By Jonathan Baker The podcast has undergone a major transformation since its beginnings in 2003. Once focused mostly on listening, watching podcasts has become popular. And as well-known streaming services are getting into the act, this trend will continue. From Audio to Video While podcasts had been incorporating video since 2004 (known as ‘vodcasts’), audio was the main attraction. People enjoyed listening to podcasts on their choice of Spotify, Pandora, Apple Music, or Amazon Music as they performed other tasks, from exercising to commuting to work. Then, in 2021, premier video streaming platform YouTube launched its own podcast. This significantly contributed to the rapid shift to watching as well as listening. Recently, Netflix took an interest in podcasting. Netflix Joins Forces with Spotify and The Ringer Late last year, reports stated that Netflix would partner with Spotify to create a multi-format entertainment ecosystem. This past January, The Ringer—a sports and pop culture website and podcast network—became part of the deal with the launch of The Bill Simmons Podcast. (Mr. Simmons is both founder of The Ringer and the head of talk strategy for Spotify.) In an article posted to Internet Movie Database, he stated the intent is to slowly attract audiences on an incremental basis, especially as there so many platforms vying for attention. One of the latest brands that is vying for attention is Hulu, another video streaming platform. Hello Hulu Yes, Hulu has joined the podcast competition, having signed an agreement with comedy podcast, We’re Here to Help. A recent report by e-Marketer observed that this move mirrors Netflix’s strategy to branch out into podcasting, further theorizing that both platforms seem intent on taking the top spot from YouTube. While Netflix appears to be gaining traction, YouTube is still clearly in the lead, as it is both the largest media platform and the first place most users visit to hear (and watch) podcasts. Regardless of which platform leads, these latest developments will provide terrific opportunities for marketers, as well as challenges. Opportunities The most obvious advantage to the growing number of podcast platforms is the wider variety of potential customers marketers can reach. Pinpointing interests of different target audiences by their choice of podcast and serving ads that will interest them will be much easier and more efficient. Challenges As with overall questions facing connected television (CTV), increased podcast licensing among providers may lead to greater fragmentation in the this space. Aside from media planning becoming more complex and establishing separate partnerships, there could also be higher costs to achieve scale. In Closing… Both Netflix and Hulu boarded the podcast wagon relatively recently. If this trend continues, the popularity of podcasts is guaranteed. (Any guess as to which platform will join next?) The above findings also demonstrate the ever-evolving possibilities in how brands can make their presences known. From the early days of traditional print advertising to the digital options available today, who knows what the future holds? How do you promote your brand? If you have questions or are considering different channels, learn about the services available at EGC’s MediaMix Hub. Then, contact us so that we can begin a strategy for your brand to be both seen and heard.
