Are podcasts here to stay?!
If you came here for a direct answer. We’re not going to ‘clickbait’ you. The answer is YES…
But, here’s why we think they’re here to stick around. And if you should take your brand to a spoken word format.
How we consume...
Even before COVID-19. Podcasts were experiencing a break out year. Both in the form of listeners and podcast creators. To put simply, there is now plenty of demand.
But, Podcasts haven’t always been successful. Remember the early 2000s when you could download them onto your ipod or mp3 player?
Since 2005, there has been more than 700,000 podcasts. With over 30 million episodes of content – most of them free. Incredibly, around a third of those episodes have been created only since 2018!
But why now?
This has largely come from our media consumption habits. As the world has gotten busier – the way we consume content and gather information (true or false) has become rapid. No longer can people be bothered to read blogs (like this one), articles or even newspapers. People consume (whether they’re aware of it or not) their information in forms that are quick, captivating and easily accessible such as through memes, GIFs, photos and videos. It’s now even harder to judge what’s true vs what’s not. Despite literally having a computer in your pocket…
Until recently. The BIG companies such as Spotify have found it hard to judge whether podcasts are here to stay or if it’s just a ‘fad’. Bare in mind that the average podcast is 43minutes long. There is often no real engaging movements or any stand out visuals like CGI that you’ll often find in tv programmes or films.
But, that’s why it works. Podcasts give listeners the ability to listen to topics without having to put the time into reading or watching. In less than an hour per day, listeners can gain a new understanding of their industry or interests and become ‘experts’.
Spotify...
Thanks to our new consumption habits, a growing listener base and more content being created. Companies such as Spotify are finally starting to take notice.
In 2019, Spotify spent $500 million on podcast acquisitions. Such as acquiring Gimlet and tech platform, Anchor – which helps podcasters to produce their own shows. By increasing their podcast catalogue (like ‘The Joe Rogan Experience’), they’re increasing their users, while also enhancing the overall time we spend on the platform (and owning the content in some cases!).
Spotify aren’t looking to slow down their acquisitions either and are now looking to acquire ‘Megaphone’ for another $235 million. Having only just entered the podcasting world, they’re clearly looking to buy their way to dominance.
Should your brand start making Podcasts?
We think so. It’s something we’re considering ourselves. Even if it’s something as simple as an audio blog. This audio trend doesn’t seem to be slowing down and will continue to grow.
Let’s say you run a fitness brand and you’re already making videos, livestreams and giving out content to those wanting to get fit. Why not consider creating a podcast that discusses fitness trends and tips with experts?
Even if your business is something a little more ‘professional’ such as a law or accountancy firm. Why not consider doing something similar.
The demand is there. After all, it’s just more exposure for yourself and your brand. As the saying goes, all content is good content right?
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