It’s Friday . This Monday, Podcast Movement 2024 comes to town. If you won't be attending in person, you can still register virtually and then get on-demand access to all the keynotes, breakouts, and panels.

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Today’s issue takes 11 minutes to read.

Let’s dive in on today’s newsletter. - Miko

🎙️TODAY’S BRIEF

• 🔥Podcast 360 Season 2: Exploring the Craft of Podcasting

• 🚨 Podcast Insight: Podcast Revenue Surge Fuels Cineverse Corp.'s Q1 Success

• 🎧  The Impact of Increased Ad Loads on Podcast Advertising Effectiveness

• 🌏 Podcast Elsewhere: A Peterborough-based start-up, Klaxon AI, has won £50,000 to develop a computer-generated podcast ad generator targeting small businesses.

⬇️Listen : This podcast interviews top performers and deconstructs them to find tools, tactics, and tricks to help you become a successful podcast producer.

📈 MARKETS

As of 900 PM ET( Friday ) . Data is provided by Yahoo Market

🌟 Market Tidbits :Michael Wolf, Founder and CEO of Activate Consulting, joins Asking for a Trend to discuss how media advertising has changed from linear to streaming.

PODCAST 360
🔥Podcast 360 Season 2: Exploring the Craft of Podcasting

Today, The Podcast Academy and DCP Entertainment announced Season 2 of their joint venture podcast series, Podcast 360, which is set to launch on August 20. 

The Details :

• This season, Podcast 360 delves into the heart of podcasting by focusing on the true essence of the medium: the hosts.

• These familiar voices share their unique journeys in the podcasting industry and discuss the craft of creating and promoting their shows. Continuing from last year's format, each episode starts with a guest who then becomes the host in the following week, interviewing a new industry peer.

• This format results in a dynamic chain of insights, perspectives, and knowledge-sharing, ensuring that the conversation remains fresh and continually explores the craft.

• Arielle Nissenblatt starts off season 2 of Podcast 360 as the host of episode #1. Subsequent hosts include Toya Coleman, Sequoia Holmes, Justin Richmond, Paddy Hirsch, Molly Wood, and Tom Merritt, each with their respective podcast titles. Additional guests/hosts and episode guide will be announced.

Why it matters

With a wide range of perspectives and areas of expertise, this diverse lineup of hosts promises lively and educational conversations on a variety of subjects on Podcast 360. This season guarantees listeners fresh perspectives and the discovery of new podcasts.

Our Take :

Take the opportunity to learn and be inspired by the inventive and passionate hosts of Podcast 360. Every Tuesday, tune in for a dose of thought-provoking discussions and captivating narratives.

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PODCAST INSIGHT 
🚨Podcast Revenue Surge Fuels Cineverse Corp.'s Q1 Success

Cineverse Corp., a global streaming technology company, cut 17% of its SG&A expenses in Q1 2024 and turned in a direct operating margin of 51%, powered by its cost-cutting measures and the achievement of its share repurchase program.

The Details:

• Its digital content library, numbering some 66,000 titles as of March 31, 2024, was approximately $39.8 million, up significantly from the 2023 valuation and well above the $2.6 million book library valuation as of June 30, 2024.

• It is now focused on new sales initiatives that include its Matchpoint technology, AI-related products, and its omni-advertising programs. The next installment of their horror franchise is Terrifier 3, which will be launched on 11 October 2024.

• The company's channel portfolio increased 73% in monthly viewers versus a year ago, with partial contribution from a couple of highly successful new channel launches such as Dog Whisperer and Garfield and Friends. Revenues also rose by 143%, with 44 podcasts being broadcasted, indicating potential growth for the new ad sales team.

• It reduced the company's total revenue by $2.4 million in streaming and digital revenue, which was hit by digital distribution decline and a legacy decrease in the digital cinema business. However, there was a 143% rise in podcast revenue, driven by increased popularity.

• Cash and cash equivalents overview: The company had $4.0 million at June 30, 2024. The maturity date of its $7.5 million Line of Credit Facility was pushed out to September 15, 2025.

Why it matters :

The strong performance within the podcast space underscores the company's ability to nimbly shift with the market's pulse and is representative of new opportunities for increasingly diversified streams of revenue growth.

This extension of the Line of Credit Facility not only provides the company with added financial flexibility but also enhances its ability to continue sustaining its operations and driving strategic initiatives in the future. These factors serve as important indicators of the resilience of the company and its bright potential for sustained success in the future.

