2. WHAT IS A PODCAST? HOW DOES IT WORK?
Podcasting is the preparation and distribution
of audio files using RSS feeds to the computers
of subscribed users. These files may then be
uploaded to streaming services, which users
can listen to on their smartphones or digital
music and multimedia players, like an iPod.
There is no prescribed format, length or style
for a podcast. They may cover a range of
subject areas, but an episode often focuses on
one topic or story. Some podcasters read from
a script, while others improvise.
Podcasts are typically available as a series of
prerecorded talk-radio shows that users can
download to their computers or mobile
devices. Podcasters often publish episodes
on a regular schedule.
The cultural milieu supporting podcasting is
sometimes referred to as the podosphere, in
the same way the cultural environment of
blogging is called the blogosphere.
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3. HISTORY
Podcasting has been around since the
early 2000s
The first podcast Network appeared in 2005
Apple added podcasting support to iTunes
in July 2005
Today (2022), there are approximately 380
million podcast listeners globally
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4. HOW CAN
PODCASTING
IMPACT YOUR
BUSINESS?
engage your customers
create and foster trust
with your customers
you become a
knowledge expert within
your industry to your
customers
Build a community
around your brand
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5. CONS
PROS
Convenience- you can access a podcast
from anywhere via phone, computer,
tablet, etc.
Low Barrier of entry- you can record a
podcast on a smartphone and upload it to
a music streaming platform.
Revenue Potential- make money through
interruption marketing, subscriptions, and
leveraging the podcast towards other
products to support your brand
recognition.
Accessibility-slow internet connection
and those with hearing disabilities may
have difficulty consuming content
Finding an audience- finding an
audience is often considered challenging
unless you already have a following
return on investment time- it can take a
long time (if ever) to get a return on your
investment due to revenue-generating
difficulties and the time it takes to build a
community
6. PODCASTING
IN ACTION spend $1.74 billion dollars in podcast
marketing in 2023.
increase or keep the same advertising
budgets for podcasts
Podcast industry valuation of $4 billion
The number of US monthly podcast listeners
has grown from 9% in 2008 to 41% in 2001. Most
podcasts are listened to on music streaming
devices like Apple and Spotify. Apple and
Spotify have the lion's share of podcast
streaming today.
Because of the rapid growth in podcasting,
Marketers project:
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7. 5 PODCAST TRENDS
SHAPING THE MARKET
democratized media
sponsorships
subscription models
podcast distribution
metaverse
8. DEMOCRATIZED
MEDIA
Internet censorship is the limitation and
blocking of internet access. China is well-
known for its internet censorship. China also
has the largest number of imprisoned
journalists in the world.
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With new technology unfolding (blockchain,
for example), internet censorship will become
increasingly difficult as decentralized
applications emerge. That said, podcasting
will be streamed in new and emerging
methods because of the low barrier to entry.
9. SUBSCRIPTION
MODELS
Subscription models require charging a fee to
your listeners for premium content. This may
be extra access to services, products, and
consultations.
For businesses and entrepreneurs, the
subscription model method can generate
more income for valued content. In saying this,
fans can listen for free and enjoy additional
benefits from paid subscriptions.
As podcast usage continues to grow.
Subscription plans will further penetrate the
market.
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10. METAVERSE
The metaverse is a digital world where users
can interact with one another. This past year, a
concert was held virtually, which rendered
over 270, 000 attendees.
The digital world is upon us and that is no
different for the podcast market. Podcasts
shows held in a digital space can be utilized in
a myraid of creative ways but two common
ways are talk shows and listening to the
podcast while exploring digital worlds or
relaxing in your digital space.
11. SPONSORSHIPS
As podcast usage and popularity grows,
marketers will continue to sponsor products
through ad space and interrupting marketing
tactics. Therefore, depending on your fanbase,
the ease with which one secures podcast
sponsorship will increase as popularity ensues.
Much like large brands collaborate with social
media influences to promote products, large
corporations will look to podcasters to
promote products based on listener
demographics.
.
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12. PODCAST
DISTRIBUTION
Podcasts are distributed primarily through music
streaming applications like Apple, Spotify, and Amazon
Music. However, podcasts can be streamed through
personal websites and self-designed applications. The
possibilities are endless; however, this will lead to
increased difficulty in getting your podcast heard due
to increased volumes of market participants.
Therefore, automation software and workflows may
create competitive advantages for speedy industry-
standard-produced podcasts. As technology grows,
distribution methods are expected to evolve to engage
the viewer and maintain constant connectivity.
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13. conclusion
Podcasting means having your voice heard by an audience that is willing to
listen. Its purpose is used subjectively for the objective of its creator, but the
overall means by which an audience is engaged remains the same. The
engagement method to be understood is that of value. The more value a
viewer receives from the podcast, the more engaged they will be.
Because Podcasting is relatively new, the room for growth is substantial. As
previously stated, more advertising budgeting will be allocated towards
podcast marketing tactics due to expected growth rates in revenue
throughout the coming years. As technology evolves, the future possibilities
of this social media trend are endless as media democratizes over the
internet. Although podcasting is a new marketing method, classical
marketing theories apply.
14. references
Bezbaruah, S., & Brahmbhatt, K. (2022). Are Podcast Advertisements Effective? An
Emerging Economy Perspective. Journal of International Consumer Marketing, 1–19.
https://doi.org/10.1080/08961530.2022.2085222
Blubrry Podcasting. (2021, April 26). History of podcasting.
https://blubrry.com/manual/about-podcasting/history-of-podcasting-new/
Miksen, C. (2017, April 4). The Disadvantages of Podcasts in Businesses. Small Business
- Chron.com. https://smallbusiness.chron.com/disadvantages-podcasts-
businesses-34095.html
Ruby, D. (2022, November 21). 39+ Podcast Statistics 2022 (Latest Trends & Numbers).
Demandsage. https://www.demandsage.com/podcast-statistics/
Sowa, A. (2022, January 9). Top Podcasting Benefits for Entrepreneurs. Entrepreneur.
https://www.entrepreneur.com/growing-a-business/top-podcasting-benefits-for-
entrepreneurs/402682