A quick look at the top podcasts in Australia the other day showed Maddie (Nine) in first spot, Who the Hell is Hamish? (The Australian) in second and Claremont (The West Australian) in third. The common link: great audio content delivered by leaders in professionally-generated news content.
And , we cannot talk about podcasts without mentioning The Teacher’s Pet, which has now been downloaded over 42.7 million times, topping podcast charts around the world.
Quality journalism, brand identity
In many ways, podcasting is a natural extension of the news media industry’s ability to tell great stories.
It’s clear that the all the successful podcasts share several things in common: high-quality journalism, consistently good levels of production, and focus on compelling themes and topics that capture the audience’s attention.
Interactive Advertising Bureau (IAB) Australia says that audio content represents a real opportunity for brands to increase their recognition and reputation.
“Increasing brand awareness is the key objective for broadcast, streaming and podcast advertising. 77% of media buyers had used streaming digital audio advertising.”
What’s more, the success of podcasts such as The Teacher’s Pet have raised the international profile of Australian journalism. The Australia estimates that around 65 per cent of the podcast’s audience is from overseas.
The rise of audio
An INMA report on audio opportunities for news media showed that publishers “are experimenting, determining what the underlying technology can do for them, what audiences want — and what advertisers might pay for.”
“News media companies are in a prime position to benefit from the audio trend because they have so much content.”
INMA predicts that audio will be an important territory as news media publishers aim to reach out to younger audiences, who are increasingly opting for podcasts over radio content. This ties into the contemporary expectations of on-demand content: news media consumers don’t want to be restrained by a listening or viewing schedule: they want to access news when and where they choose.
Attracting advertising dollars
IAB’s 2019 Audio Advertising State of the Nation Report revealed audio platforms as fertile ground for advertising investment.
The report found that 87 per cent of agencies used streaming audio advertising in 2018, with brand advertisers increasingly embracing podcast advertising.
Richard Palmer of Triton Digital, who also sits on the IAB Audio Council, is optimistic about the future of audio. “The media buying community is continuing to increase their investment in streaming audio ad opportunities, as well as starting to embrace the commercial opportunities that podcasting is bringing to the market.”
The INMA report is similarly positive, highlighting audio projects as assets that will lead to future revenue streams.