Podcasts are not new and cannot be categorized as a technological trend. So why do I talk about it in this blog? Because the rise in popularity is due to the developments in technology. The increase in smartphone use and the increase in available podcast apps give almost everybody access to podcasts. Distribution platforms have solved the issue of visibility. Moreover, voice-activated speakers in homes make it very easy to listen to a podcast while, for example, doing the dishes.
In addition to the technological trends that enable the growth of podcasts, podcasts offer exactly what the upcoming generations, the millennials and Generation Z, are looking for. Millennials and Generation Z are used to constant incentives and get easily bored. Podcasts offer a great solution because they allow you to listen anything, anywhere and at any time. With Netflix, television or YouTube, you need to look at your screen. With a book, you must sit down and look at your book. But you can listen to a podcast at any time. Whether you are on the bike, cooking, in the car or walking. It is entertainment and information while you are doing something else. And we, as the new generation, love this efficiency.
There is one last trend that has allowed podcasts to become so popular. We spend a lot of time looking at our screens, for example watching Netflix or scrolling through your Facebook feed. All these entertainment and information channels feel impersonal. Podcasts are intimate and a listener feels as though he or she is in a conversation with the producer. The informality and less ‘produced’ style drive this feeling of intimacy. This intimacy attracts listeners and distinguishes podcasts from other sources of entertainment and information.
The rise of podcasts shows that we must look beyond the technological trends and look for what it enables us to do. Something can be successful if it finds that sweet spot between a need of consumers and a solution that technology offers. Trends might arise in places we did not expect.
Sources
https://www.forbes.com/sites/quora/2018/10/12/why-are-podcasts-gaining-in-popularity/#621a80f45321
https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies
https://www.bbc.com/news/business-46470428
Thank you for your post! It’s very interesting that you point at podcasts as a rising channel to reach to people, and for people doing so in way that creates experiences of intimacy. I am huge fan of podcasts (like Joe Rogan’s podcast) myself and I must say podcasts resemble to Radio stations without the commercialized content in it. Most of the podcasts are without ads and are purely about the content and discussions of various topics. This is great, as a listener can sit back relax and listen to podcast stories, discussions and news on podcasts without the annoyance of the ads in between. The great thing about podcasts is that anyone can start-up via online means. Podcasters like Joe Rogan found themselves able to monetize on their content through iTunes and YouTube and he and his team are guessed to be making 25$ to 50$ per 1000 views or downloads, which he and his 3 other employees are guessed to make around 25-50 million a year. Joe Rogan’s podcasts are structured in format of inviting guessed on the podcast like Elon Musk in one episode, to talk about them as people, their issues and everyday life topics. This absolutely appeals to people as they can hear the opinions of both the host and the guest in a more relaxed environment. Outside the big media and attention, it brings more personal look on the guests. I see this format closely resembling to a late night shows like Conan, Jimmy Kimmel but feel a lot more intimate without the crowd in the background and staged. The podcasts feel more real and appealing to listen to. The question is will podcasts be able to sustain its popularity and grow in the future? I think definitely so as you can definitely make money out of podcasts. Are podcasts able to overtake the popularity of radio stations with time or create a new opportunity for delivering information and entertainment online and offline? And will we see different sorts of formats of podcasts aside the one from Joe Rogan, hosting a show, news, stories, history? Will it threaten the existing channels of information and entertainment as it feels more real and intimate rather than looking at Facebook, television or TV and News channels? They are also channels like Spotify, that people subscribe to listen to various podcasts (history, kids stories, comedy etc). Therefore, they are already platforms on which podcasts are integrated and is interesting to see what the future holds for it.
Hi Denise,
Interesting read!
Personally, I’m an avid podcast listener, probably listening more to podcasts than to music these days. In addition to your last two points on the rising popularity of podcasts, I think podcasts provide something that technologies have made difficult to achieve. Now that technology is all around us all the time, we constantly get distracted and shift our attention away from the good old long and deep conversations. When listening to podcasts, like for example the Joe Rogan Experience, you get to listen to 2-3 hours of deep and interesting conversations of people who are fully focussed on just that conversation and nothing else. I believe that in this time where firms compete over our attention, this makes podcasts quite unique as a medium. Anyhow, I’m excited to see how podcasting will evolve in the coming years!