The past 12 months have seen a serious shift in the way people view the podcast landscape. It’s developed from a somewhat unfashionable medium into serious business. Media companies including - Nine, News Corp, Pedestrian, Southern Cross Austereo and Nova are all tossing their hats in the ring, chasing the next red-hot medium and the potential ad dollars it promises.
In fact, Southern Cross Austereo’s, Grant Blackley, states “podcasts are on the same trajectory as SVODs. We’ve seen an explosion in consumers appetite for video on-demand with Netflix and Stan, and people are hungry for personalised audio they can listen to, how and when it suits them”.
The last 12 months have marked an unprecedented level of acquisitions, deals, analytics and launches, as increasing interest from consumers has turned the podcast into a very sought-after medium.
Mamamia is one of the biggest-grown podcast networks in Australia, racking up nearly 40 million downloads across its multiple shows in 2017 – that’s a growth of more than 306% year-on-year.
29% of Australians have listened to podcasts and that figure only continues to rise – so too, the marketing opportunities that the medium presents. But why are podcasts so popular?
It’s inherent accessibility.
The opportunity cost of seeing the podcast playground explode - the landscape is becoming more saturated and entangled, simply taking the approach of recording and hoping for the best may not be enough. With so much competition in the market, your podcast isn’t going to be well-produced, it will struggle.
On the other hand, the rise in interest towards podcasts from brands comes down to its increasing availability of podcast data, growing listenership, more vehicles with on-demand audio and the proliferation of audio assistance devices. The arrival of voice-activated devices like Google Home and Amazon Alexa is also expected to further accelerate the explosion in podcasting and more broadly, audio-on-demand in 2018.
Stay tuned - the podcast landscape is one to watch.