🎙️TODAY’S BRIEF

• 🔥The Growing Influence of Podcasting in the Creator Economy

• 🚨 Podcast Insight:  Podcast Consumption Soars: What the Biggest Study in America Tells Us

• 🌏 Podcast Elsewhere:  Transform Your Podcast Episodes into Engaging Social Media Videos.

👋 Hi, Podsky! Happy Fri-yay!

And hello from Sydney, Australia, where I am editing today's issue on the computer in my Marriott hotel room with my daughter and wife, who are preparing to attend an AESPA ParallelLine concert tonight.

My daughter is a K-pop fan and Aespa is the first time the all-female group have brought their energetic blend of pop, electronic and hip-hop to Australian shores. Oh well, I'll probably stick to podcasting.

Incidentally, our Editor at Large Miko Santos has also posted a new episode of That Podcast Exchange and interviewed 2017 Podcast of Hall fame Inductee Rob Greenlee about the recent podcast movement, so check it out.

As always, contact us via email, and don't forget to sign up for this newsletter here if you haven't already. Encourage a friend to subscribe as well!

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IAB
🔥The Growing Influence of Podcasting in the Creator Economy

The creator economy is estimated to reach $250 billion in 2023 and double to $480 billion in 2027. This impact for marketing is about to get new because marketing messages are going to align with personal relevance creators help bestow upon content. For podcasters, whose personal relationship with their audience is a hallmark, this is fast becoming a critical new tactic for marketing.

The IAB Podcasting in the Creator Economy:

• This is because the rapid growth of the creator economy is basically fueled by the alignment of marketing messages with creator content that holds personal relevance. As podcasters continue to churn out more social and video content, it's a lot more important to understand their unique capabilities for the purpose of value creation for audiences and advertisers in the Creator Economy.

• Podcasting is increasingly used to gain new insights into our everyday life, as evidenced by a 40% surge in listeners conducting searches for information and self-improvement. Deep long-form conversations are building trust and affinity, so it comes as no surprise that podcasting forms a cornerstone of influencer marketing today. Some 73% of podcast audiences find it critical and meaningful.

• Podcasters hold immense power, where 75% of consumers find the content more worthwhile than the original influencers of social media-a reason being that in podcasts, a connection is found to be much deeper and authentic. For brands too, a halo effect often works, as 91% of listeners report taking action after hearing a podcast ad.

Zoom in:

Podcasting in the Creator Economy. Podcasters like Najaar make personal connections on topics from dating to mental health to pop culture and hence foster relatability and understanding of their audience. They relate to their audience through candid discussions about self-improvement, independence, and adaptability. In this manner, podcasters will be able to capture value for themselves and their audiences alike, in addition to the advertisers. This close bond will help them increase their overall success in the Creator Economy.

The Reveal :

Podcasts become a source for the enthusiast and others because, through podcasts, founders can express likeability, credibility, reliability, and relatability; all that with the essence of entertainment. Transparency and authenticity in everything listeners enjoy radio shows and ads, and trust them to pay attention and show interest in brands or products hosts are advertising.

Podcasters like Najaar and Alex Cooper have gained huge followings on all podcasting platforms, social media, and online communities for their candidness and on-soul-searching commentary. What makes them rather unique is an ability to build these very genuine communities of people with shared interests and spiritual alignment, making them very attentive and receptive to ads on their favorite podcasts, which is a very good value proposition for advertisers.

Why it matters:

Podcasting, within the creator economy, has evolved into a medium where creators can enjoy deeper intimacy with their listeners. They grow tight-knit communities; creators like Najaar and Alex Cooper are key partners for brand advertisers. Over the past decade, the number of Americans aged 12 and older who listen to podcasts has tripled, growing a base of 135 million people or almost 100 million listeners per week. That represents tremendous growth and wide acceptance of podcast content. In other words, podcasting has turned into a mass medium when it reaches plus 60% every month in key advertising demos.

The personal relevance of podcast content provides unique opportunities for advertisers in driving effectiveness across manifold industries, simply by better connecting with audiences on a deeper level and fostering great engagement and loyalty. Major categories-including Arts, Entertainment, & Media, CPG, and Retail-have accelerated podcasting growth over the last three years, while revenue is up 250% in other categories including Energy, Home Improvement, and Pharmaceuticals, a testament to the breadth of advertisers finding success in podcasting.

