The 3 Biggest Podcast Trends (for 2019!)

TL;DR

Podcast monetization, competition, and analytics are evolving rapidly.

Transcript

• In this clip, we're gonna talk about the three biggest podcast trends for 2019 and beyond, but before we do, don't forget, if you love stuff on marketing, business, entrepreneurship, don't forget to subscribe to this channel, wherever you are coming from. The very first thing that's gonna happen is, podcast monetization is going to improve. Now, ... Read More

Key Insights

• Podcast monetization is set to improve with new platforms like Spotify and Google entering the market, challenging Apple's dominance.
• The U.S. podcast market is growing rapidly, projected to reach $610 million, while China's market is already at $3 billion.
• Different monetization methods, such as subscriptions and donations, are being explored to reduce reliance on disruptive ads.
• The podcasting landscape is becoming more competitive with Spotify's investments in Gimlet and Anchor, aiming for podcasts to constitute 20% of their revenue.
• Chinese companies like Ximalaya and Himalaya are entering the podcasting arena, offering new monetization strategies for creators.
• Apple's lack of innovation in podcast analytics is allowing competitors to catch up, but they are aware and planning to improve.
• Current analytics tools like Chartable provide valuable insights on podcast performance, including trends and attribution data.
• Podcast creators are encouraged to experiment with platforms like Anchor to take advantage of the evolving podcasting environment.

Questions & Answers

Q: How is podcast monetization expected to change?

Podcast monetization is expected to become more diverse and less reliant on traditional advertising. With platforms like Spotify and Google entering the market, new monetization methods such as subscriptions, donations, and direct sales are being explored. This shift aims to reduce the disruptive nature of ads and offer creators more revenue streams.

Q: What is the current state of the podcast market in the U.S. compared to China?

The U.S. podcast market is experiencing rapid growth, projected to reach $610 million. However, it still pales in comparison to China's market, which is already valued at $3 billion. This disparity highlights the potential for growth in the U.S. and the diverse monetization strategies employed in China.

Q: Why is competition increasing in the podcasting industry?

Competition in the podcasting industry is increasing due to major investments by companies like Spotify, which has acquired Gimlet and Anchor to enhance its podcasting capabilities. Additionally, new entrants like Chinese companies Ximalaya and Himalaya are introducing innovative monetization strategies, challenging established players like Apple.

Q: How are analytics expected to improve in podcasting?

Analytics in podcasting are expected to improve with the development of tools like Chartable, which provide detailed insights into audience behavior, trends, and attribution data. These improvements will help creators better understand their audience and optimize content. Apple's current analytics offerings are limited, but they plan to enhance them to remain competitive.

Q: What is Spotify's strategy for podcasting revenue?

Spotify's strategy for podcasting revenue involves making podcasts 20% of their overall revenue. They are investing heavily in the podcasting space by acquiring companies like Gimlet and Anchor, which will help them produce creative content and offer tools for quick podcast production. This focus on podcasting is driven by the higher margins compared to traditional music licensing deals.

Q: What role do Chinese companies play in the podcasting market?

Chinese companies like Ximalaya and Himalaya are entering the podcasting market, bringing new monetization strategies that have been successful in China. These companies are offering creators alternative ways to profit from their content, such as subscriptions and donations, which could influence the global podcasting landscape and challenge established players.

Q: What challenges does Apple face in the podcasting industry?

Apple faces challenges in the podcasting industry due to its lack of innovation in analytics and monetization. Competitors are catching up by offering better tools and diverse revenue models. However, Apple is aware of these challenges and plans to enhance its offerings to maintain its leadership position in the market.

Q: Why should creators consider starting a podcast now?

Creators should consider starting a podcast now due to the rapidly evolving industry and the availability of new tools and platforms like Anchor, which simplify podcast production. The growing market and diverse monetization options present opportunities for creators to reach audiences and generate revenue in innovative ways.

Summary & Key Takeaways

• Podcasting is experiencing significant growth, with monetization methods evolving beyond traditional advertising. The U.S. market is expanding, while China's market is already substantial. New platforms are challenging Apple's dominance, offering innovative ways for creators to profit.

• Spotify is investing heavily in podcasting, aiming for it to form a significant part of their revenue. Competition is increasing with new entrants like Chinese companies Ximalaya and Himalaya, which are introducing alternative monetization strategies.

• Analytics in podcasting are improving, with tools like Chartable offering insights into audience behavior and performance. Apple is aware of the competitive landscape and is expected to enhance its analytics capabilities to maintain its market position.