Written by: Vickie Sullivan | May 23, 2023
2 Podcast Changes That Will Impact the Industry
Heads-up, podcasters: The major podcast players are discussing big changes.
Top podcast executives and creators want to inject new energy into the format while also determining how to make money from this media format. A recent article published by The Hollywood Reporter outlines the evolution of the format and what’s next for podcasts.
2 Podcast Changes to Watch
Podcasters big and small will be impacted by these changes. Here are two you need to keep an eye on.
• The rise of video: More podcasters are producing video podcasts. The reason is simple: more views. As this trend catches on, you will be expected to follow suit. While interview-driven shows are status quo, think of a format that helps you stand out. Perhaps it’s time to use podcasts to tell stories.
Listen: Cool Ideas for Video Podcasts
• Use partnerships and repackaging to make money: Typical megadeal funding is drying up, so prominent podcasters are repackaging audio content for other formats such as audio books, films, and TV adaptations. And that strategy is going to work only for the well-branded and popular podcasts. If you want to go beyond using podcasts as a marketing tool, partnerships with strong brand alignment will be key. For example, can you partner with an industry group and be branded as the voice for industry advocacy? Industry groups need your star power as much as you need their member community.
Watching these developing changes from the sidelines can be helpful. Use this time to strategize how podcasts will fit into your business model.
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