🎙️TODAY’S BRIEF

• 🔥Spotify Reveals Video Podcast Revolution: 40% of New Listeners Choose Visual Content

• 🚨 Podcast Insight: Audio Ascendancy: How Podcasts Outpaced TV in Consumer Trust and Ad Engagement

• 🌏 Podcast Elsewhere:  Audacy Podcasts Partners with PAVE Studios: Revolutionizing Podcast Distribution and Ad Sales

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Spotify
🔥Spotify Reveals Video Podcast Revolution: 40% of New Listeners Choose Visual Content

The 2024 Spotify Fan Study has revealed a monumental shift in the podcasting landscape, where video podcasts have emerged as the new frontier for audience engagement.

According to the research, 40% of new Spotify podcast listeners in 2024 opted for video podcasts, showing the shifting trend in listener preferences. The visual revolution is not limited to how things appear on screens but creates amazing levels of audience loyalty, extends the global reach, and reaches across generations.

The dividing line between audio and visual is getting blurred, which presents both a great challenge and opportunity for podcasters to embrace the power of video in creating more immersive, engaging, and globally resonating content.

It focused on the viewing habits of the video podcast audience, analyzed the levels of loyalty within audiences, and tried to give a number of emerging global engagement trends of these viewers.

The report underlines the growing appeal of video podcasts among Spotify users, where 40% of new podcast listeners prefer video formats. It also reveals that video podcast audiences are 1.3 times more retainable than audio-only audiences, boasts global appeal, and the consumption rate among younger demographics is very high. The study shows flexibility in consumption habits, saying 67% of users switch between watching and listening, while the most engaged in giving full attention to video podcasts is Gen Z.

The Key Points:

• 40% of new Spotify podcast listeners in 2024 chose video podcasts

• Video podcast audiences are 30% more likely to retain than audio-only audiences

• Video podcasts have worldwide appeal, with top consumption in diverse countries

• 67% of users switch between watching video and listening to audio in video podcasts

• Generation Z (13-17) consumes 54% of the time in actively watching the video content

• More than 70% of video podcast consumers do so in the foreground.

Our Analogy: Think of the podcast industry as a busy restaurant district. For years, audio podcasts were the takeout joints down the street: convenient, enjoyed, but a little limited in their dining experience. Now, video podcasts are turning those takeout joints into full-service restaurants with open kitchens. Customers, in other words listeners, can now take out the meal and listen while doing something else, or dine in and watch intently. The chef, also known as the podcaster, is visible and adds another layer of engagement to the production of the meal through new types of content. This new format isn't just updating the food service but also bringing in new diners, making regulars more frequent, and even encouraging international food critics that a global audience can recognize.

Our View: As podcast producers, we take Spotify's Fan Study 2024 findings as a roadmap of great opportunities for innovative content and a driver in navigating the shifting landscape of podcast production. Video podcasts are gaining such momentum that it points one way: the path of evolution in content. We really should be considering how to introduce visual elements in our programs without losing that which makes podcasting so unique in the first place: its intimacy and flexibility.

This is great, since engagement times are higher for video podcasts. This means with the addition of a visual component, we will be able to build stronger, more durable relationships with our listeners, but we cannot afford to dumb down the quality of our audio. The majority of our listeners will still be an audio-only audience.

This also opens new possibilities for international growth because video podcasts are a globally appealing product. One might consider how to make his or her content more accessible to global viewers perhaps through visual storytelling techniques that transcend language barriers.

It's this flexibility in consumption patterns-usually flipping between watching and listening-that dares us to make something which will work both ways. That might mean creating a visual language which enhances the storytelling and doesn't feel essential to the story being told.

The good engagement, especially among the younger sets, that is Gen Z, indicates that a chunk of our content should be carved out for the viewers. This may be done either by including more interactive elements or by taking up topics which are most dear to them.

This does not mean we should forget those in older demographics, since this device is earning a lot of interest among them, too. It allows us to create content that interlinks generations and strikes a responsive chord in multi-variant audiences.

Lastly, a high percentage of foreground watching indicates that our visual content should be good enough to hold attention; this may require investment in higher quality video production and more cinematic thinking in how we present our content.

That is, the transition to video adds new technical and creative challenges, whereas the possibility of growing the audience, enhancing engagement, and innovating approaches to storytelling is at its very beginning. The most significant thing facing producers who currently make podcasts is how to embrace this trend without losing the core strengths of podcasting as a medium.

🗞️ TL;DR - PODCAST NEWS

• Libsyn to Spotlight Programmatic Podcast Advertising at Advertising Week New York 2024. Leading podcasting platform Libsyn will present a panel at Advertising Week New York 2024 to talk about how programmatic advertising is changing the podcast market by giving advertisers and producers new ways to make money.