Our Take:

As podcasters ourselves, we feel that the continued success and growth of podcasting as an advertising medium is a testament to the power of genuine storytelling and laser-focused messaging. Podcasts provide a unique opportunity for brands to meaningfully connect and leave a mark with consumers through highly personal access to engaged audiences.

Full report below 👇

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🗞️ TL;DR - PODCAST NEWS

• Transform Your Podcast Episodes into Engaging Social Media Videos. Videos are becoming the best social media format for engagement and sharing. They're engaging and effective—82% of people say a video convinced them to buy a product or service.

• Origins with Cush Jumbo, Launching 3rd September. Sony Music Entertainment (SME) has released the trailer for new podcast, Origins with Cush Jumbo, launching on 3rd September.

• The Celebrity Issue by Good Tape: Pre-Order Now for Limited Editions. Good Tape will be releasing "The Celebrity Issue" during the first week of October. We will print limited editions after our pre-order, so pre-order your copy by September 30th to ensure you get one.

  
  

  
  

PODCAST INSIGHT 
🚨 Podcast Consumption Soars: What the Biggest Study in America Tells Us

In June 2024, the largest public study concerning podcasting in America was done through a survey by Sounds Profitable and Signal Hill Insights. The survey involved 5071 Americans aged 18 and above who participated in a released online survey. A number of topics related to podcasts were concentrated on in the study, including listener behavior, frequency, and motivations.

The Revelations:

• A large population study showed that 53% of Americans aged 18+ listened to or viewed an audio or video podcast in the last 30 days, which is up significantly from previous podcast consumption. It's important for the industry to learn just how these video-first consumers react to podcasts and whether they switch out to non-podcast video or remain loyal to podcasts.

• The male domination in the audience base can thus be attributed to the nature of the content provided by male YouTube stars and their popularity. This year, 2024, witnessed five new entrants in the Top 20 podcast listing-a fact showcasing the thriving nature of the medium to keep up with new content.

• With over 60% of the Hispanic/Latino and Black populations falling under the 53% of Americans aged 18+ listening to podcasts, this is a good opportunistic time for the podcasting marketplace. Subsequent reports will consider these groups in terms of gender and age to point out the richness of listening experiences that characterize different demographics.

• The data shown in this study is very credible for Asian-American podcast consumers, who have thus far been underrepresented in podcast studies due to sample size constraints. Asian-American podcast consumers are over-indexed in being monthly listeners at a rate of 62%. Perhaps even more salient to the point, though, are the 57% of monthly podcast listeners who identify as LGBTQ+ Americans-this is another great growth opportunity for podcast creators.

Zoom in:

Podcasters need to be strategic about word of mouth to get the next generation of listeners; growth channels include YouTube and paid ads.

It is the perceived pressure of time constraint that makes podcasts appealing, yet listener attrition due to decreased quality can affect audience retention. The Persuadables are the next target audience for podcasts; these are people who are ready and willing to listen to new content. In positioning for this audience, the Persuadables, podcasts can be set up as one sure-fire remedy against boredom and aimless scrolling.

Podcast Landscape 2024 really hit it home: with 53% of Americans 18+ listening to podcasts on a monthly basis, podcasts are real growth. The listenership also reflects the makeup of gender and race/ethnicity in the population, making this a very mainstream medium. Growth may be slowing while users take longer to transition from triers to regular users.

Top 20 favorite podcasts: Comedy, News, Sports, Political Talk, True Crime, History, Celebrity Interviews, Self-Improvement, Pop Culture, Health & Fitness, TV & Film, Technology, Drama or Fiction, Science, Business, Spirituality, Education, Video Gaming, Religion. The more mainstream the audience, the more interest in podcasts about TV, Film, and even brands.

Zoom Out:

The podcast landscape has changed so much. Podcasters, meanwhile, have to keep working on ways to be unique and meaningful for a growing audience-and tackle those challenges-to continue finding success in this dynamic audio ecosystem.

The podcasting world is increasingly a mainstream medium, with deep interest from TV, film, and brand-related content. Podcasting content is as mass-appealable as it has ever been with a variety of sponsors that contribute to the growth of the medium.

