye. The top-performing genres? Society & Culture, Business, and Comedy.
AdsWizz’ Dynamic Ad Insertion Boosts Podcast Ad Revenue
AdsWizz is shaking up the advertising landscape with its Dynamic Ad Insertion (DAI) technology.
Adrian Hospodar, Product Owner at SXM Media and AdsWizz, reveals the secret, "DAI lets brands deliver personalized ads to listeners based on data insights like their location, time of day, and even the weather."
The outcome? Ads that truly connect. The proof is in the pudding with DAI accounting for a whopping 84% of podcast ad revenue in the US in 2021.
Bradley Cooper's Lea Pictures Collaborates with iHeartPodcasts
In a surprising move, Bradley Cooper's Lea Pictures has entered into a collaboration with iHeartPodcasts. Their debut project? "The Good Stuff Podcast," a weekly series that dives into compelling tales of triumph and tenacity.
Bradley Cooper, the man behind the vision, says, "Our shows will feature real people telling real stories, and we knew iHeart was the perfect partner to reach as many people as possible."
Podcasters, this is your cue. Authentic narratives are the heart of listener engagement. With a heavyweight like Bradley Cooper stepping into the podcasting ring, the landscape is ripe for evolution.
Pocket Casts Make Podcasts Just A Wrist Away
Time to roll up your sleeves and tap into a new frontier. Pocket Casts has just unveiled a Wear OS app, a savvy move that brings your content directly to the wrists of your listeners.
Emmeline Berry, a voice from the Pocket Casts team, puts it simply, "We’ve made listening to podcasts more convenient than ever."
This isn't just an upgrade; it's a fresh avenue to engage your audience. The cherry on top? It's an exclusive perk for all Pocket Casts Plus subscribers.
Time to tailor your content for this wrist-ready audience.
Futuri's SpotOn Transforms Commercial Production with AI
In a bold move, Futuri introduces SpotOn, an AI-driven innovation that crafts fully produced commercials.
Futuri CEO Daniel Anstandig emphasizes, "With SpotOn, brands can save countless hours by streamlining the production process and speeding up the sales cycle."
This isn't just about saving time; it's about efficiency and focus. As a podcaster, this means you can concentrate on what you do best — creating compelling content, while SpotOn handles the commercial production.
It's not just about monetizing your show, it's about doing it smartly and efficiently. Let AI do the heavy lifting while you captivate your audience.
Podcasting as Rising Underdog in the Digital Ad Market
In the digital ad market, podcasts are quietly outpacing the overall growth by 11%, as reported by the International Advertising Bureau (IAB). Despite the impressive 26% YoY growth in 2022, bringing in a cool $1.8 billion, podcast ad revenue is still a small fish in the $84 billion search advertising sphere.
But don't let that fool you. According to Rephonic, a database of over 2.5 million podcasts, podcasts are one of the fastest-growing channels. Yet, their ad revenue and ARPU are still playing catch-up.
Becca Butcher, the author of the article, notes, "Podcast ad revenue continues to experience strong growth, outperforming other channels, including the broader digital audio landscape."
So, keep your eyes on the prize. The audio landscape is growing, and there's plenty of room at the top.
PodcastOne Adds 'Some More News' and 'Even More News'
In a strategic move, PodcastOne, a LiveOne subsidiary, has bagged the exclusive network distribution and advertising sales rights to 'Some More News' and its spinoff 'Even More News'. The shows, hosted by Cody Johnston and Katy Stoll, are set to add a dash of humor to the platform's content lineup.
Kit Gray, President of PodcastOne, expressed his excitement, stating, "Their engaged audiences pair well with our existing programming and as we enter into a never-ending cycle of election year news we’re looking forward to Cody’s and Katy’s comedic take on what promises to be an endless flood of attention-grabbing headlines."
This move underscores PodcastOne's commitment to diversifying its content, providing podcasters with a platform that caters to a wide range of audience preferences.
Blubrry Unveils Revolutionary Analytics Tool for Podcasters
In a move set to empower podcasters, Blubrry has unveiled its innovative Podcast Statistics PWA. This Progressive Web App (PWA) is a one-stop-shop for podcasters seeking to understand their show's performance. It offers a seamless user experience, in-depth performance data, and real-time listener survey results.
This tool is more than just a new gadget; it's a valuable asset for podcasters aiming to make informed decisions and elevate their show's success.
Seekr and Oxford Road Launch Civility Score for Podcasts
In a significant stride for podcast advertising, Seekr and Oxford Road have unveiled the pioneering Civility Score for podcasts. This innovative tool, powered by artificial intelligence, quantifies ad hominem attacks within podcasts, offering brands an unprecedented level of precision in evaluating brand suitability.
Pat Condo, CEO and Founder of Seekr Technologies, asserts that the Civility Score is poised to fortify brands against high-risk content. For podcasters, this development underscores the importance of maintaining respectful discourse, as it could directly impact advertising prospects.
In essence, the Civility Score is more than just a tool—it's a testament to the evolving landscape of podcast advertising, where respect and civility are becoming integral to brand integrity.
YouTube Amplifies Podcast Reach with YT Music
YouTube Music is extending its podcast support on a global scale. The platform's Home tab now features a dedicated "Podcasts" filter, serving up a curated feed across various categories.
But that's not all. The “Now Playing” screen has been optimized with 10-second rewind and 30-second forward options, along with adjustable playback speed and a sleep timer.
In this article, Abner reveals that "Offline playback and background play is available without a YouTube Premium subscription."
This development is a golden opportunity for podcasters. Why? It's simple. As YouTube Music broadens its podcast support, it's set to attract a larger user base.This translates into a fresh, expansive avenue to reach international audiences.
Wrapping Up
As we wrap up, the key takeaway is clear: the podcasting landscape is evolving at a breakneck speed, and it's ripe with opportunities. Whether it's leveraging dynamic ad insertion to maximize revenue, tapping into the power of AI for commercial production, or harnessing the reach of platforms like YouTube Music, the future of podcasting is here and it's exciting.
Remember, podcasters, it's not just about keeping up with the trends, it's about staying ahead of them. So, take these insights, apply them to your strategy, and continue to create, innovate, and captivate.