Our View:

This is a potential extension that signals stability and growth for the company. The move underlines its commitment to continued investment in the podcast space and further cements its belief in the ability to continue growing in this competitive market.

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🗞️ TL;DR - PODCAST NEWS

• The US Bankruptcy Court for the Southern District of Texas granted Audacy's requested stay on impending debt maturities on Thursday during an emergency session. They will need every minute of it, given the Senate Commerce Committee news that same day.

• Cumulus Media has promoted SVP of Marketing Carolyn Chauncey to add podcasting to her role as it wades deeper into its digital strategy in radio. Chauncey will oversee the Cumulus Podcast Network as SVP of Marketing and Podcasting.

• A partnership between iHeartPodcasts, Universal Television, and Wolf Entertainment is developing an unscripted true-crime series based on "Law & Order: Criminal Justice System." The new series will have four 12-episode seasons, a first foray into investigative journalism for the popular podcast series.

• Food City, an initiative based in St. Louis, has launched a podcast zeroing in on food insecurity. The "Food for All Interview Series" exposes community-driven solutions to get healthful food equitably to the overall population and places importance on developing a sustainable food ecosystem within the region.

  
  

OXFORD ROAD
🎧 The Impact of Increased Ad Loads on Podcast Advertising Effectiveness

A study by Oxford Road and Podscribe analyzed that the rising number of advertisements within podcasts has contributed to a decrease in the value for podcast advertising. Podcasts had been a number one destination for performance marketers in which interesting content would meet affinity groups. But as pre-roll, mid-roll, and post-roll ads increased over time, this oversaturation presented a major obstacle that needed critical management.

The Details:

• Notably, the Oxford Road & Podscribe Study concludes that there is an audio advertising gap, whereby audio represents about 22% of Americans' daily media time while only commanding 4.5% of marketers' budgets on the audio channels. For that reason, this gap would rather pose a perfect opportunity for marketers since the audio channels are distinctly clean and low in clutter from advertising, unlike other channels.

• According to the PODLOAD REPORT: Ad Load Landscape from Oxford Road and Podscribe Study, there has been a 39% increase since Q1 2021 in Q1 2024, with the top 50 programs at an average ad load of 10.2% on the Apple Podcast Ranker.

• Sounds Profitable reported that 22% of podcast listeners skip ads, which is promising compared to other advertising platforms. However, 28% of podcasters engage with all ads. Ad-load landscape Download Oxford Road and Podscribe Study report: Podcast audiences are very tolerant of ads—only 9% could "barely tolerate" them, compared to 68% in traditional media.In an opposite trend, it is noticed that while listeners can tolerate their ads, as ad load increases in podcasts according to the Oxford Road & Podscribe Study, visitor rates decrease. Visitor rates start off at 0.3% and 0.2%, but with higher ad loads, they decreased by 25%, and their traffic poses a significant risk to channel efficiency.

The Data :

Campaign performance data was analyzed over six months from 164 advertisers going live on nearly 1,300 shows across more than 200 publishers using Podscribe's podcast ad analytics tool. Performance marketers from Health & Wellness to Technology, Finance, Food & Drink, Home Goods, and Personal Care have driven almost 1.7 billion impressions.

Why it matters:

Knowing what really goes into making the effectiveness of podcast advertising will certainly help marketers allocate marketing funds in the right manner and create a campaign strategy. This information can guide the future campaign strategies by revealing which industries are benefiting from podcast advertising most.

Our Take :

Knowing how effective podcast advertising is, the Podcast Producer is better placed to target their content to the most successful industries for podcast ads. Knowing what type of ads work best in different contexts can help creators optimize ad load and placement for maximum revenue potential.

IN COOPERATION WITH BADA EMBANKMENT

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Subscribe now to stay ahead of the curve. Let's navigate the dynamic banking landscape together!

💳TRITON DIGITAL
Podcast Rankings: News and True Crime Podcasts Reign Supreme

In a just-released July report, Triton Digital announced that iHeart Audience Network had regained the top spot on the Top Sales Networks Report in the US Podcast Ranker as measured by Triton's Podcast Metrics measurement service.

The Details:

• iHeart Audience Network got the #1 spot with 66.4M Average Weekly Downloads and 18.4M Average Weekly Users.

• It was followed by SiriusXM Podcast Network with 38.5 million Average Weekly Downloads and 12.8 million Average Weekly Users, staying at #2, while NPR remained at #3 with 25.3 million Average Weekly Downloads and 6.3 million Average Weekly Users.

