YouTube to Podcasting: Studio 71 making the transition?
Studio 71, best known as a digital video network, has now made the leap into podcasting. They are certainly not moving away from video and YouTube, but they have decided that podcasting is becoming important enough that they must take it seriously.
Studio 71 is best known for operating a network of digital video creators, like YouTube star Lilly Singh, and producing original video shows starring that talent. Now, it’s formed a new division, Studio71 Podcasts, to also create podcasts with its creators. Overseen by Adam Boorstin, Studio71’s evp of global digital distribution, that five-person team has produced 11 podcasts since March that star Studio71 creators such as comedians Christine Sydelko and Harley Morenstein. By the end of this year, Studio71 expects to have nearly doubled its number of podcasts, with 80 to 100 episodes airing per month across its slate, said CEO Reza Izad (according to DigiDay.com).
Studio 71 has an agreement with the podcasting platform CastBox to host 10 podcasts and Studio 71 seems to only be doubling down on its efforts to make a big splash into the podcasting world. By the end of this year, Studio71 expects to have nearly doubled its number of podcasts, with 80 to 100 episodes airing per month across its slate, said CEO Reza Izad.
Also mentioned in the article was the admission that YouTubes ad apocalypse was a major reason for this transition. YouTube has faced a real problem with the platform’s response to its brand-safety issues that boiled over last year. To address advertisers’ concerns, YouTube took a more conservative approach when deciding whether a video was eligible to carry ads, but that has resulted in creators losing revenue and led many to turn to other avenues to bolster their businesses, such as podcasting. For example, YouTube star Cody Ko started his “Insanely Chill” podcast for that reason last year, and he now says the podcast is “one of the best things I do.” Ko said the podcast’s average ad price is “way higher” than what he makes per ad on YouTube, and he can distribute the podcast in video form on YouTube to add supplemental revenue.
With Studio 71 fully on board the podcasting train, we have reached the “another day, another large media company diving head first into podcasting.”