To identify 2-3 additional key emerging trends expected for podcasts in general such as predicted disrupters, consumer behaviors or any other trends which may impact the space in the coming years.
1. Discovery is Driving Consumption
- Podcast content "based on specific interests of the listener has been notoriously difficult to find." Discovering new podcasts were often either a result of recommendations on the iTunes podcast platform, hearing about it from a current podcast, or word-of-mouth.
New shows typically have "low to no budget to spend on marketing and rely heavily on word-of-mouth alone."
- Technology companies that are hosting and distributing podcasts, such as Stitcher, Castbox, iTunes, and Google Podcasts, are paying more attention to discovery.
- Google Podcast is taking a different approach, instead of competing with all the other platforms who go after regular podcast consumers, they are trying to "reach the 56% of Americans who have never listened to a podcast."
- Google Podcast is approaching discovery through its search engine. Android users are not required to download their podcast app as they can use Google's search engine to look for content on their mobile phones. Google's preloaded discover tool will give relevant results including related podcasts that can be listened to from the search results.
- This tool aims to provide consumers with content that’s most relevant to them and will be useful for emerging shows that may be difficult to find.
2. Future Of Podcast Monetization
- "Podcast companies and creators are getting more creative with how they generate income from shows.
One revenue channel is hosting live podcast shows, where the audience gets to sit in on a recording.
Live podcast shows can bring in a significant amount through ticket sales.
- One example of this was the JTrain Podcast, which recorded many of their shows live and sold out venues across the US.
- "Derivative content such as television shows, film and books are also driving additional revenue to podcast creators as well."
- Podcasts such as "Lore and Serial have struck deals worth millions with networks like Amazon Prime and HBO in recent years."
- For this hour, we were able to identify 2 additional key emerging trends expected for podcasts in general which may impact the space in the coming years.
- We also came across some additional insights on the demographics of US podcast listeners, which might inform strategy.
We also came across insights on Cosmetic Surgeon Marketing in general, which might also help to differentiate from other podcasts focused on plastic/cosmetic/reconstructive surgery and identify who are typically interested in these procedures.
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