Paywalled content, interactive shows, monetistion means, talent pools and more – is it any wonder this could be podcast’s year of reinvention?
Every year I try make podcast predictions that actually ring true, and each year I am either proven right – or blown away with what transpired.
Depending on the statistics you read, or who you choose to believe, podcasting on the continent – and in South Africa – is either in really good shape, or a market on the precipice of exploding.
But why inundate you with statistics when I could just take a small dive into the trends I think will become prominent in the months ahead?
With YouTube now in the podcasting space, all their major expansions with RSS integration point directly towards YouTube becoming a prominent podcast player. Sure, you probably already are consuming podcasts in the form of video, but now YouTube is set to become another popular place to upload your podcasts RSS feed to.
When will this arrive to African shores? We don’t really know – we aren’t usually top of mind in podcast landscapes when technology is created, but at some point of 2024 YouTube RSS integration and access to another platform’s analytics will be available to podcast creators.
This should bring a nice refresh to the podcast app ecosystem, with creators having access to the YouTube recommendation system, commenting capabilities and the auto-play feature.
Hop aboard the AI train
Artificial intelligence (AI) will continue to make an impact on the podcasting landscape – whether it just makes your audio cleaner and a better listening experience, or whether it is providing different ways of promotion, or some other unidentified way of producing or generating content…
The AI train is here and I urge everyone to jump aboard.
I would love to see AI focused on opening up podcasts to communities that speak different languages. I would an AI tool that can translate an English podcast into allow our official languages, to allow more people to enjoy content and gain access to insights in their mother tongue. It also allows a creator’s audience to grow.
Hopefully AI also plays a part in enhanced analytics and measurement tools for creators as well. This is one segment of the podcast landscape that grows year on year, and the more sophisticated the analytics, the easier it is to explain to future clients how good your podcast is for advertising.
AI has the power to make podcasting faster by saving time and energy through the tools it can provide.
This feeds into monetisation. Right now, a lot of podcasts treat their advertising like radio advertising. I think this year we will see more innovative podcasting advertising that highlights the brands that are willing to be more creative with the online audio they deliver.
Research suggests that audio adverts outperform video advertising when trying to grab attention and generating brand recall, so I fully expect this trend to continue and provide a plethora of new digital audio advertising methods.
Of premiums, paywalls, interaction…
I also believe that 2024 is the year we see a lot more podcasts offer premium content behind a paywall. Paywalled content is not the only monetisation option – live shows and merchandise are also proving to be income-generating tools. This works if you have an engaged consumer.
The rise of interactive podcasting is also something I expect to see more of in this sector, with more listeners contributing to their favourite shows than before.
Whether this is done by Polls, Q&A’s or real time commenting from streaming, I expect podcasts to provide listeners with a more immersive experience for their communities.
… And politics
2024 will see a rise in political podcast content. This year, dubbed the Year of AI Elections, will provide more election coverage than before – from US politics to the elections at home, I expect more conversations on the topic in the buildup to several major elections.
What’s more, live streaming these conversations is expected to increase sharply. Live-streamed panel discussions, breaking down manifestos and social commentary, will probably reach even further now – think Twitter Spaces, with your favourite trusted political commentators.
More communities listening and commenting on topics they have a keen interest in means there will be more listeners that creators have exposure to.
Quality over quantity
More shows mean more content – but is that necessarily good? This year, the success of podcasts will come down to how good the content is – not just in terms of the quality of the conversation, but also in the quality of the audio and video provided.
Quality gives the user the chance to engage more with the content – if it sounds bad, not many people will make it to the end of your episode. But if the story is good and the quality backs that up, I expect a surge in fans for particular podcasts.
This also feeds into the types of shows we are able to consume: this year, expect a lot more genres and execution methods. Not everything needs to be a host interviewing a guest expert; maybe more narrative stories will come into play.
We may also hear more listener stories – there will be a lot more room to play around building a niche community that suits the type of content a podcaster produces.
This year feels like the year of reinvention in the podcast landscape.
If you are a podcaster, I expect you to have a lot more gigs lined up, as the need for talented producers is growing – everyone (brands and clients included) wants a podcast platform – but not everyone can make them, or even knows where to start,
Freelance podcasters may be in for a lot more consultation and pitching, and podcast talent is expected to land more paid gigs as brands look to increase their exposure to developing audiences.
Another expected growth curve is with podcast stables that have talent pulling in one consolidated direction – you like one type of podcast? Well, you will probably like the other offerings in the same network.
These are my predictions. I hope some of them come true – and that, even if not, at least some of these trends made you think more about the podcast landscape and where you, the creator or the brand, can fit into it for the rest of 2024.
Simmi Areff is a pioneer in podcast space, having successfully launched two podcast companies (POC Podcasts and All Ears FM), won numerous awards, and features prominently in Apple and Spotify charts. He now heads up the podcast division at Arena Holdings and his hilarious podcast Badvice is a must-listen.
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