• Podimo's Acquisition of Podads Signals New Era for Danish Podcast Monetization. Podimo, a subscription-based podcast platform, has acquired Podads, a leading Danish podcast agency, to create a hybrid model that combines subscription and advertising revenue streams, aiming to increase earnings and growth opportunities for podcast creators in Denmark

• Audacy Podcasts Partners with PAVE Studios: Revolutionizing Podcast Distribution and Ad Sales. Audacy Podcasts and PAVE Studios have formed a partnership to manage ad sales and distribution for popular podcast brands Crime House and OpenMind, aiming to support creators and expand audience reach in the rapidly growing podcast industry.

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PODCAST INSIGHTS: 
Trust Revolution: Podcasts Crowned Most Credible Medium in 2024 SiriusXM Survey

It was a surprise to many at Advertising Week-New York as the latest survey from SiriusXM flipped the media world upside down, and podcasting was declared the new king of the trust factor. An unheard-of 40% of those surveyed bestowed their trust on podcast content, pushing this new-ish audio format past other influential media-such as AM/FM radio and even television. This tectonic shift in consumer trust not only reshapes our vision for information but also flags a golden opportunity for marketers-a medium that's 23 times more authentic than social media.

The Details: Edison Research, for SiriusXM, has polled over 3,000 Americans aged 13 and above between May and June of 2021. It shows that podcasts are the most-trusted medium against AM/FM radio and traditional TV. The study throws light upon listeners who are willing to engage with podcast ads, hands-free listening is common, and the medium could be a great way to reach people during prime shopping hours. This report also highlights how the combination of SiriusXM with other media channels increases reach to offer more ways for advertisers to effectively reach their target audiences.

The Key Highlights:

• 40% of those surveyed see podcasts as the most trustworthy medium.

• 58% said they would not object to ads if the content were free or low-cost.

• Over 80% of the consumption of podcasts is hands-free and screenless.

• Audio advertisements elicit 50% more attention compared with other formats.

• SiriusXM can really help scale up the reach when combined with other media channels.

Our Analogy: Visualize the mediascape as a city in which various platforms are like neighbourhoods competing very hard for the confidence of its residents. For years, traditional TV and radio were the high-class districts in which people felt safest.

All of a sudden, podcasts came along-the new cool neighborhood everyone is talking about. Not only is it hip, but it is where people feel most at home, trusting their neighbors-aka hosts-and even welcoming door-to-door salespeople-aka advertisers. As more citizens-listeners put down their roots and invite their friends into this podcast neighborhood, it is fast becoming a hub to be in, where genuine relationships and clear information are to be had.

Our View : We consider this finding of the survey revolutionary as podcast producers. The fact that podcasts have such high trust levels validates them as a powerful tool for communication and influence. This opens an unparalleled opportunity to not only entertain but also to inform and shape public opinion with our content. But most of all, the willingness of listeners to engage with ads bodes particularly well, opening up new avenues for monetization without alienating our audience.

But great trust has to be matched by great responsibility, so the saying goes. It means that we have to ensure the authenticity and quality that have rightly earned podcasts this enviable position are safeguarded. Now, of course, comes the challenge in balancing increasing demand for advertising in our medium with how to preserve that intimate, trusting nature of our content. That perhaps involves exploring new ways of ad delivery, including integrated and native advertising seamlessly blending into the listening experience.

With this in mind, hands-free listening has significant implications for creating an engaging audio experience that does not rely on a screen. We can take this into our methods of production and push ourselves further in the development of our sound design and narrative structures to engage a listener without the need for visuals.

Finally, there is incremental reach via partnerships with platforms like SiriusXM that are creating some exciting opportunities to expand our audiences and extend our reach. As producers, we should seize these cross-platform opportunities, where it makes sense, in order to maximize our reach while sustaining the uniqueness that makes podcasts so trusted and loved.

With this, it can be concluded that podcasting does have an impact, and this report challenges us to continually work on our skills so we sustain the faith of our listeners in us.

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📌 NOTICE BOARD

• October 3 & 4 : International Women's Podcast Festival - London, UK

• October 8 : Café Convos: A Networking event by BIPOC Podcast Creators - New York, USA

• October 18- 20 : Afros & Audio Podcast Festival - Baltimore, MD

• January 16 -18 : Podfest Expo - Orlando, USA

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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.

• In this latest Podbean blog post by Roni Gosch, wrote 3 Ways to Boost Your Podcast’s SEO with Podbean AI

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🛠️ 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.

• 🎙️Rode - is an Australian-based audio technology company specializing in the design and manufacture of microphones, headphones, audio interfaces, and audio software.

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

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