Wokay Podheads, this is a long one.
Datawatch
Westwood One released its Podcast Download – Spring 2019 Report, and there are a ton of insights in the report.
Highlights:
Spotify and Google Podcasts are attracting consumers who recently began listening to podcasts
A stunning 67% of “Power” podcast listeners (those who listen to 5+ hours per week) follow their favorite podcast hosts on social media
Podcast listeners equally use Facebook, Instagram, Twitter, and YouTube to follow their favorite hosts
Podcast ads are the least likely to be skipped among all media
Podcast promotion on AM/FM radio is being noticed
The number of podcasts being promoted on AM/FM radio is skyrocketing
The topic and area of interest covered in a podcast is what attracts listeners
Westwood One Podcast Network offers growing audiences diverse programming options
Some interesting slides:
Also, check out this conversation of Pierre Bouvard, Chief Insights Officer of Westwood One with Steven Goldstein of Amplifi Media.
Apple watch
This is a big one. A lot of folks had been expecting this for a long time and looks like it’s happening. Lucas Shaw and Mark Gurman of Bloomberg on Tuesday broke the news that Apple is looking to fund original podcasts 😱.
Apple has refrained from funding podcasts thus far to avoid the perception of playing favorites. But the tech giant has evinced an interest in funding some of the programming it distributes. The company is producing dozens of original TV shows and movies for a new video service called Apple TV+. The first of those series will debut later this year.
Apple, for a long while, has played the role of an impartial steward, given its centrality in the podcasting ecosystem. But perhaps, it couldn’t remain so given Spotify’s aggressive moves in podcasting. Spotify, since the beginning of this year has poured millions in acquiring Anchor, Gimlet, and Parcast. It has also made a number of changes such as opening podcast submissions and redesigning the app to make podcasts more prominent.
Then there is also this:
Based on radio industry data, we believe it is a safe assumption that, over time, more than 20% of all Spotify listening will be non-music content. This means the potential to grow much faster with more original programming — and to differentiate Spotify by playing to what makes us unique — all with the goal of becoming the world’s number one audio platform. - Daniel Ek, CEO Spotify
The Spotify stock took a beating this past week since the news broke.
Maybe this isn’t such a big surprise if you consider the reports that Apple was considering some sort of partnership with iHeart Media. The article states that Apple is considering content exclusive to it’s platform. So, I’d advise some caution before jumping to any conclusions and wait for more clarity on this development. As you’d expect, I shall keep my entire face to the ground for any developments.
There and back again
Last month, Tim Ferris had announced a six month experiment where he would remove all ads from the show and seek listener support. Well, the experiment came to a rather abrupt end last week. Tim is going to back to the ad-supported model.
So, what did I learn?
The entire experience has been very surprising. For one, many of my assumptions were totally off.
It turns out that most of my listeners have a strong preference for an ad-supported model compared to other options. Many folks have come to use the podcast and 5-Bullet Friday for discovering new products and services, and that has been reflected in the comments since launch. After weeks of consistent feedback from my audience, it’s now loud and clear that my vetting and sharing of sponsors is better received and a better fit.
Here we go again!
The New York Times, last week ran a piece titled “Have We Hit Peak Podcast?”. Thank god the title at least didn’t contain the word “bubble”. Anyway, I refuse to comment on this because it’s largely pointless and a waste of energy. Predictably, podcasters took umbrage:
And here’s the customary insightful take by Tom Webster.
Across the pond
Wondery and Stitcher have formed a partnership to capture a piece of the UK market.
The U.K.’s podcasting ad landscape is small but growing. In lieu of official ad spend numbers, industry sources estimate it’s in the region of £10 million ($12.5 million), a drop in the ocean compared to the£383 million ($479 million) that U.S. marketers spend, according to figures from the U.S. IAB and PricewaterhouseCoopers.
New dollars
Sara Fischer of Axios wrote an interesting piece on the rise of podcast events.
The number of events that have sold based on podcasts has increased by over 2000% in the past six years, according to ticket sales data from Vivid Seats, one of the largest independent ticket vendors in North America.
Why it matters: Live events offer podcasts the opportunity to monetize outside of audio ad revenue, which is growing but still pretty small compared to radio ad revenue.
Inside voices
Steve Pratt of Pacific Content wrote about the increasing popularity of internal podcasts. I think this is a really interesting emergent trend in podcastland. Given that today’s companies operate across multiple geographies and also the popularity of remote workers model, internal podcasts are, in my opinion, a really powerful way of communicating.
Spotify watch
This is a very interesting development. Spotify last week announced a partnership with Disney.
Ever wondered if you’d one day be able to find the music of your favorite talking animals, courageous princesses, and adventurous superheroes all in one place? With Spotify’s new Disney Hub you can find all that—and more—right from the search bar.
Dreams really do come true.
Starting July 17, users in the U.S., U.K., Ireland, South Africa, Canada, Australia, and New Zealand can search “Disney” on Spotify to find a designated hub for the music behind some of their favorite Disney movies and TV shows. Stream playlists full of everything from The Little Mermaid to modern favorites like Frozen, to Star Wars instrumentals, and even Marvel movie soundtracks.
I get a feeling there’s more here than meets the eye. Will dig into this.
Also read: Spotify Needs To Scale Its Ad Business. Can Podcasts Fix The Problem, And If So, How? - Murray Stassen/MusicBusiness Worldwide
Five Times Spotify Has U-turned on Its Content Strategy - Tim Ingham/Rolling Stone
Data hungryyy!
Nielsen is getting into the podcast data collection business. Given the ever-increasing clamor by advertisers for more accurate data on podcast consumption, this is indeed a logical move. iHeartMedia, Cadence13, Midroll-Stitcher's advertising arm, Westwood One and cabana have already signed up as charter clients.
Moolah watch
Substack, the awesome newsletter platform which powers The Podtalk Newsletter has raised a $15.3 million Series A round led by a16z.
We know that Silicon Valley venture capital and the media have often not mixed well, but we are committed to getting this right. We have a business model that works and that aligns our incentives with the writer’s. One of our founders, Hamish, is a journalist and author himself. We will never build ad tech into Substack, and we know that the media can’t be saved by algorithm. This Series A will help us to make substantial investments in our product, team, and network of readers and writers. It will allow us to build critical infrastructure, from get-togethers to fellowships, to help writers succeed and readers get the best possible media experiences. And it will let us continue to democratize the tools that writers need to create independent businesses.
Also read: We’re at Peak Newsletter, and I Feel Fine
Patreon raised a $60 million Series D round led by Glade Brook Capital.
Bytes
‘Inception’ Star Joseph Gordon-Levitt To Host Podcast About The Creative Process With Cadence13 - Peter White/Deadline
From hit podcast to best-selling graphic novel, The Adventure Zone has become a cultural phenomenon - Daniel Menegaz/Entertainmaent Weekly
‘Pod Save America’ Producer Crooked Media Hires Netflix Exec Sarah Geismer to Head Development, Production - Todd Spangler/Variety
Audioboom Opens New Studios and Expands Podcast Production Operation - Audiobbom
Podcasts Are Getting Shorter - Megaphone
Mediawatch
The Guardian’s Chief Revenue Officer Hamish Nicklin on sustainable journalism and fair advertising.
Licence fee: BBC could become a subscription service, says director-general - Matthew Moore/The Times