Seems like I relatively know nothing about the podcast industry. Anyone here who can share some insight? Is the podcast industry as profitable or potentially profitable as radio? Do you think radio shows and podcasts are in competition? Or is each industry helping out the other? Where is radio heading in the future? Seems like there hasn't been much innovation outside of podcasts? Would just like to know more! Please share your thoughts!
A lot of money is being poured into podcasts right now. They get sponsorships. Plus talent agencies are snapping up podcast talent and promoting them for TV development deals.
Key word is "potential". Right now podcasts are not profitable unless you're a major podcast network like Vox who has a stream of good-paying advertisers. Podcast listenership has grown dramatically YoY for a while now so the market is there. But the revenue side is still young, and weak. Part of the problem is a lack of tracking. Podcast advertisers have no way of knowing if a listener heard their podcast or not. I think there are new platforms trying to tackle this problem but nothing mainstream yet. FM and satellite radio as we knew them are totally stagnant, if not declining. But they do have established listener bases so they're not going away. Companies like Sirius are investing heavily in digital streaming apps, so that's likely the play for other radio companies. I think you already answered your question about the future with the companies you tagged. It's all about convenience based on personalization and recommendation engines.
Growing but won’t be huge. Audio CPMs aren’t great and with programmatic stand to drop. More content is flooding the space. The upside is monetization and platforms will eventually be democratized, like with YouTube. Some lucky few will do well.
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