🚀Veritonic Study Reveals Impact of Audio in Films

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Let’s dive in on today’s newsletter.

• 🎧Global Podcast Market to Grow by USD 15.70 Billion by 2028

• 🎙️Veritonic Study Reveals Impact of Audio in Films

• 🚨 Podcast Insight : Cumulus Media's 2024 Audioscape Report Unveils Podcast Consumer Trends

• 🌏 Podcast Recommendation: The Taming of the Shrew.

• 🛠️Podcast Events & Toolbox

🎧 Global Podcast Market to Grow by USD 15.70 Billion by 2028

The Background:

Interview, conversational, solo, panel, and repurposed content are the categories used in the report's analysis of the podcast market. The market is divided into niches by genres, including sports, comedy, society and culture, and news and politics. APAC, Europe, North America, Middle East and Africa, and South America are further divided into sections in the report. For each segment, market size, historical data (2018–2022), and future projections are given in USD millions. The study examines consumer trends, the growth of podcast platforms, the application of data analytics to targeted advertising and content, the rivalry between podcast service providers, and the variability of user preferences.The Revelation:

According to Technavio, the podcast market is projected to reach a value of USD 15.70 billion by 2024–2028. A compound annual growth rate of 29.08% is anticipated for the market. The rise of podcast platforms has altered the way that content is found, shared, and listened to on a global scale. These days, major podcast libraries, tailored recommendations, and exclusive content are available on Spotify, Apple Podcasts, Google Podcasts, and Amazon Music.

Podcast platforms face intense competition, which leads to issues like fragmented content and disgruntled listeners. The content available on platforms is fragmented due to exclusive deals with popular podcasts.Why this Matters:

The market for podcasts is expanding due to the spread of podcast platforms. Podcast distribution, discovery, and consumption have all undergone revolutionary changes thanks to podcast platforms. The podcasting industry has become more dynamic and competitive due to the entry of multiple platforms with varying features, content libraries, and monetization models. The increasing use of data analytics for targeted advertising and content is a major factor driving the growth of the podcast industry. Our Data and Sources:

Technavio analyses, compiles, and synthesises data from various sources to provide a comprehensive picture of the market. With an emphasis on identifying the major industry influencers, the analysts have presented the market's various facets. The information thus provided is thorough, trustworthy, and the outcome of substantial primary and secondary research.Our Take:

The market for podcasts has been expanding gradually as a result of growing subscription costs and easier accessibility through media players, PCs, iPods, and cell phones. Podcasts make use of IoT and media streaming platforms to easily reach listeners. Blockchain secures transactions, while AI improves content discovery.Technology for accessible transcription benefits a variety of users. Daily horoscopes broaden the audience for businesses. Podcasts that teach employ technology. As audio files multiply online and provide a wide range of content for various audiences and interests, the podcast market is changing.

🎙️Veritonic Study Reveals Impact of Audio in Films

The Background:

Audio has a powerful impact on our physical and emotional well-being. When promoting feature films, studios and networks have a limited amount of time (two to two and a half minutes) to engage audiences, and 50% of that time is spent on audio.

Veritonic surveyed hundreds of consumers in April 2024 to determine the impact of audio in movies, trailers, soundtracks, and more. The findings underscore the urgency for studios and production companies to test audio for movies to improve audience engagement and experience.

The Revelation:

Based on Veritonic's research, 90% of consumers are more likely to watch a movie if they like the music on its soundtrack, while 98% of consumers are more likely to watch a movie if they like the music in its trailers.

The study also found that 83% of consumers say they are more likely to see a movie if they recognize the music playing in a movie trailer, and 82% of consumers will seek out a movie's soundtrack to listen to if they enjoy a movie.

Why this matters:

As a podcaster and podcast producer, especially if you are in the audio documentary space, knowing this survey will allow you to think about what will be the best music for your podcast. As the study further revealed that 93% of consumers said that the music playing in the background of a movie scene has a direct impact on how they feel about what they are watching on screen and 72% said that the songs that are chosen for a movie soundtrack have a direct impact on how they feel about the brands that are associated with a movie.

Our data and sources:

Data based on an analysis of online survey responses, conducted by Veritonic, from hundreds of people in the U.S. who said they listen to podcasts at least once a month & recall watching both a movie and a movie trailer within the past month.

Our take:

The bottom line is that audio matters.

What you choose as the background for your movies and trailers can make or break your audience's experience, and can also open or close a world of possibilities in terms of related engagement opportunities, including soundtracks, adaptations, podcasts, etc.

To be 100% sure that the background music you're choosing is right not only for your content, but for your audience and their experience, an investment in audio testing and optimization is critical.

💥 Attention, podcasters!

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1. Effortless Collaboration: Connect with talented audio professionals who can elevate your podcast's production quality.

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Join the thriving community of podcasters who trust Podworks.io to simplify their journey. Sign up today and unlock the full potential of your show!

