With the latest highlights of podcasting stats, we can clearly see how the voices of podcasters can influence the future of the industry and where it will go in terms of growth. Just this year, in April, over 48 million episodes were aired by 2,000,000 podcasters in the US.
Needless to say, this number is still growing with an ever pressing question thanks to the growth of music streaming services like Spotify, Amazon and Apple Music.
Is there a future for new podcasters to grow their own voices? Let’s look into the topic.
What is Podcasting?
If unfamiliar with the exact term, podcasting a medium for distributing audio content, whether for corporate or individual. It usually consists of an episodic series of spoken words. In the early 2000’s digital audio files that a user could download to a personal device for easy listening were the norm.
However, with the growth of digital technology, streaming applications and podcasting services have provided a more convenient and integrated way to manage an abundance of data. Podcasting nowadays includes mainly downloadable vocal content that is stored on a data file, streaming service, the cloud, or website.
The Growth of Podcasting Channels
In the past decade, podcasting has created two great opportunities for content creators who have focused earlier on blogging and video content. There is now a chance for bloggers to eke out a living and grow their channels to fame. How so?
Advertising revenue through podcasting alone has been forecasted to exceed $1B in 2021. Podcasters these days can make money in various ways similar to Youtubers or Twitch streamers, through their commentary. One reason podcasts are growing is because of low consumer costs. Podcasting platforms like Spotify, Youtube Music, Soundcloud and many other music streaming platforms host new podcasters’ content that are free to download.
Usually recognized podcasters make money through sponsored content and commercial advertising in between their discussions. In many other cases, a podcast makes money as a business venture supported by some combination of a paid subscription model, advertising or product delivered after sale. While podcasting is not necessarily the source of revenue, it acts rather as a marketer for bloggers or video content creators.
The most popular podcasters
Thanks to popular talk show hosts and celebrities like Conan O’Brien and Joe Rogan, the engagement of meaningful and entertaining discussion about a particular topic or current event have become the norm. Needless to say, their appearance and fame on podcasts have boosted the need to listen to more vocal content throughout the years.
At the top of the Podcasting, chart is a channel called Over my Dead Body, which is leading Apple Music’s billboard for vocal series. The anthology series alone is a great example of how story driven vocal content is slowly taking over written content in popularity. Self-motivation, health, career and entertainment are at the forefront of podcasts. And the market demographics are still growing.
The growth of podcasting channels on streaming platforms can propel the growth of a larger audience, making room for new podcasters to share their thoughts and ideas. However, the barrier of entry is quite high, since the majority of the audience go to the top performers.
For new podcasters, the best course of action is to build and promote their podcast through various channels in a narrow niche through video and written content to build their brand.