They’re read by the podcaster at the start of the episode and periodically throughout - an overall manual process.īut our source doesn’t think it’s all bad. Podcast advertisements are not targeted in the way other digital ads are. Perhaps the biggest opportunity within those “normal methods” is with advertising. It’s more of a long play of gaining that audience and then using the normal methods of either features or subscriptions or ads on the platform to then monetize on that audience.” The ad potential In the case of Spotify, I’m not sure if monetization is the main goal of the exclusivity. “ a lot more cost effective to buy exclusive rights to a certain podcast for a certain amount of time. There could be a lot of money spent around marketing and time to build up a podcast from scratch.” on top of that, you never know if it’s actually going to pick up and gain popularity. “The normal rate of producing a pilot which may be three to five episodes is going to cost a little over $100,000 dollars. Our source sees this strategy as too risky for podcasts. Interestingly, TV streaming services like Netflix and Hulu have increasingly approached the exclusivity strategy by producing their own content. If this is their main goal, then Spotify struck gold in 2020 when they signed a multi-year, $100 million deal with Joe Rogan, creator of the number one podcast in the world: The Joe Rogan Experience.Īccording to our source: “It was a very calculated and well-worth deal for Spotify.” “Spotify’s strategy is mainly to build audience, so looking for the biggest podcasts that are available out there and getting exclusivity with them so that they can build up the audience on Spotify for podcast listening.” Spotify’s podcast growth strategy has been focused on exclusivity rights. Post pandemic, the use of associated services such as videoconferencing are also on the rise, enabling companies such as Zoom to rise to the leader spot with some smart marketing. It seems there is no time like the present for creators to get in on the podcast trend, and streaming services are paying attention like never before. Since then, the number of podcast shows has quadrupled to more than 2 million and there are 48+ million total episodes. In 2018 there were just over 500,000 podcast shows and 18.5 million total episodes. it’s the golden age of podcasting where anyone who has thought about creating a podcast can easily create one.” I think right now is probably the best time to try and start a podcast and monetize. “I’d say right now is probably the height of it. Our first question was about where we currently sit on the trajectory of the podcast industry, and our source answered without hesitation:
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