The Podcasting Industrial Complex Is Maturing
Podcasting is no longer a scrappy little industry of hobbyists, it's gone mainstream and is evolving.
Podcast expert and partner at Sounds Profitable, Tom Webster, put out a blog post on the 17th of September talking about how podcasting is growing up and with that the industry needs to evolve or get left behind.
He writes:
Our latest Podcast Landscape study, fielding responses from over 5,000 Americans, reveals an industry that has matured in ways both promising and concerning. The topline numbers look healthy – weekly consumption has ticked up to 38% from last year’s 37%, and we’re seeing consistent growth across key metrics. But dig deeper into the data, and you’ll find an industry grappling with the same growing pains that have impacted other media in the past.
More people are listening to podcasts than ever before, but there are also more podcasts out there than ever before.
Tom points out that that organic growth has slowed and it's become a more mature market with more competition for ears and eyeballs. Since there are so many shows to listen to it's become a matter of time for what shows get attention.
Tom writes:
When we asked consumers why they’ve reduced their podcast listening, the leading cause was time constraints. Yet our data also shows that weekly podcast consumers are actually spending slightly more time with the medium – 6.3 hours per week versus 6.0 hours last year.
This paradox reveals something crucial about listener behavior. People aren’t actually consuming less audio content – they’re making more deliberate choices about what deserves their attention. The casual listener who might have sampled multiple shows is being replaced by the engaged listener who follows fewer shows more consistently.
So What Does This Mean For Marketers?
I talk to so many marketers who want to build up their brand with podcasts. No joke, it's a daily occurrence.
So what does this maturing mean for them?
In my opinion, podcasting is a great medium for both individuals and companies to invest time and money. But budding podcasters need to do it strategically and with a clear plan.
Think about these things:
- Format (Solo, Co-host, Interview, Story-Driven, etc.)
- Cadence (How many shows a month)
- Type of show (Seasonal or Ongoing)
- What type of technology do you need (microphone, mixer, streaming platform, editing suite, lighting, webcam, etc.)
Having these and other strategies and items planned out ahead of time will help avoid the dreaded pod-fade.
Another big elephant in most rooms where I talk about podcasting or with my coaching clients is how to make money to afford to do podcasting.
Here we go...
Don't look to make money ON your podcast, but instead focus on ROI AROUND your show. Use your podcast as a marketing tool, not a direct driver of revenue.
Time and time again I tell people who want to be the next top podcaster in a genre that it's probably not going to happen. They should focus on quality content and getting a core audience for their show, don't try to be the next Mel Robbins out of the gate – or EVER! Mel came with a built in audience from other endeavors. You're, most likely, starting from scratch.
Remember focus on quality OVER quantity!
Oh, Did I forget... Time Is Finite
Tom talks about the "Time Paradox" and we're not talking about time travel. 🤪
Guess what? This "Time Paradox" is a real thing!
Marketers and individuals need to think outside of the box about how they use their content and how to best utilize the finite time we all have so that their audience prioritizes their content someone else's show.
Just because an audience group isn't fully listening an one-hour podcast doesn't mean that the show is a waste.
Podcasters can, and should, use the content to clip out key moments to promote on social media. Heck, here's an idea! Write a blog post that highlights key topics and discussion points and link back to the show recording.
Podcasting Is A Content Play
Podcasting is a very dynamic content play. It's not black and white. Treating it as such will hinder any growth potential. Treat it as something constantly evolving and you'll see success even if you don't reach the heights of a Mel Robbins.
What do you think? If you're a premium subscriber post your thoughts in the comments!
🎙️Podcast Coaching 🎙️
I've been podcasting since 2010. During those 15+ years I've learned a thing or two about the ins and outs of the industry and approaching it the right way. Both as a guest and as a host.
I offer podcast coaching as a service to share the knowledge that I've accumulated over the decade-plus in the industry.
Intrigued? Let's chat and see if I can help you!
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