2023 has been another year of growth for podcast listening – 32% of UK adults are now listening each month. So, what does 2024 hold? If you’re looking to launch a podcast in 2024 (or maybe you want to relaunch your podcast), here’s some good reasons why this is your year!
1. YouTube makes it’s relationship with podcasts ‘official’
In 2024 (April to be exact if you’re in the US) Google Podcasts will be no more, instead YouTube Music will be where Google wants you to consume your podcasts. YouTube is fast becoming a dominant platform for consuming podcasts (in the US studies show it’s the most used platform, ahead of Spotify).
This isn’t just important for those with ‘video podcasts’, YouTube presents an exciting new opportunity for podcast discovery. 35% of YouTube users say they prefer the platform for ‘listening only’ and 27% say they like to minimise the video to listen – check out some great stats in these two recent reports – from Westwood One and Sound You Can See from Sounds Profitable. It’s time you thought seriously about getting your podcast on there (we’ve been helping one of our clients PTC’s The Third Angle Podcast do exactly this, if you’d like to chat, drop me a line)
2. Seize on social media fatigue. Get proper attention
Of course, social media isn’t dead, but I’ve heard it myself from other agency owners, and there’s been plenty of reports this year of users getting disenchanted with the scroll. People are craving proper, valuable content they can really sink their teeth/ears into. And when podcasts are shown to have the highest levels of attention (65%) compared to other media, give your listeners something great and they’re going to be spending a lot of time with you!
3. Podcast tech is being supercharged
Tools like Descript (an editing but now also recording platform that’s been enhanced with pretty clever AI tools), are blowing me away with how easy they’re making it for people to up their podcast game, there’s really no excuse for having a bad and poorly promoted podcast now.
But in terms of measuring ROI – podcast attribution, knowing where your listeners are coming from (and going to) is really catching up. Whether you’re running ads on other podcasts to drive audience growth or just wanting to know more about who is listening, we’ve now got access to better tools than ever before.
4. Reach the hardest to reach audiences
It was only in 2019 that a report said that Gen Z was the hardest to reach to demographic for marketers. That very group now make up the fastest growing audience segment when it comes to podcast listening (up 57% over the last 5 years). Spotify found this year that Gen Z podcast listening in the UK is growing twice as fast as their millennial counterparts. Couple this with the growth of video podcasts on YouTube (nearly half of Gen Z listeners say video podcasts allow them to feel more connected to the hosts), and you’re on to a winner.
Oh and if your audience is at the other end of the scale (55+) those people are also listening more, and listening longer…winner winner!
5. The number of new shows is decreasing
This isn’t something be worried about, it means the era of ill-thought out, ‘have-a-go’ podcasters has come to end. There’s a real understanding (and proven evidence) now of the benefits that come from a solid podcast strategy, but also an acknowledgement of the commitment that’s required. The ones who commit now are coming into it with real drive and ambition. That means fewer bad podcasts to try and compete with and better quality content (and results) for us all.
If you want to revamp your podcast, kick start your podcast strategy, or launch a brand new show in 2024 we’d love to help – fill out this short form and I’ll get back to you.