Podcasts: most important form of content right now!
Why you should start a podcast today?
Dear Artists
We hope you are having an amazing week.
There might have been a lot of instances where you came across a popular podcast or someone you know starting one. Audio is starting to become the next popular medium in the creator economy- you just need to take a look at the recent Clubhouse traction followed by Twitter Spaces, Spotify Greenrooms, and Facebook’s live audio rooms to gauge audio’s growing popularity. Podcasts are not that new of a medium (some would argue they’re not new at all). But in the past few years, we’ve seen them created and downloaded at record rates.
According to KPMG, India is the third-largest podcast-listening market globally and is expected to be valued at INR 17.62 Cr by 2023, growing at a CAGR of 34.5%. Audio was also one of the most preferred mediums last year. As per eMarketer’s report from April 2020, 49% of users prefer using audio platforms like Gaana, Spotify, and JioSaavn regularly.
So why are podcasts so popular and what are their advantages today?
Here are some things to consider:
Reaching a perfect audience
Unlike video content, podcasts allow consumers to blend content into their daily schedule in a way that doesn’t demand full attention and smoothly syncs with their lifestyle be it commutes, post-working hours, or mid-day breaks. This helps you create a niche audience and give you a chance to further build a community.Podcast Advertising
Another reason for the growth in podcasting is the potential income a popular podcast can earn from selling advertising. A variety of genres are streamed on Spotify locally, with listeners increasingly turning to podcasts for reflection, education, and entertainment. And so, there’s a growing opportunity for brands to leverage these podcasts, while we don’t have advertisements for Spotify podcasts in India, we have seen brands use the medium meaningfully. Since marketers look for ways to reach and engage people where they are, it's a matter of time before branded podcasts become a rage.More Content
Industry and Spotify insights show that podcasts will only grow from here, and led not by a company, but the booming creator community in India. Spotify invested in nurturing this talent, enabling them to create and share their podcasts not just on Spotify, but other audio streaming platforms. In fact, there’s been an 80x increase in the number of podcasts created on Anchor in India in the span of just a year, making India one of the fastest-growing markets for the platform. Going forward, we’ll see an inflow of talented creators across the country take center stage in growing their podcasting journey.The future of Podcasting in India
The podcast industry has created a new category of creators who are helping build an ecosystem of long-form content with deep retention rates with audiences. The next wave will come from podcasters evolving their audio expertise to newer formats (Twitter spaces/clubhouse, shorter format podcasts) while also building a content ecosystem around their podcasts (video podcasts, video clips, newsletters, etc). “This will also showcase scale for brands to look at investing in podcasts a lot more than they are right now,” says Varun Duggirala, podcast host of his show Advertising is Dead.
While podcasts have been around for a while, the lockdown accelerated its growth in India and more advertisers are warming up to the medium now…
What’s in it for you?
We have always emphasized building a community that is sustainable for you as a creator and podcasting is one such medium that gives you a chance to build yours today.
We have partnered with HubHopper, a free podcast streaming, creation, and distribution platform that enables users to create and produce podcasts with ease and convenience. It has democratized the platform by increasing accessibility and support for budding podcasters. You can start your podcast today without any hassle on your own terms by signing up with them.
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