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Opportunity with audio

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We have an explosion of wearables - AirPods Pro - and smart speakers are now everywhere. What would an audio-first experience be like?

A business idea generated while in Antler, Singapore, 2020.

Published in: Social Media
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Opportunity with audio

  1. 1. Opportunity with Audio
  2. 2. Audio consumption is exploding. That’s being driven by more than just the smartphone. It’s also hardware, better creation tools, and found time.
  3. 3. Audio is a marketer’s dream. You are literally in their heads; they are a captive audience.
  4. 4. We have leveraged camera (Instagram) and GPS (Uber). We now need to start thinking: “What does audio-first content look like?”
  5. 5. Problems
  6. 6. Too much content • Exploding audio content - podcasts • How to consume and absorb as much knowledge in the shortest time? • New found time: • Gym/Walk (1 hr), Commute (2 hr) -> 3 hr a day • 10% of our time can be listening to pure audio
  7. 7. Discovering Asia Podcasts • Few Singapore podcasts, same for SEA • Top podcasts from US & China • Types of podcasters: • Podcast Producers: iHeartMedia, NPR, Wondery (Business War) • Indie (domain expert): Joe Rogan, Tim Ferris • Hobbyist
  8. 8. Podcasters • Lack of monetization channel. Now uses in-stream audio ads. • Cannot track performance accurately • Skip since disruptive, or easily ignored/forgotten • Hobbyist (long-tail) impossible to get sponsorship
  9. 9. Ideas
  10. 10. Social Audio • Social sharing of short form audio • With accompanied transcriptions • Able to reply with audio
  11. 11. Transcript & Share • Auto transcribe all audio/podcast • Embeddable in podcasters websites (think SEO) • Sharable chunks • Host audio in chunks - able to share without downloading 100 MB! • Can fav the chunks
  12. 12. podmark • A markup for podcast/audio • [0:12 #intro] • [1:23 #ad "Boost your brain" https://powercaffein.com/ tim] • <podmark start="1:23" duration="1m34s" tags="ad,topic123" url="..."> • Embeddable in websites, with great UI, support accompanying picture/video
  13. 13. Podcasters Ads • Allow podcasters to insert banner/interstitial ads within our app, with their CTA affiliate links • Provide analytics to usage
  14. 14. Space Time • Audio messages in a certain space time • Discover by a geographic location eg. Merlion statue
  15. 15. The Product: AudioWeb (Aw)
  16. 16. Technology: audiomark • Auto transcribe all audio/podcast to audiomark format • Human editors to refine, tag, correct errors, link • Our website: provide for top podcasters • Their websites: embeddable • Index all audio/podcast
  17. 17. Mobile App • Start as podcast app • Search not just episode titles, but from our fully index • Share short chunk(s), playable quickly via our website/app • Reply with audio • Favorite a chunk (a highlight) • Has accompanying text/notes, pictures, videos
  18. 18. Social Platform • Hear the news • Hear what your friends think about a topic, news • Re-cast, Reply, Repeat
  19. 19. • Gossip • VoiceMail • Quora • Audio Tweet • Short podcast news • Live talkshow
  20. 20. Market Size
  21. 21. Podcast Ads Revenue • Only 2% of digital ads market, but outpacing other forms • "If I fully monetize the show, I could make $2-4m per year." -- Tim Ferris
  22. 22. Bottom-up Estimation • Consumers • 103M Americans are weekly listeners • If 1% will pay x $5/mth = $60M • Capture 10% -> $6M • Ads, affiliate revenue also $6M • Podcasters • Global 850k • 850k x 12 x (1%x$300 +10%x$50+89%x$10) = $172M • Capture 10% -> $17M • Digital gifts also $17M • Total revenue $46m
  23. 23. 45% of podcast listeners enjoy more than $250,000 in annual household income
  24. 24. Behaviours
  25. 25. Trend: Shorter New listeners are more likely to give your show a try if it doesn’t eat up a huge chunk of their day
  26. 26. Market Research
  27. 27. Blinkist • Condensed reading platform for non-fiction • Has both notes (text form) and audio, with audio growing faster • 6m users (2018)
  28. 28. Audioburst • Organizing the world's audio • AI-powered listening experience • Search engine for audio news, which allows users to locate audio content within podcasts and other talk radio programs. • Index podcast/audio • Smart playlist with "short bursts"
  29. 29. Otter • $23m funding in 2016-2020 • Launched in early 2018 • Transcribe long-form conversations • In-house speech recognition • Diarization (speaker identity) • Otter 2.0 focus in team collaboration
  30. 30. Google Recorder • 60m downloads • Launch in late 2019 • Only Pixel phones • Only English • Offline transcription
  31. 31. YAC • $1.5m, 2019-2020 • Voicemail for slack • Backtrack app
  32. 32. Noted • Beautiful • $12/year for Pro

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