The Podcast Landscape also showed the durability of Black and Hispanic audiences, plus those previously underreported in large numbers, like Asian-Americans and the LGBTQ+ audience. Podcasts attract a singular and varied collection of audiences that advertisers should pay close attention to. On the other hand, podcasts still haven't been able to involve women and people over 55, though there are signals that the age makeup is starting to change.

YouTube has set in stone and fleshed out its position on podcasting, at least where discovery is concerned. Podcasters need to spend some time of each episode talking about what podcasts bring to the table that nothing else can and foster a sense of urgency for the format, so when one listener "falls," they fall to another podcast, not to TikTok.

Conclusion:

Podcasting is an integral part of the podcast world; what used to be YouTube now takes over most of the drives for new hits to mediums. Where podcasters should focus their efforts: attract new audiences and plant a feel of urgency about the medium so that it's another podcast catching them, not TikTok.

The Data and Sources :

The Podcast Landscape 2024 rounds up such research into the podcast industry's audience-in this case, video-first consumers. This report, informed by data from 5,071 Americans 18+, seeks to understand the various subgroups and segments comprising the podcast universe. It tries to gain insight into which of these consumers prefer non-podcast video and which can be retained.

Why it matters:

With podcasting bound to continue to surge in popularity, it is already integral that creators recognize the singular value they bring to their listener base and move to actively support the medium. It's easy to speak to this notion of digital, of being lost in the crowded room of the world wide web, as podcasters can attract and retain listeners in the competitive digital landscape by emphasizing the unique value proposition of their podcasts and creating engaging content for listeners.

Our Take:

Podcasters should utilize the viewership base of YouTube for promoting their shows and reaching out to new listeners. Artists can keep themselves relevant using numerous platforms and strategies to attract a wide variety of viewers.

Full report below 👇 or click here for the video

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💳IAB
Growing Importance of Retail Media Advertising in Australia in 2024

The IAB Australia Retail Media State of the Nation 2024 Report showed that retail media advertising is becoming increasingly important in Australia, as 37% of investors stated they had spent a significant amount of their media and marketing budget in retail media over the last 18 months.

The Revelation:

• The report also points to data tapping at the moment of purchase by a retailer as important and a key driver of investment for agencies and marketers alike.

• This is because 69% of advertisers will prioritize ROAS to continue and increase investment. The need for measurement-related requirements has gone up in the last one year.

• Obstacles to retail media investment: measurement and reporting at 45%, attribution capabilities 34%, partnership cost 34%, and the complexity of brand-retailer relationships at 41%.

Zoom in :

To help support the industry, IAB Australia's Retail Media Council today launched a new collaborative industry resource: 'Australian Retail Media Measurement Principles and Guidance'. The guide outlines five principles: Transparency & consistency, Accuracy & reliability, Shopper Centric, Privacy & security, and Compliance with industry standards and best practices.

According to Gai Le Roy, chief executive at IAB Australia, this report underlines the call for increased confidence in retail media investment and reporting harmonization as more players come into the market. The report is based on data gathered from a survey of the industry, involving 134 advertising investment decision makers and influencers from media agencies, agency trading desks, creative agencies, and the brand side.

Why it matters:

The retail media landscape is going to continue to evolve and grow. Building trust and standardization in reporting is key between advertisers and media partners. By adhering to these principles and guidance, stakeholders can be better assured a more transparent, accurate, and shopper-centric approach to retail media investment.

Our take:

It is about trusting and standardizing the reporting in the retail media landscape to make sure transparency and accuracy are achieved in advertising investment. Both advertisers and media partners can benefit from the advantages of stakeholders taking a more shopper-centric approach by following guidelines and principles set out in this report.

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

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📌 NOTICE BOARD

• 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

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

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🔆 FROM OUR COMMUNITY

• Jay Nachlis of Coleman Insights has written an interesting article about "Why Podcasters Must Urgently Adopt a Video Strategy" and he makes a good point.

• Buzzsprout reveals where the best place to get free music for your podcast will be in 2024 in their latest blog.

• Katie Paterson of Podcast Host wrote an article about "Podcast regulations: what lies ahead for us?

• An interesting blog post from the Headliner app about AI in podcasting: the ethical implications and how to use AI for the success of your podcast.

🛠️ 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.

• 📼 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 ➡️

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