• The top three most downloaded shows this reporting period were #1 NPR News Now from NPR, #2 Up First from NPR, and #3 Dateline NBC from NBCUniversal News Group.

• The top three podcasts for listeners came in again this week: NPR News Now from NPR, again at #1; Crime Junkie from audiochuck, again at #2; and Up First from NPR, again at #3.

Other Debuts:

Downloads and listeners premiered several podcasts during July. Among them are the Cancelled with Tana Mongeau, the Bongino Report Early Edition with Evita, The Steve Harvey Morning Show, and Embedded. Others were Missing in America, Where Everybody Knows Your Name, Listen to the Story, and The Sean Hannity Show. These also premiered and ready for listening to. The shows were produced by different platforms.

 The Data :

The top sales network reports, ranked by average weekly downloads and users, are supported through IAB Podcast Technical Measurement Guidelines. Triton's Podcast Metrics assures the IAB Tech Lab's validation and transparency of audience data for content creators, marketers, media buyers, and the audio industry alike.

Why it matters:

The rankings show that news and true crime podcasts are still in demand for listeners. The continued placing of NPR points to the strength of their content in podcasting.

Our Take:

These rankings may help us better understand the tastes and trends of the audience so that with the same, we can tailor content better to engage listeners and attract more advertisers. In a competitive industry like podcasting, it is data-driven insights such as these that will help shape strategic decisions toward success.

🚀HIRE A PODCAST PROFESSIONALS

👉 Would like to be featured in our newsletter?. Come along with the growing number of podcast creators who rely on PODWIRES Marketplace to make their journey easier. Register right away.

📢 WHO’S HIRING?

• The Guardian UK is now looking for an Audio Producers and be a part of a diverse and inclusive global organisation that delivers fearless, investigative journalism, and holds power to account.

• New Zealand Media & Entertainment(NZME) is hiring a Commercial Lead - Digital Audio.

• Reuters is looking for an experienced Podcast Producer to join the team responsible for Reuters World News, our fast-growing daily show, and help shape our expansion of audio programming.

• BFBS, the Forces Station, is looking for an experienced radio presenter-producer who wants to broadcast to British audiences worldwide.

• Global is hiring a Production Coordinator - Podcast. You will work with Podcast Producers and Podcast and Operation team Heads to ensure each slate podcast goes through the production cycle smoothly.

• EA Sports (Canada) is looking for a Audio Producer
  
  

📌 NOTICE BOARD

• August 19-22: Podcast Movement 2024 - Washington, D.C.

• September 3: Podcast Day Asia - Kuala Lumpur, Malaysia

• September 2 - 4 : Radiodays Asia 2024 - Kuala Lumpur, Malaysia

• September 18 : Radio Academy Festival 2024 - London, UK

Visit Podwires Marketplace to post your upcoming events or job openings for free.

🔆 FROM OUR COMMUNITY

• Check out Morgan Swift's blog post "How to identify an ideal cross-promotional partner" if you're trying to grow your podcast audience.

• Katie Paterson wrote an article about which social media platforms that actually work for Podcasters.

• Roni Gosch from Podbean wrote an interesting article about why your blog needs a podcast.

• Tess Ryan from MakeUseOf.com wrote an excellent article about three features I wish Spotify had for podcasts (and how to work around them). You should definitely check it out.

• The latest from Sounds Profitable is examined by Tom Webster for pointers to make a podcasting sales pitch.

• Interesting article on "How this duo grew a podcast empire - for just $70" by Lauren Sams of the Financial Review.

🛠️ PODCAST TOOLBOX

• 📢 Zencastr is an all-in-one podcast production suite that gives you studio quality audio and video without needing all the technical know-how.

• 🎙️ Acast - is a podcast hosting service that enables you to publish, share, and earn money from your podcasts.

• 🎧 Epidemic Sound - is a company that provides content producers with access to a sizable library of royalty-free music.

• 📼 Tubebuddy - is a complete tool for YouTube channel management and growth.

• 🪀 Swell AI turns podcasts or videos into transcripts, clips, show notes, articles, summaries, titles, newsletters, social posts, and more.

Browse more Tools ➡️

DISCLAIMER This podcast toolbox includes affiliate links If you decide to make a purchase using them, we may receive a small kickback which helps to support the newsletter which allows us to operate it. Thanks in advance!

Podwires is here because of our incredible partners' unwavering support.

FROM THE TEAM

📖 I appreciate you taking the time to read! See you in the next issue. Got a question or criticism? Just click on Reply. We can talk while we are here.

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