Facing the podcast industry’s unbridled growth, veteran audio creator and strategist Eric Nuzum looks to the hard-won wisdom of public radio.
Nuzum describes several “new emerging systemic problems that will become growing concerns over the next few years — problems that public radio has been working on with a decades-long head start.”
The need for diverse revenue is just one complexity solved by radio, now echoed by podcasting. “[Radio’s] early leaders realized that government and licensee revenues would never be enough to fuel the system’s growth,” Nuzum explains.
These common pain points and solutions aren’t purely financial. Radio’s invaluable advantage lies in its “decades-long understanding of how to nurture a relationship with listeners.”
In November Edison Research delivered its first Podcast Consumer Tracker. The study, which measured the comparative reach of the top podcast networks in the United States, now offers a new metric.
Edison has announced in a blog post “the podcast genres with the greatest reach amongst U.S. weekly podcast consumers.” How were comedy, news, and society/culture named the reigning categories?
By matching data on the “specific podcasts listened to by [its] sample of weekly consumers” with the “podcast genre data that podcasters provide in their RSS feed.”
It’s important to note that “these figures do not represent any kind of compositional or share data.” Tom Webster’s post from October, “What Downloads Can’t Tell You,” details these distinctions.
Rolling Stone columnist Tim Ingham reports on slowing revenue growth among major record companies and, of course, podcasting’s role. Namely it’s Spotify’s spoken-word push is seen as “eating into the bread and butter of record labels.”
An NPR report, via Edison Research’s Share of Ear Study, may suggest so. From 2014 to 2019, music experienced a 5% market share decrease while spoken word gained 20%. Nielsen data and IFPI’s Music Listening 2019 report also point to tipping scales.
“Whether or not you see podcasts’ cannibalizing of music consumption on Spotify as ‘good news,’ or something rather scarier, will depend on whether you’re a Spotify investor, a record label, or a musician,” Ingham writes. Well, what if you’re a podcaster?
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