Like radio to TV, the Internet and print, podcasts can be seen as an afterthought compared to its other new media brethren video, social networks and blogging. Yet this narrowcast medium can offer fantastic narrowcasting benefits to the content creator who dedicates himself to the craft of audio.
Statistics tell a different story than the perceived afterthought. eMarketer expects a significant increase in podcast consumption this year. The current 18.5 million in the U.S. (or six percent of the population) isn’t too shabby. A more than quadruple increase to 65 million in five years will be even more impressive. eMarketer says the audience growth will fuel US spending on podcast-related advertising increases to $435 million in 2012, up from $165 million in 2007.
Perhaps even more alluring, podcasts seem to attract audiences from all demographics, says a second eMarketer report. Five demographics have double digit ownership of the total market share, and men and women seem to listen to podcasts equally. The same report showed an even breakdown in the percentages of US podcast listeners in four income brackets: $25K to $50K; $50K to $75; $75K to $100K; and $100K and above.
Radio Support Can Better Podcasting
Maybe the sex appeal lacks luster because podcasting has been around for so long that it doesn’t have the sheen other media forms do. Or maybe the media form is just lest engaging and harder to use. As a result, it doesn’t generate the same excitement.
Blogging and video have both enjoyed the attention and support of their fourth estate counterparts in print (newspapers and magazine) and broadcast/cable. Unlike its brethren, podcasting has not received the same love from radio broadcasters.
Yes, radio shows are posted online — usually days afterwards — but not through the same mechanisms that most podcasters use for downloads (for example iTunes). And often radio shows will simply rebroadcast from the web page instead of allowing downloads.
There are some exceptions with some products like ESPNRadio shows available for podcast. And eMarketer listed terrestrial radio’s use and promotion of podcasting as a primary growth factor. To me this is the key. The Fifth Estate’s growth in many ways was fueled and created by the Fourth Estate. When terrestrial (and satellite) radio propagates podcasts regularly and openly, I expect to see a tremendous podcasting boon.
Social media marketers cannot afford to ignore podcasts. They can garner a tremendous boon for their communities with audio. Consider that Cisco experiences nine time consumption of its podcasts compared to its traditional web pages.
Marketing and PR Specific Examples
Sometimes examples speak louder than theory. Consider how successful Shel Holtz and Neville Hobson have become in our own space because of their renowned For Immediate Release podcast series. How about C.C. Chapman who has become known through social media circles first for his stellar podcasting skills?
My fellow panelist today at the HCI Summit (I’m liveblogging this event here) Lisa Orrell has a fantastic podcast that’s listened to in 17 countries by 3,000 people. Lisa, a marketing expert who focuses on Gen. Y and millenials, says the podcast has taken a life of its own (photo features Lisa Orrell, Human Resource Executive Editor and Publisher David Shadovitz and myself)!
Media Bullseye’s Sarah Wurrey does a weekly round-up of top PR podcasts every week called PR PodJots. This is a great round-up for podcast fans.
Locally in DC, Technosailor’s Aaron Brazell and I host a weekly live podcast "District of Corruption" via BlogTalk Radio. This is a Diggnation-esque semi-punk take on the local DC social media community (and larger events, too). We seem to be developing a loyal local following. Additionally, some of the Buzz Bin’s most viewed posts have been our podcasts.
Not sure my podcasting skills are that good as I don’t do any post production and prefer to go with the passionate approach instead, but thanks for the props.
Podcasting is a medium that is not going to go away. I think it will become a little more transparent and people will again focus on the content rather then how they get it. But, that is still coming.
Geoff,
Thorough review. I guess my first question for folks who are in business and serve the b2b arena is: Do we know if business people are listening? The demographics eMarketer offers are interesting but they don’t tell us much about what those listeners look like. What are their interests, their professions, their wants and needs?
Thanks for the props, Geoff. I agree that podcasts are growing in influence, depending heavily on the niche they are targeting, of course. Excellent overview!
Thanks for coming by C.C. and Sarah.
Lewis: I think Cisco’s audience is primarily B2B. Now those folks are obviously tech savvy. I cannot say for each sector though.