Branded podcasting forecast to double in 2017
2001 saw the launch of the ‘must have’ digital audio device of its age, the iPod. A lightweight gadget that could carry the entire content of an individuals’ audio library in the small confines of their pocket. From that point onwards, the iPod would revolutionise the way people listen to music for years to come.
Placed within the iPod’s technology, was an innovative means for consumers to access narrative audio content known as Podcasts. For the following years, podcasting would become a niche genre for many years that followed. Despite the lull in the podcast market that occurred from early 2010 until recently, podcasting has seen a resurgence lately and has provided brands with an extra avenue in which to create new business opportunities.
Writing for Digiday, Max Wilens, forecasts that 2017 will show a marked increase of brands that will provide branded shows for their consumers:
“Barely more than a year after GE and Panoply debuted “The Message,” a Cannes Lion-winning science fiction podcast that was compared to “War of the Worlds,” branded podcasts have come en vogue: Publishers including Gimlet, Midroll and Gannett have all launched brand studios, pulled in new advertisers, gotten existing ones to fork over more money, and some industry observers expect that branded content in podcasting will more than double in 2017.”
Matt Turck – Chief revenue officer of Panoply confirms 25% of its podcast revenue is generated from customer content.
“It is kind of exciting and hot right now,” says Turk.
Why brands are turning to podcasting in 2017
More and more people are turning to podcasting as part of their daily digital media diet. It is suggested that consumers like the fact that they don’t have to engage with a screen for their fulfilment. When you consider the amount of time many of us spend in front of screens today – whether for work or leisure – this is an easy concept to appreciate.
Brands are realising the digital marketing potential that can be gained through podcasting. Jay Baer – writing for Convince and Convert – provides research conducted by Edison, the report claims that podcast listening in the USA grew by 23% between 2015 and 2016. This evidence suggests that podcasting has now become an established part of the digital media landscape.
A primary reason for the growth in podcast usage in recent years is largely down to the change in the way they are accessed. Podcasts were traditionally accessed via computers, but modern day technology – such as tablets and smartphones – allows consumers to access their podcast shows and broadcasts wherever they are, not just in the confines of their home.
Businesses benefiting from branded podcasting
Case studies provided by Adweek show that high profile, USA based company – Intercontinental Hotels, have produced two 20 minute stories for their podcast, and the success of those broadcasts have motivated them to produce many more in 2017.
The report suggests that many more well-established brands such as, HBO, State Farm Insurance and General Electrics are set to follow suite. It appears that businesses who are searching every possible avenue to increase their client base are finding podcasting as a creditable means to engage with new and existing audiences to drive sales.
Technology colossus – GE have found unprecedented success through their highly popular series The Message. The broadcast ran between October and November in 2015 and attracted an astonishing 4.4 million downloads with an average of 450,000 consumers tuning in per episode.
The success of this branded podcast has inspired GE to follow up with a second series. A ten-part show by the name of LifeAfter. Further success was anticipated and with feedback from they decided to make the next series even bigger and better than the last by making the shows longer in length.
Andy Goldberg – GE’s global chief executive confirms how branded podcasting has benefitted their organisation:
“The Serial format works for us—we’ve built a strong audience, It’s more in the entertainment world than it is in the advertising world.”
To get the best advice of how podcasting can benefit your company. Contact the expert team at Effective Group. Our friendly staff will guide you on your path to designing and implementing a successful and profitable podcast.