3 Reasons Why You Should Be In Podcasting

Josh Chery | October 20, 2021 at 8:00 AM

Podcasting Is Here And It Is The Future

The medium that started back in the early 2000s is setting a new course for the world of media. It is something that the public did not know they needed.

Podcasts are still a relativity new and growing industry. The rapid growth of the industry can bring some confusion about its popularity or how it can benefit brands. In this blog, Hollywood Branded discusses podcasts and why they have become mainstream.

Everyone Has One

I would argue that the podcast revolution will be more monumental for the world of advertising/ marketing than the introduction of social media. The primary reason is a lower barrier to entry. Social media provided a great substitute for advertisers to target wider audiences, and it worked. Individuals, small businesses, and Multinational Corporations (MNC) alike continue to benefit from it, but it has become problematic without a larger following on social media or a significant amount of capital. Podcast, alternatively, do not. A microphone and an idea are all that’s required. As you know, people have been taking advantage of that. As of 2021, there are over 2 million active podcasts and they are still in heavy demand. A study done earlier this year found nearly 60% of consumers over the age of 12 listen to podcasts. Podcast's integration into the mainstream is so common, the word podcast is now being used as a verb. Podcasting presents distinct opportunities that cannot be offered by other forms of media.

The plethora of podcasts has granted advertisers access to niche communities. Supposedly, podcast listeners are reportedly wealthier and more educated than other mediums. That is great news for anyone who has plans to monetize their podcast. Advertisers can benefit as much as the podcasts. The podcasting scene is still set to expand with new ones being released every day.

The Fanbase! OMG, The Fanbase.

Loyalty is an indispensable attribute in marketing. Customers, companies, and brands alike crave it. When I say "loyalty," I’m referring to the devotion to something, not just another companies’ loyalty program. If there is one medium that has a mass undying fan and an ongoing goldmine for advertisers, it is podcasts. We all know that they are the new trend. Honestly, it feels like everyone, and their cats have a podcast; which probably expedited its recent growth in popularity. If there is one pattern, I have noticed most in podcasts, is the support the fans have. People can now pursue podcasting as a full-time job due to that support. Of course, there is the notable Joe Rogan and Spotify deal, which resulted in Spotify having exclusive licensing rights to his podcast for 100 million dollars. The controversial podcaster once claimed that he suspected a drop in viewership due to the platform exclusivity, but this article and reports from Joe Rogan himself show that his viewership has grown exponentially since the transition to Spotify. His podcast keeps growing, despite the fact he is in some controversy almost every week. No matter what trouble he finds himself in, his fans keep coming back.

The explosion of interest in podcasting has granted everyone a medium where they can, more often than not, find a podcast that relates to their favorite hobbies or interests. Having the ability to precisely pick and choose what you want is possibly the reason for such support in podcasters. I have personally seen how important a fanbase can be. Since those Percy Jackson books in middle school, I have had an interest in Greek and Roman mythology and found a freshly released podcast three years ago about it. The person who started it was a recent graduate with a full-time job and did it during their free time. Three years later, she announced that she was able to quit that job and focus on the podcast. Her podcast now has ads, and she has the backing of a production company that enables her to travel for it. She often expresses her gratitude towards her audience for their support. The podcast fanbases never seem to fail.

A Little Something For Everybody

We can all admit not all of us were born to be on the microphone, and some certainly do not have the voice for it, but that’s ok. Becoming a podcaster is not the only path into this booming industry. Instead, several may choose to help the host by becoming a producer. The role of the service can vary depending on the show and contract. Some producers serve as a second host and some are fully behind the scenes; all that matters is to guide the show in the right direction. If that role is still too involved, podcast managers and agencies are emerging. The business world is known to be a little confusing, with the majority of podcasters not being business savvy. That is where that role comes in. As previously stated, starting a podcast is not that difficult. Typically, they are started by an individual or a small team. Management agents/agencies provide them with advertising, marketing, and more. Interested folks, can take online classes to become podcast managers. A friend of mine recently started a job as a writer for a traveling podcast. The more the industry grows, so does job variety.

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Podcasts Forever

From here on out I do not think there will ever be a time where podcasts stop being mainstream. Over the last decade, podcasting has slowly edged its way into our culture, establishing itself as the new leader of long-form audio content. Some companies have already invested millions into podcasts. Spotify and Apple are competing for podcast listeners as well as music streamers. The average podcast listener has seven different shows that they follow weekly; according to a survey by BuzzSprout, a majority of listeners look for more shows on podcasting directories.

So, the people are waiting. The advertisers are looking for ad placements and even some of the oldest earbuds come with microphones. When are you launching your podcast?