NEW YORK • Podcasting is in a candy spot, with music streaming large Spotify just lately investing US$1 million (S$1.37 million) in a podcast hosted by actress Amy Schumer.
In lower than 15 years, on-demand podcasts have grow to be a key a part of the media panorama. According to Edison Research, 124 million Americans hearken to audio podcasts, together with 73 million on a month-to-month foundation.
“Podcasts are now getting to the point where they sit alongside other forms of premium media like video, books, television and music,” mentioned Mr Matt Lieber, a co-founder of Gimlet Media, a significant podcast producer.
“The Financial Times has a person on its staff who reviews podcasts. It’s almost like if you’re not listening to podcasts, you’re out of the loop.”
Podcasts are a pure match for a era used to on-demand providers equivalent to Netflix. Listeners are youthful and higher educated than the typical radio listener, with extra ladies within the combine, creating a vital demographic for advertisers.
Mr Neal Carruth, common supervisor of podcasts for National Public Radio (NPR), mentioned: “Large brand advertisers have become more interested in recent years. They’re very attracted to the age of the podcast audience… to their intelligence, education and professional accomplishments.”
NPR, one of many earliest entrants in podcasting greater than a decade in the past, has about 17 million listeners to its podcasts equivalent to Planet Money, Fresh Air and Ted Radio Hour.
Most of the estimated 500,000 podcasts produce little or no income, however high ones can generate hundreds of thousands of a yr, mentioned Mr Erik Diehn, chief government of podcast promoting agency Midroll Media.
Some are rolling out a subscription mannequin, like Midroll’s Stitcher platform, which affords “premium” podcasts for US$four.99 a month.
Other fashions enable entry to numerous podcasts totally free, with paying prospects getting extra.
As podcasting turns into extra in style, some are attracting large stars and providing tie-ins to movie and tv programmes.
Gimlet created the ABC TV present Alex Inc, starring Zach Braff, based mostly on one in every of its podcasts.
New Amazon present Homecoming, starring Julia Roberts, is linked to a Gimlet podcast too.
Podcasting is especially suited to the smartphone era and is prone to develop with elevated use of linked units.
“Right now, we’re spending a lot of time thinking about how our work should be presented on connected speakers, in connected cars and other technologies that are here with us, but maybe haven’t evolved to their final state yet,” mentioned Mr Carruth.