As we step into the new year, the sky is the limit for the future of podcasting. With growing podcast listenership, emerging audience segments, and new monetization opportunities, the future looks bright for podcasting. However, with so much opportunity, it’s hard to tell where the rapid growth of podcasts, especially branded podcasts, will go next.
Nasreen Stump sat down with Casey Cheshire on Creating The Greatest Show to discuss what podcast trends she sees emerging in the coming year.
Trends (Jump to)
- Podcast Video: The Next Frontier
- Podcasts Grow as a Vital Content Resource
- Improvements to Measuring and Reporting Podcast Statistics
- Twitter Spaces as a Channel to reach Highly-Segmented Markets
- What B2B Marketers can Learn from Twitch Creators
Podcast Trend 1: Podcast Video: The Next Frontier
Last year, Spotify extended the ability to upload video podcasts to the platform through Anchor to podcasters around the world. As one of the largest audio platforms globally, this move by Spotify is a sign of how many people consume podcasts by watching them.
As intimate a setting as audio-only podcasts have been, the addition of video creates an even stronger connection between the host and the audience. Video lets the audience put a face to the voice they love listening to and pick up on all of your non-verbal communications.
Spotify isn’t the only platform that sees the value of podcast video, YouTube has recently invested significant resources into creating a version of its platform that prioritizes podcasts.
A massive issue for podcasters when trying to build an audience is podcast discovery. YouTube is the 2nd largest search engine on planet earth and with its pro-podcast focus, it should make finding new podcasts much easier for podcast listeners.
YouTube’s interest in podcasting is also significant because more and more video results from YouTube are being served among the results of Google Search queries. With Google being the top search engine, this again speaks to the increased visibility podcasters who upload video should experience this year.
READ MORE: Repurposing Podcast Video Content
Podcast Trend 2: Podcasts Grow as a Vital Content Resource
With the impending recession top of mind for those setting budgets for 2023, it should be no surprise to see marketing budgets shrink. However, the expectations put on those marketers won’t shrink and they will be asked to do even more with their now decreased resources to pull from.
For those marketers, podcasts will become an invaluable resource for two reasons.
First, podcasts are a great way to learn about a specific topic. For example, Glen Schmelzle’s Funnel Reboot Podcast provides cutting-edge tips for marketers to improve their digital marketing tactics and toolsets.
Second, podcasts are a treasure trove of content that marketers can repurpose endlessly to engage with their audiences. Whether the podcast is their company’s or not, sharing clips, takeaways, and anecdotes is easy and brings in tons of engagement.
Podcast Trend 3: Improvements to Measuring and Reporting Podcast Statistics
Today, the world of podcast analytics and statistics is like the wild west, albeit with fewer 12:00 pm timed duels in the street. Despite IAB assuming the archetypal role of the sheriff, there aren’t universal practices or standards when it comes to measuring a podcast’s reach. IAB is the first to admit that many podcast hosting platforms are either not certified with them or have let their certifications lapse.
For the advertisers pouring excessive amounts of money into podcast advertising, this lack of reliable reporting for podcasts is unacceptable. However, though they are working with spotty metrics, the immense demand from advertisers means that brands are paying more than ever for their podcast ads without actually knowing the full reach of those ads.
Larger podcast networks like iHeartMedia are turning away brands because their, considerable ad budget is not enough for the network to even consider. In cases like this, it actually becomes cheaper for brands to sponsor their own branded podcast than it is to advertise on other shows.In the coming year, expect to see a major player emerge as the authority on podcast metric reporting. This could be IAB, but they have left the door open wide enough for a competitor to come in and make some real changes, such as Edison Podcast Metrics.
Podcast Trend 4: Twitter Spaces as a Channel to reach Highly-Segmented Markets
Twitter Spaces presents creators with an amazing opportunity to establish and grow their audience while also posing a big risk if the feature is discontinued.
Twitter Spaces is a way to connect with others using live audio streams that anyone can listen in to. Creators can stream themselves talking or host conversations featuring cohosts that they select. Conversations on Spaces are featured in prime real estate at the top of Twitter feeds both on desktop and in-app.
As social media platforms are known to do, early adopters of the Twitter Spaces functionality are incentivized to use it, and their content is being prioritized within the Twitter algorithm. This is why the feature is so appealing for creators, especially those just starting out because this is a fantastic way to kickstart their audience building and reach a wider array of people.
The drawback with Twitter Spaces lies within the fact that the behind-the-scenes at Twitter is a bit of a mess and much of the team behind this feature was let go. This is not a promising sign for a new feature on one of the biggest platforms on the planet and the future of Twitter Spaces is unclear. Twitter Spaces is, on the whole, similar to Spotify Live, a live audio feature that Spotify has deprioritized and cut spending on for internal content creation although some creators continue to use it.
Podcast Trend 5: What B2B Marketers can Learn from Twitch
Breaking news: most B2B content is horrendously boring. OK, maybe that’s not as much news as it is a well-known fact amongst B2B marketers and content creators.
However, I’ll let you in on a little secret: B2B marketing DOESN’T have to be boring. Sorry, I should have made sure you were sitting down before I shared that shocking revelation. B2B marketing can be engaging, entertaining, and educational. To see how we need only look at the Twitch creators that captivate large audiences live while playing games, sharing knowledge, or any number of other activities.
They are able to keep things fresh and fun because they understand their audience and what their audience wants out of their content.
Twitch streamers also have great production value because they understand the value of their video content and what they can later do with it. Their videos look great because they see the value of it and have invested in the right gear.
READ MORE: The Podcast Gear You Need To Get Started
What’s It All Mean?
It’s hard not to be excited about what’s next for podcasting. Even with as much as the medium has grown over the last decade, we’re still just at the beginning. Don’t miss out on the fun, start your own podcast today!