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🎙Podcast Metrics Revolution: Downloads Dethroned, Creators Crave Standardization
Podwires Team
September 24, 2024
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🎙️TODAY’S BRIEF
🔥Podcast Metrics Revolution: Downloads Dethroned, Creators Crave Standardization
🚨 Podcast Insight: BetterHelp Leads Podcast Advertising Boom, Spending Over $6.4 Million in August 2024
🌏 Podcast Elsewhere: Spotify is adding Moonshot to its Safety Advisory Council to combat online hate and extremism and strengthen platform safety and content moderation.
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🔥Podcast Metrics Revolution: Downloads Dethroned, Creators Crave Standardization
Image: Podcast Host
Now, in a surprising shift, according to a recent survey by Podcast Host of more than 150 independent podcast creators, traditional download metrics are no longer the go-to measure of podcast success.
This breakthrough insight was published in the latest blog post by Katie Paterson, sourced from an exhaustive study on podcast measurement preferences, marking a significant evolution in how content creators track their impact within the ever-growing audio landscape.
The Key points:
Downloads have fallen from the most favored method of measuring podcast success to 4th since 2022
Followers/subscribers now are the most popular measurement markers
Listening time is seen as the most reliable or helpful metric of all
Downloads are used to measure success by less than half of creators surveyed
Improved standardization of podcast measurements were specifically desired by 72% of those answering
Why it matters: This represents a continued maturation on behalf of podcast creators who seek ways to measure engagement in ever more meaningfully insightful ways.
As the industry continues to grow, creators want to dig deeper than simple download numbers into the behavior of their audience. This would likely shift how advertisers value and invest in podcast sponsorships, moving the industry toward more sophisticated, accurate signals of performance.
This could, in the end, be improving the strategies in content creation and further enhance the accuracy of podcast audience engagement analysis.
Our Analogy: Think of podcast metrics as a diet plan. Most people at first use weight as an indicator of success, but after a while, they realize that muscle, endurance, and health are better measures. Just as the holistic approach to health has a concern for many factors, podcasters also have adopted a more holistic view of their show's performance.
Our take: To podcasters, that means this shift is a double-edged sword: while it makes conversations with potential advertisers who still rely heavily on download numbers more cumbersome, it offers the opportunity to prove the true value of our content through more significant metrics.
We absolutely should lean into this shift in focusing on creating super engaging content that encourages longer listening times and loyal followership. We also encourage consistency of metrics across the industry by which to compare and value different shows across a variety of platforms. Indeed, the evolution in the podcast landscape fuels creativity not only in our content strategy but increasingly in the way we build and engage our audience.
🗞️ TL;DR - PODCAST NEWS
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From Grief to Community: How One Mother's Podcast is Empowering Solano County Moms. Maryam Trumpf, a mother from Vacaville, launches her new podcast "Solano Mums Building Community" to help mothers in Solano County, California, support and guide them in the direction of resources available in their locality.
Spotify Expands Safety Advisory Council with Moonshot to Enhance Platform Security. Spotify is adding Moonshot to its Safety Advisory Council to combat online hate and extremism and strengthen platform safety and content moderation.
Australia's Podcasting Market Set to Reach $4.12 Billion by 2031, Reports CoherentMI. A new report by CoherentMI projects that the Australian podcasting market is expected to grow from $2.98 billion in 2024 to $4.12 billion by 2031, driven by its growth caused by an increase in podcast adoption for infotainment purposes.
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📼 TRAILER MIXTAPE
New Podcast Show to watchout
"From Now On" is a new podcast that gives abuse survivors a platform to share their stories, shifting focus from perpetrators to the experiences of those who have endured and overcome trauma at the hands of high-profile figures.
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Tune in now to the brand new podcast show! Listen at Trailer MixTape for all the latest Podcast Show.
PODCAST INSIGHT
🚨BetterHelp Leads Podcast Advertising Boom, Spending Over $6.4 Million in August 2024
Image: Magellan AI
In a groundbreaking report by Magellan AI, the landscape of podcast advertising took a dramatic turn, with BetterHelp, a mental health platform, topping the chart this August 2024. Culled from among the top 3,000 podcasts in the U.S., this innovative data, analyzed by Magellan AI, isn't just about big players but emerging trends in podcast marketing strategies.
The Key points:
BetterHelp spent $6,458,200 on podcast advertising in August 2024.
Amazon and T-Mobile were second and third, with $5,751,500 and $5,103,200, respectively.
Comedy and sports were the top genres for podcast advertising.
Ro saw the biggest percentage spend increase at 463%.
New entrants like Roku and Yahoo! were big podcast ad investors.
Why it matters: This information furnishes critical insight into the rapidly maturing podcast advertising ecosystem. Such knowledge and leveraging will be important to drive home the potency of podcasts in reaching an engaged audience as more brands learn to appreciate them; this will enable marketers, podcasters, and advertisers to make informed decisions regarding their marketing strategies. The key investments by big technology companies and health-focused businesses underline the increasing relevance of audio content as a means of reaching consumers both directly and authentically.
Our Analogy: Think of podcast advertising as the busy farmer's market. Just as shoppers come to find fresh, locally sourced goods, listeners tune in in search of authentic, niche content. Advertisers are like the savvy produce vendors who set up shop where they know they are likely to find an audience interested and primed to engage. BetterHelp has bought the largest, most visible stall at the market, whereby they literally can reach the most "shoppers."
Our take: This is powerful data for us as podcast producers: the fact that such a wide variety of advertisers-from mental health services to automotive brands-reiterates how broad the appeal of podcast content is. It really doesn't seem to be a fringe medium anymore; in fact, it has turned into one of the mainstream manners of reaching out to a consumer.
As a matter of fact, the indication this trend carries forward is that investment in quality content, growth of an engaged audience base, and building healthy relationships with them could result in great advertising opportunities. But there has to be a thin line drawn between monetizing and preserving the sincerity of the bond with the listeners that is so valuable in this medium.
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🔆 FROM OUR COMMUNITY
How you measure the success of your podcast is a personal matter that depends largely on your goals. Katie Paterson of Podcast Host explains.
In this conversation, Michelle Altman and Hillary Frank discuss the process of creating original audiobooks, deal structures, and the opportunities presented by this exciting new medium.
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