Updated: Apr 3
Just how big is the industry?
Spending is believing, and companies are spending more than ever on podcast ad revenues.
Spotify just reported that in Q2 2021, ad revenue from podcasts increased by 627%! Yes, we had to rub our eyes too just to make sure this number that fell on our radar was correct. The result is that there are also more podcasts out there than ever, seeking to earn a piece of the ad spend.
Several non-audio creator platforms are seeking to lure in podcasters to get in on the action. Take Substack, for example, which also happens to be the wonderful platform we distribute the Spark! with Shereen newsletter through. The platform recently financed a podcast network called Booksmart Studios in efforts to beef up its podcasting game. I mean, with heavy-hitters like Spotify, Amazon, and Apple Podcasts making acquisitions and investing in original shows left, right, and center – they’d have to put their money where their mouth is to provide any kind of relevance in the space.
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What about the content creation process?
For those of you looking to create audio content but are a little strapped with resources to create fresh content, you can go about it by recycling old content. Take a tip from the NBA, for example, who are introducing a new podcast series (in partnership with iHeart Media) titled NBA Jams, which utilized archived audio clips.
Facebook must be jealous of how easy Spotify has made it for creators to build podcasts through Anchor, so it recently has rolled out a bunch of new podcast tools to make creators’ lives easy too.
Newsletters and podcasts do come hand-in-hand
After all, even we distribute newsletters alongside podcast episode releases – you know, to spread the word and all. But that being said, other companies in totally non-traditionally sub-segments of the content/ media space seem to be looking to enter podcasting. Take WordPress and Tumblr’s partner company, Pocket Casts, who’ve just bought Pocket Casts, a podcasting service.
But, I mean, how big of a squad does it take to create podcasts?
As creators of podcast content ourselves, we’re here to tell you that you do require the right set of skills to get it done well. Netflix knows this, and has recently scouting former Apple and NPR podcast veteran N’Jeri Eaton to manage its upcoming slate of podcasts (all related to its own original TV show and movies). In fact, Netflix is investing heavily in publishing as a whole, as it builds an entire division to drive podcasts, social media, and print (yes, we giggled at the last one on this list too, but hey!). Then again, Netflix is also investing heavily into gaming, but we’ll save that deep dive for another post.