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- 🎙2024 Media Trends Reveal New Opportunities for Podcast Growth and Innovation
🎙2024 Media Trends Reveal New Opportunities for Podcast Growth and Innovation
Podwires Team
November 20, 2024
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🎙️TODAY’S BRIEF
🔥 Amazon Dominates Podcast Advertising with $8.1M Monthly Spend: What It Means for Content Creators
🚨 Podcast Insight: 2024 Media Trends Reveal New Opportunities for Podcast Growth and Innovation
🌏 Podcast Elsewhere: Amazon Music Unlimited Adds Free Monthly Audible Book to Subscription in Major Service Expansion
🏆 PodBusiness : Crystal Kung Minkoff and Cynthia Bailey Launch New Podcast 'Humble Brag' with Libsyn Advertising Partnership
🛠️ 3 New AI Podcast Toolbox to boost your productivity
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⬇️Listen : A comprehensive summary of the latest developments in podcasting, based on insights from the Podwires newsletter. Powered by AI.
MAGELLAN AI
🔥Amazon Dominates Podcast Advertising with $8.1M Monthly Spend: What It Means for Content Creators
Image: Magellan
In October, Amazon increased investment in podcast advertising by 14% to $8.1 million compared with September.
BetterHelp, even if this means losing its crown, has invested about close to $8 million in podcast ads. Magellan AI's ranking, which is done on a monthly basis based on ad data from the top 3,000 U.S. podcasts on Apple Podcasts, reflects a very different landscape in podcast advertising in October. The established brands, such as Amazon and BetterHelp, have had enormous increases in spending, while other big players, like Robinhood, have been noted.
The Key Points:
Amazon holds its top podcast advertiser position with $8.1 million spent (14% increase)
BetterHelp still holds second position with $7.9 million spent, a 12% increase
T-Mobile took third place with $5.9 million in podcast ad spending
Total spend among top 15 advertisers shrinks to $54.23 million from $57.72 million
Robinhood was a big new entrant, growing spending from less than $100,000 to $1.1 million
The Highlights:
Major retailers running holiday season increases for spending (Dell, TJX, Uncommon Goods)
Six of the top 15 brands, including [List Brand Names], cut their ad levels.
Meta ran podcast ads promoting its Instagram Teen Accounts.
The "movers and shakers" collectively spent $6.97 million in October
Why it Matters: This is like a checkup for the podcasting industry, just like going to the doctor for a routine checkup. When huge companies such as Amazon and BetterHelp are investing millions in podcast ads, that is a signal to smaller businesses and future advertisers that podcasting is a serious marketing channel. To listeners, it usually means a better experience with more creators who have more resources to create quality shows.
The Big Picture: This trend is reordering the podcast industry in various ways. To podcasters themselves, this means expanded revenue streams and financial stability. Producers of podcasts can now conceptualize projects that are long-term knowing very well there is good advertising backing. To the industry at large, it shows the wide-ranging industries from retail and mental health to telecommunication and finance that are driving this transformation of podcasting as a mainstream advertising powerhouse. The growth in podcast advertising in the holiday season shows the increasing importance of podcasts in major brands' seasonal marketing.
🗞️ TL;DR - PODCAST NEWS
2025 Ambies Awards Deadline Approaches: Last Call for Podcast Submissions Including New Spanish Language Category. The Ambies—the Oscars of podcasts—are taking applications until November 22 for their 2025 awards show, which will include a new category for Spanish-language podcasts and provide funding to independent producers from marginalised groups.
Amazon Music Unlimited Adds Free Monthly Audible Book to Subscription in Major Service Expansion. Amazon Music Unlimited subscribers in the US, UK, and Canada will now be able to listen to one free audiobook per month from Audible's massive library with their music and podcast benefits for the very same price.
Podtrac Expands Global Podcast Rankings with Five New Countries in October 2024 Update. The good news is that Podtrac has extended its podcast tracking service to five more countries (for a total of 35), making it easier to see which podcasts are most popular in different parts of the world.
Spotify Unveils Largest Podcast Platform Update Ever with New Creator Tools and Premium Video Features. Spotify is rebranding its podcast platform to "Spotify for Creators" and adding new tools for audio and video creators, including better monetization, analytics, and discovery. Video podcast consumption is growing rapidly.
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Small Teams, Big Impact: Why Independent Podcasters Are Positioned to Win in 2024
Image: Telly Awards
The Telly Awards' 2024 trend report showcases a massive shift in media creation, particularly for video content.
For instance, 94% of creators now consider social media as the most important means of connecting with their audiences; meanwhile, 70% create content in small teams with 50 or fewer people. Led by Amanda Needham, the report dives deep into brand content evolution, social impact, trends in the creator economy, and technological innovations within the media landscape.
