James Cridland, Podnews
In the last 30 days, 327,582 total podcasts have been uploaded online. The average episode only gets 31 downloads in its first seven days.
Spotify has just cut 200 podcasting jobs. “This was a mistake,” James Cridland mentioned. Spotify had not anticipated the rise in audience interest towards podcasts. YouTube Music, however, plans to launch podcasts in the United States by the end of 2023. This is because now, on-demand audio is much more popular than live audio such as radio.
How can we adapt to this? Firstly, make content people want to hear. Since 2015, the number of people listening to podcasts have increased greatly each year. This means the longer people listen to podcast episodes, the more advertising attention it attracts, and this means the more opportunities for podcasts to connect with brands.
Secondly, focus more on listener engagement. Comparing two of the biggest audio streaming platforms, Apple Podcasts garnered 28 episode requests per listener in January 2023 as compared to 3 requests for Spotify.
Third, embrace the unique nature of open podcasting. The introduction of RSS does not hinder the evolution and success of podcasts.. Instead, the true disruption are platforms that scorn open podcasting. For example, companies such as Youtube Music and BBC block podcasts from open podcasting app. Certain Danish radio stations which don’t allow open podcasting even redirect certain podcast episodes to their own applications. “This is not the right plan,” James Cridland commented.
Lastly, working together. Industry professionals must look forward to sharing ideas and open discussion to help each other navigate the ever-evolving trends. Events such as Radioday Asia will only help industry experts progress and succeed.