In case you haven’t already seen, last month we released our first end of the year report, presenting a panorama of the current audio industry. Among the topics covered, we looked at what we believe to be some of the key trends for podcasting in 2019. Read on to discover our 5 top predictions for the year ahead:
1. Podcast Advertising Goes Mainstream
As more podcast hosting platforms, including Voxnest’s Spreaker, undergo the extensive and expensive verification for the IAB v.2 Podcast Metrics Guideline certification, advertisers’ confidence in podcasting will grow.
Armed with analytics that show real, growing ROI, 2019 should be a breakthrough year where more big brands turn to the medium to reach and engage audiences. Meanwhile, as the year progresses, the emphasis on audience metrics as the competitive feature that business models are built on, the industry can get back to competing based on the quality of the content.
2. More media companies Pivot to Audio
Following disappointing returns on their Pivots to Video, we project the relative ease and much lower cost of podcast production will bring more non-audio content publishers such as newspapers and magazines onto the podcasting bandwagon. The Washington Post is already paving the way, with a library of 14 original shows including its most ambitious yet, a 20-minute daily news podcast called “The Post Reports.” And showing their belief that the medium is a revenue driver, the media company has developed its own ad insertion technology, Rhapsochord.
“If your newsroom is not doing podcasts, pitch it like an experiment or an innovation project, find allies in terms of colleagues interested in doing a podcast with you and start slowly building your audience.”
Dávid Tvrdoň, head of podcasting at SME, Slovakia’s largest news media organization
3. Fictional Storytelling Podcasts Increase in Popularity
While 2018 saw bigger producers focus on fictional storytelling, 2019 will see these types of productions grow even faster, with the release of more independent productions from smaller podcasters.
While the more traditional, reality-based podcast production will remain popular, it’s this upsurge in fictional podcasts that will bring new excitement to the medium and new podcasters into the fold.
4. Large Distribution Platforms Compete for Market share
2018 saw Spotify successfully enter the podcasting space, and that resulted in solid growth of their market share. With other players now getting in the game including Google and Pandora, the field will become more competitive. With Apple’s de facto dominance in the space, Google has the highest hurdles to overcome as listening on Android continues to lag far behind. Their biggest opportunities lay in adding support for Google Podcasts in Chrome browsers and creating a full native Android app that can provide a listening experience on par with that of iOS.
5. Podcasting gets its Own Global Trade Association
While an attempt to form an organization 10 years ago, The Association of Downloadable Media (ADM), was unsuccessful, the industry’s maturation and increasing complexity warrants a second try. With a “big tent” organization that takes the needs of all stakeholders into consideration and collaborates on standards and best practices, we can accelerate our growth – both from the listening and the advertising sides of the industry.
To get a complete overview of the current podcast market, follow this link: