It doesn’t come as a surprise that the popularity of podcasting is at an all time high in 2016. With a population that’s becoming increasingly uninterested in reading, the convenience of audio is booming. Podcasting has risen to amongst the most popular forms of content, with 17% of the American population having listened to a podcast in the past month. That’s approximately 55,100,193 listens each month, with the number growing rapidly. In 2014, the number was 47,917,295, and in 2013, 37,775,935.
Consumption is Easy
Podcasts have never been so accessible with the emergence of the mobile industry. According to Libsyn, 63% of their 2.6 billion downloads were from a mobile device. This has lead to an increase in listening ‘on the go’ as it’s easy and convenient to listen while on your commute, during your workout, or even while you’re at work. The market for podcast apps is incredibly broad, making selection difficult sometimes. But it’s better to rather provide listeners with more than enough choice than not enough.
Production is On Par With Radio
Whether it be by the equipment used in a professional studio, in house editors who produce, or professional production companies like We Edit Podcasts who take care of everything post recording, overall audio quality is on the rise. This is something that’s almost expected now as radio listeners switch across to podcasts. Listeners have gotten so used to the professional radio sound that poor quality audio can stand out like a sore thumb.
Podcasts are Making More Money
As notoriety increases, so does incoming revenue. Podcasts have some of the highest CPM (cost per mille, or cost per 1000 listens) at $20–45 (giving a higher peak than the Super Bowl and Academy Awards; Forbes) but some are generating revenue upwards of $100. There’s a ton of opportunity for profitability available to podcasters that has yet to be realized. We can all expect to see an influx in podcast sponsorship and advertising.
It’s a Recognized Resource
Professionals and those who are experts in their respective fields are moving towards podcasts over blogs to share knowledge and push their products. Even more than being just convenient for the listener, the ease of talking over writing for the podcaster provides a fast and efficient platform for professionals to distribute their content.
Number of Total Podcasts on the Rise
In 2014 we saw an estimated 2.6 billion podcast download requests, a number that could only have grown since. It is widely speculated just how many active podcasts exists. Some put the number at 180,000, others as low as 115,000. Either way, the industry is growing and will almost surely exceed the 200,000 mark within a year.
Streaming Rather than Downloading
The increase in mobile usage directly corresponds to an increase in streams over downloads. This is ideal for podcasters who are inserting advertisements as there’s no longer need to rely on host read advertisements. Podcasts can tailor these advertisements based on the listener’s age, gender, and location in real time, rather than altering an already downloaded file, which is technologically complex.
Conclusion
Now is definitely a hot time to jump on the podcasting bandwagon, if you aren’t already there! You will continue to see steady, even exponential growth in the podcasting industry this year. Don’t blink, you might miss it!
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Referrences:
Journalism.org
myndset.com
