Wired.com: “The Podcast Juggernaut Has (Finally) Arrived”
Over the last few weeks, it’s starting to become clear that some news outlets are shifting more focus onto podcasting and how the medium is revolutionizing content. Wired.com was responsible for our last headline article about the power of podcast advertising, and they have doubled down with their March 7th article where they claim “publishers are racing to own the money-printing machine that is daily news podcasting.”
The article explains the rise of news podcasting in 4 separate acts:
Act 1: Serial. Almost any story about podcasting seemingly comes back to “Serial,” the murder mystery that swept a nation. From Serial came This American Life in 2014, which became podcastings first true blockbuster. In fact, most people don’t know that Serial actually wasn’t profitable and needed funding from This American Life to fund season 1. The problem was, the show was 12 episodes and 8.5 hours of content, and by the time it became popular, there was no time left to capitalize on the advertising dollars.
Act 2: To solve that issue and increase chances of being profitable from day 1, Gimlet Media who took the idea of creating highly produced podcasts and treating them like movies/businesses, complete with up front funding and VC capital. Still, the biggest problem here was the amount of content… there wasn’t enough to create daily episodes.
Act 3: The New York Times launched “The Daily.” The flagship podcast that solved the issue of content scarcity by turning the news into a daily show, similar to radio (but on demand). This not only created a daily revenue stream for advertisers, but also allowed them to help sell more subscriptions to their paper and online access.
Act 4: Vox comes out with their new podcast “Today Explained.” Unlike The Daily, Vox set out to create fresh new and more polished shows, complete with guests and production value. Vox invested heavily into the success of this show and the investment would have been unthinkable if not for Gimlet and The Daily’s previous success.
Public radio now needs to up its own game and rise to meet the challenge, even as podcasting itself is moving on to even greater things. Gimlet Media, for instance, its eyes set firmly on Hollywood, has already hired a former Netflix and Hulu executive as its CMO. It’s safe to say that news is making the move to on-demand and that even the biggest media companies in the world are understanding the importance of podcasting for their companies futures.
To read the full article click HERE