🚨Cumulus Media's 2024 Audioscape Report Unveils Podcast Consumer Trends

The Background :

Audio is a big part of American life. AM/FM radio is still popular, but podcasts are becoming more popular too. They offer brands a way to connect with people.

The Revelation:

Cumulus Media's 2024 Audioscape report found that 32% of U.S. 25-54s listen to podcasts daily. Edison’s “Infinite Dial” study reports that 25-54 weekly podcast reach is 44% and 59% listen monthly.

Podcast listeners are well-off and educated, according to Nielsen Scarborough. They listen at home throughout the day. Podcasts are more popular on smart speakers than ever.

Why This Matters:

Podcast producers and podcasters can use this information to plan their shows.

Our Data and Sources:

The 2024 Audioscape report from Cumulus Media looks at the latest podcast consumer trends. It draws on the Fall 2023 Podcast Buying Power report from Nielsen Scarborough and the Q4 2023 "Share of Ear" study from Edison Research.

Our Take:

This new finding can help independent podcast producers in the United States to target the right audience and spend their marketing funds wisely. For the study, see the Cumulus Media 2024 Audioscape.

👉 Get the latest news from Australia in a bite-sized report in 5 minutes. Click here to get started.

• The best podcast cover art may be black, blue, or white, but Podcastle found that that is just one of many factors that make a show successful. It looks at what podcasters and listeners want when they put on their headphones.

• A new podcast series called "Find and Tell" by ARN's iHeart and Indigenous Podcast Network BlakCast aims to discover the next wave of diverse storytellers.

• The branded podcast division of Rogers Sports & Media, Pacific Content, is closing.

Building upon Play On Shakespeare’s mission to enhance the understanding of Shakespeare’s plays in performance, Play On Podcasts bring timeless tales directly to modern audiences. The series – presented by Next Chapter Podcasts in partnership with Play On Shakespeare – has released Macbeth, Pericles, A Midsummer Night’s Dream, and Coriolanus amongst various other titles over the last three years.

Play On Podcasts recently won two Signal Awards – for Best Original Music/Score (Gold) and for Best Scripted Fiction (Silver). Play On Podcasts also recently won at The Ambies – for Best Original Score and Music Supervision [Lindsay Jones for Othello].

This summer, Play On Podcasts releases The Taming of the Shrew. Amy Freed’s modern verse translation is presented as satire in which the two smartest people in the room come together to tame the society that surrounds them. Direction by Art Manke; adapted by Amy Freed and Leanna Keyes. The series is set in Renaissance Italy.

This section is updated on a regular basis. View more, feel free to add yours

Send press releases to [email protected]. Editorially, we may rewrite headlines and descriptions. Visit podworks.io to post your upcoming events or job openings for free.

• Growing and retaining a podcast audience is a major challenge. But growing and connecting with your podcast audience doesn't have to be hard! Alban, Jordan, and Kevin discuss how Fan Mail and Buzzsprout Ads improvements can help you reach new and existing podcast listeners in this Buzzcast episode!

• How ChatGPT’s new model could transform podcasting and public media. OpenAI announced GPT-4o, its latest language model, this week, with improved multimodal capabilities. The “o” in GPT-4o stands for “omni,” emphasising its real-time reasoning across audio, vision, and text.

• Fixing a Major Drop in Downloads. In this episode of Buzzcast Jordan, Alban, and Kevin offer up some troubleshooting tips for fellow podcasters, break down.

• If no one hears your amazing content, is it still as brilliant as the adage "tree in the forest"? In this episode, Colin Grey and Matthew Mclean share "Top Promo & Growth Lessons From Successful Indie Podcasters" with us.

• The Biggest Threat To Podcasting in 2024, According to Experts. To different people, podcasting might signify different things. It's a community, a company, or a hobby for some people. To some, it's their life.

Welcome to the Podcaster Toolbox, a crowd-sourced resource for independent, DIY, and/or beginning home-based podcasters.

The Kangaroofern Media Lab team will review the resources submitted here and add them as soon as possible to the Podcaster Toolbox.

• 🏜️ Transistor.fm - is a powerful and simple podcasting platform. The ability to host multiple podcasts on one account makes it ideal for podcasters with multiple shows.

• 📢 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.

• 🔊 Soundstripe is a platform that offers thousands of royalty free music, sound effects, and video for your projects.

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

• 📹 VidIQ - is a website for learning that focuses on offering video tutorials and analytics to aid users in expanding their YouTube channels.

The complete Toolbox can be seen at https://www.podworks.io/toolbox

👀 Employing? or trying to find a new job?

Do you need to hire for your podcast? Here's where you can post a job (for free). Come hang out with us at podworks.io if you are a professional podcast producer!

More on Kangaroofern Media Lab

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We set our own news agenda, which is always based on facts rather than billionaire ownership or political pressure. Despite the financial challenges that our industry faces, we have decided to keep our reporting open to the public because we believe that everyone has the right to know the truth about the events that shape their world.Thanks to the support of our readers, we can continue to provide free reporting. If you can, please choose to support The Podwires