Unless you live under a rock and don’t know what is happening in the world, then you may not be familiar with the growing phenomena of podcasts. As of September 2023, 3.02 million podcasts were produced and approximately 464.7 million people listen to them. Do the math and you’ll learn that number is about 22 percent of all Internet users. Within the two years of 2022 and 2023, the number of podcast listeners jumped by more than 40 million. Analysts say that by the end of 2024, there will be about 504.9 million podcast listeners around the world.

What Is A Podcast?

A podcast is a digital audio recording in which one or more people tell a true or fictitious story or interviews someone who has special knowledge of a specific topic that is broken down in to episodes. The recording can be downloaded or listened to through the Internet.

There are actually five types of podcasts. They include:
· Scripted fiction
· Interview
· Monologue
· Nonfiction storytelling
· Conversational

The podcast began as something called “Internet radio” in the early 1990s. The first was introduced in 1993 when Carl Malamud did interviews of computer experts weekly on a show called Internet Talk Radio.

It evolved into podcasting about 2003 when a Dutch MTV video jockey Adam Curry and a software developer named Dave Winter partnered to develop the technology that would allow listeners to download the audio files from the Internet.

The term “podcasting” first appeared in an article in the Guardian written by Ben Hammersley in February 2004.

In 2005, Apple became the first company to offer free podcasts through its iTunes platform. By 2014, Apple released operational software dubbed iOS8 that had a podcast app built in, which helped to promote it to the public.

Later in 2014 a podcast called “Serial” became the first to achieve 5 million downloads The show covered a cold case about the murder of a Maryland teenager named Min Lee and questioned the conviction of Adnan Syed, Lee’s former boyfriend for the crime.

Podcast Provides A Platform To Everyone

One of the reasons why podcasting has grown into a phenomenon is that it provides a platform from which anyone can speak and attract an audience. It is very affordable for one to create a podcast –- the cost of a microphone and headphones, recording software, and signing up with a podcast hosting service gets you on the Internet. It is self-publishing at an affordable price.

One builds an audience through an RSS feed that alerts listeners of the availability of a podcast. Anyone who is interested has access to downloading the show or listening to it on the Internet. Smartphones include a media player that permits you to subscribe to a particular podcast and stream or download the episodes.

Because podcasts have become so popular, it is possible for podcast creators to attract advertisers that they can promote in their episodes. Companies that wish to advertise on a podcast can promote their products or services to a lucrative niche market.

According to AdvertiseCast, the average rates for podcast advertising is $15 per thousand listeners for a 10-second ad, $18 per thousand listeners for a 30-second ad and $25 per thousand listeners for a 60-second ad. Surveys of listeners to podcasts show that 64 percent of them have visited the advertiser’s website after hearing about it on a podcast.

Podcasts can also provide a platform for public relations, which creators use to enhance their reputation and make them stars. It also helps companies promote themselves to markets.

Assuring A Successful Podcast

In February 2020 a survey of podcast listeners was done, which provided answers to what makes a successful podcast. Nine reasons were identified. They were:

· Regularity
· Length
· Purpose
· Format
· Platform
· Host Personality
· Producer
· Topics
· Ratings

Regularity

The survey found that more than half of 60 percent of podcast listeners listen to podcasts daily, about one third listened weekly. Analysts concluded that podcasts that were promoted in advance attracted the most listeners. Moreover, podcasts that are released weekly appears to appeal to the most number of listeners. Fifty one percent of those who participated in the survey favor listening to weekly podcasts, 27 percent preferred daily podcasts, and 22 percent prefer to listen to podcast that are released once to twice a month.

Length

More podcast listeners favored a podcast that is 16 to 30 minutes long. They did not like podcasts that lasted for more than 45 minutes.

Purpose

Listeners preferred podcasts that are entertaining and help keep them informed on the news.

Format

About half of listeners prefer that a podcast have multiple hosts. Twenty six percent favored an interview format and the same number preferred a single host.

Platform

The most listeners preferred podcasts that are offered on the Apple, Google or Spotify platforms. Google ranked first at 33 percent, Apple was next at 30 percent and Spotify was ranked at 24 percent. Analysts believe that Google and Apple platforms are favored because they offer smartphones that include a built-in podcast app.