The Key Points:
78% of creators believe community and fandoms is the future of content creation and engagement
73% of organizations now place values like sustainability and women-led initiatives at the forefront.
70% of creators producing series content identify social media platforms as a primary area of focus.
67% of creators already use artificial intelligence tools as part of the production workflow.
94% of content creators find social media integral to engaging with their audiences.
Why It Matters: This report epitomizes how content creation is getting intimate, community-oriented, and tech-savvy. For any content creator-video or audio-the message is loud and clear: success today depends on establishing real relationships with your audience, embracing new technologies such as AI, and being authentic in approach to storytelling.
The Big Picture: This is a transformation in media creation that really opens up major opportunities for podcasters. Podcasters can benefit from the shift to series-oriented content and rising use of AI for enhanced productivity in production. The report's findings show podcasters can scale this due to 70% of content creation being driven by small teams of less than 50 people, thus competing effectively against more established media organizations by reaching out to smaller, targeted audiences and standing out by putting emphasis on authentic storytelling.
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EDISON RESEARCH
🚨Pierre Bouvard Reveals: Hispanic Youth Lead Historic Shift in Podcast Consumption 2024
Image: Cumulus Media
Podcasts now rule digital audio listening for young Hispanic listeners for the first time ever. According to an analysis by Pierre Bouvard of Edison Research's "Share of Ear" study, podcast listening has exploded among 18-34 Hispanic audiences, with podcasts now grasping an impressive 48% share of audio time.
This is a robust study surveying 4,000 Americans annually to capture information about Americans' audio consumption habits across all platforms and demographics, but particularly focused on ad-supported audio platforms.
The Key points:
According to Bouvard's analysis, podcasts capture 19% of overall ad-supported audio time with an astonishingly high 33% share among 18-34-year-olds. Pierre Bouvard's findings highlight the exceptionally strong podcast engagement by Hispanic listeners at 29% overall.
Bouvard's research shows that among young Hispanic listeners, aged 18-34, podcasts are preferred to AM/FM radio at a rate of 48% to 35% for radio
Their analysis suggests streaming services compete with personal music collections, not with radio.
Bouvard says smart speakers have a major presence of podcasts as well with 20% of audio listening supported by ad
Why it Matters: Pierre Bouvard's analysis reveals a sea change in audio consumption habits and a fundamental transformation in the way different audiences-especially young Hispanic listeners-are consuming digital content. How he interpreted the data: This is an unparalleled opportunity for both advertisers and content creators to reach audiences that weren't reached previously with targeted, engaging audio content.
Big Picture: Bouvard's research uncovers enormous opportunities for the podcast industry. Podcasters can confidently target younger Hispanic audiences, knowing they're the preferred type of audio content. His findings indicate that producers should develop more culturally relevant content, while the industry uses these statistics to attract bigger advertising budgets. A demographic shift, as identified by Bouvard, may ultimately signal the emergence of more diverse voices within podcasting and the development of innovative content formats tailored to these growing audience segments.
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📢 PODBUSINESS
⏭️ Libsyn Expands Envy Media Exclusive Ad Partnership - “Humble Brag with Crystal and Cynthia” Libsyn, a major podcast platform, has secured exclusive advertising rights for a new podcast called "Humble Brag" hosted by Real Housewives stars Crystal Kung Minkoff and Cynthia Bailey, which will air weekly on Mondays as part of Nick Viall's Envy Media network.
⏭️ NumberEight Partners with Barometer to Empower Data-Driven Podcast Advertising Two tech companies are collaborating to target podcast ads using artificial intelligence instead of personal data, making them more effective and privacy-friendly.
⏭️ Triton Digital and OMS launch Podcast Metrics Demos+ in Netherlands Triton Digital's new Dutch service provides over 100 data points on podcast listeners' demographics and behaviours to help podcasters and advertisers better understand and reach their audiences.
⏭️ Global Podcasting Phenomenon Casefile Inks Exclusive Ad Sales, Hosting and Distribution Deal with Acast Casefile, a prominent true crime podcast with over 800 million listens, is moving its hosting and advertising to Acast, bringing its massive global audience to the platform.
🎧 FROM THE COMMUNITY
⏭️ Buzzsprout Launches New Website Builder: Easy Website Creation for Podcast Creators. A new website builder from Buzzsprout, which is free with paid options, enables podcasters to construct polished websites with features like host bios and episode search without the need for technical expertise.
⏭️ Big Brother Stars Henry and Jordan Launch 'Club Sandwich' Podcast: Reality TV's Favorite Couple Takes On Food and Love. Two well-known contestants who fell in love on Big Brother 2023 are launching a new podcast that will combine stories about their unlikely romance with their shared love of sandwiches, relationships, and their diverse backgrounds.
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