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Podcasts: Why Podcasts Are Getting Popularity in 2021?
So, its 2021 and have you any idea why Podcasts are gaining popularity around the world! It time to Pay attention to the possibilities of audio media.
This time, I would like to introduce what is popular in the world that I am paying attention to.
It’s a podcast!
Podcasts have been around for a long time, so why are they getting so much attention in the world now?
In this article, I’ll explain why!
What is a podcast?
The word podcast comes from two words: Apple’s iPod and Broadcasting.
In 2005, Apple added podcasting to its iTunes music library. We were called an “audio blog,” and like a text blog, it was a way for everyone to share their experiences and thoughts with others by voice.
By 2020, more than 850,000 podcasts and over 30 million content episodes have been created, most of which are free to listen to.
Now it can be accessed not only on Apple’s iPhone and iPod but also on Android smartphones.
In addition, Spotify, which has about 130 million paying members worldwide, announced in 2019 that it will become the second largest podcast platform after Apple.
850,000 active podcasts worldwide in 2020
Many podcasts are heard overseas, such as in the United States, the United Kingdom, and Australia. Many major media companies that have noticed the popularity of podcasts have also entered the market and have become an extensive business in recent years.
Why is podcasts getting a lot of attention again?
It’s time to understand that why podcasts are getting popularity in 2021.
Podcasts have become more and more popular in the last few years. The reason is that you can approach very attractive target attributes (young, well-educated, high income, etc.).
It’s a great alternative to mass media for small brands with low advertising budgets who want to approach and promote specific targets.
Podcast market size
According to a report by consulting firm PwC, US podcast advertising revenue is expected to more than quadruple between 2015 and 2018 and exceed $1 billion in 2021.
Podcast Advertising Revenue in the US from 2015 to 2021 (estimated after 2020)
What’s the difference between a radio and a podcast?
At first glance, radio and podcasts, also known as the sunshine industry, seem to be similar.
However, the two are very different. Podcasts have a wide selection of genres or categories.
With podcasts, users can choose just the information they want to hear from a wide variety of technologies, politics, culture, science, games, comedy, and audio books.
It is also usually divided into smaller episodes, each episode within 10 to 90 minutes. It is easy to hear in the gap time.
Why did podcasts get so much attention?
Why are podcasts so popular all over the world now?
I think there are five points.
1. Rooted in the fundamental human desires
First of all, human beings have a fundamental desire to hear from others. Humans are always listening to old stories that children hear from moms and dads, chatting with friends at cafes, interviews with celebrities, and useful information for business.
In other words, I love the experience of listening to people’s stories (letters).
2, Listen anytime, anywhere
If you have a smartphone which can be said to be a daily necessity of modern people, you can multitask while listening to podcasts while doing other tasks. Podcasts are becoming very popular as the world gets busier.
According to a recent survey, 49% of podcast listeners listen at home, 22% while driving, 11% at work, and 8% while exercising. Podcasts also have audio articles (news categories), making them a great alternative to radio for daily commuting and busy days.
3, Abundance of contents
There are many categories on the podcast, and you can choose the one that suits you best. The top five categories of 2020 podcasts are Society and Culture, Business, Comedy, Health, News and Politics.
4, Establishment of a business model
Free podcast content is of great value to listeners, but the opposite is true to distributors.
It is difficult to deliver it free of charge due to the cost of production time and equipment. Many podcasters take on sponsorships and insert ads to earn the cost of delivering. In addition, some crowdfunding accepts donations from listeners.
The establishment of a business model in which the distribution side can benefit from podcasting is also a major factor in its widespread use.
5, High value as an advertising medium
Podcast topics allow advertisers to reach a niche consumer market of enthusiastic listeners. Listeners can trust podcasts because they convey their experience with personal products.
According to Edison Research, 52% of listeners are listening to the entire episode, and 41% are listening to almost one episode.
Listener drop-off rates are significantly lower on podcasts than on other platforms such as YouTube.
Why is audio media attracting attention?
Currently, audio media such as podcasts are attracting attention, which has many merits for distribution and listeners as well.
Easy to create content
For the distributor, unlike article and video production, audio content can be produced speedily without the trouble of writing articles and using large resources such as video recording equipment.
The fact that content creators can easily work on it is another reason why it is attracting attention unlike existing blogs and videos.
Podcasts are basically designed so that speakers can speak to listeners, so you can receive them as a message to yourself. In today’s world like in 2021, where information overload and mass media are difficult to trust, the distributors of audio media who speak to themselves feel more familiar, reliable, and intimate.
When the broadcast of audio media such as podcasts ends, listeners use channels such as social media to talk and interact.
Twenty percent of podcast listeners are said to be more likely to connect with their brand on social media. In short, voice media helps build brand awareness and trust among consumers. Through interactivity such as interaction with other listeners, audio media creates enthusiastic listeners.
Podcast situation in Pakistan in 2021
The podcast content in Pakistan is not so popular at this time of 2021, but we can use this medium for general discussion, including environmental issues and business. In some countries, politicians are now appearing as guests on political podcasts to share their thoughts.
In the United States, podcast ads typically convey the content or experience of using a service that a podcaster introduces a product, such as a 15-60-second spot or radio ad.
This advertising method is becoming a global trend and is expected to be like the United States in Southeast Asia.
Pakistani’s number of pod casters and listeners is increasing each year, and it could become one of the new digital marketing media.
The reason is that there are many opportunities to use podcasts, such as social issues and other problems of the society, which is said to be the best in the world, and homework by New Normal.
Why don’t you consider podcasts as a new marketing method?