Host Personality

Listeners are attracted to hosts that have a sense of humor as well as interview skills. They didn’t seem to care whether the host is a celebrity. The gender and age of the host also didn’t seem to matter.

Producer

Most listeners who responded to the survey favored that a company or a nonprofit organization produced the show. Less than 18 percent favored a celebrity, a media organization or a sports celebrity or entertainment organization as the producer.

Topics

Forty-five percent of listeners in the survey said that they listen to podcasts with both multiple topics or discussions in a single episode as well as one topic or discussion. Analysts concluded that this finding shows that topic variety is less important than other elements in selecting what podcast to listen to.

Ratings

More than half of respondents prefer listening to podcasts that have a good rating or review. Therefore, companies that wish to advertise or promote their brand on the podcast should select one that has a good rating. Platforms that review podcasts include iTunes, Podcast Republic, and Podcast Addict.

Podcast Hosting Service Vs. Producing Yourself

Anyone who wants to create a podcast can produce it him or herself or hire a podcast hosting service. A podcast hosting service provides a platform on which a podcast is uploaded and stored. It launches and optimizes episodes and shares them with distributors through the RSS feed. You can also produce your own podcast.

If you produce it yourself, you control the message. It allows you to align your brand with other brands by inviting guests to participate in your podcasts. This option could prove beneficial for a company that wants a podcast that promotes their brand. You will have the opportunity to advertise and promote the podcast on your own platform and use your own email list, blogs, and social media to promote the show. You also have the opportunity to crossover episodes of your podcast with other podcasts. This is when you agree to have a host from your company and a host from another company or guest host. This is an affective way to expand your audience. You can also promote your podcast with posts on Facebook or other social media platform so you reach your target audience.

If you produce your own podcast, add the name of the show to your company bio, your email signature, your social media page and write articles that promote the podcast that you can place on your website.

Be sure to reach out to your listeners to get reviews that you can use to advertise or promote the podcast. You can also reach out to current and former employees, friends and colleagues in your industry that can also provide reviews.

A hosting service provides the frequency in which your podcast is offered as well as provide a space to store the show. It also provides analytics that permits it to track metrics that include:

· Interactive Advertising Bureau-verified data
· Episode performance over a period of time
· Number of subscribers that are listening or downloading the podcast
· Audience demographics including gender, location, and age of the audience
· Most popular distributing platforms and sources
· Most and least popular content

The hosting service also offers marketing tools that assist in integrating between your website and the hosting service’s platform. It also offers monetization opportunities so that you can make money off the podcast and ways to promote the podcast.

If you have a small production team, the host will assist in filing production gaps. This means that it can provide additional recording, post-production and promotional options.

If you have a limited amount of money to spend on a podcast, a hosting service provides a low-cost platform with the basics you need to launch your endeavor.

The Future Of Podcasting

Now is the ideal time to become involved with podcasting because its future looks bright.

First of all, people or companies that create a podcast will have more control over their audience than ever before. New apps including Substack and Ghost give creators the devices they need to directly gather and handle information from their audience.

In addition, podcasts can be made private. Listeners will need to subscribe to the shows. This will provide the chance for creators to speak on special topics that they don’t want to make public. This could include personal stories, sensitive topics, and even secrets to success. The subscription allows podcasters to invite people to listen to their podcast and also allows them to interact with the audience.

A new trend for podcasts is short-form audio programing that can be placed on TikTok and Instagram Reels encouraging the creation of shorter podcasts. In the future creators will be able to create audiogram videos and share them on social media.

In the future, you will be able to share your podcasts on social media platforms including Facebook and X, formerly known as Twitter. There will be a time when sharing a video podcast on social media will be common. This will allow you to reach out to non-podcast listeners and create a brand new audience.

Podcasts are already a means for companies to market their goods and services as well as their brand. This phenomenon will grow. A study performed by Statista discovered that companies that use podcasts for marketing receive a larger return on investment compared to more common forms of content marketing.

Podcasts are just starting to be used as a communication source within a company. It provides an opportunity to reach out to remote workers and assure that everyone stays connected and informed.

The market is big and will only get bigger. In 2022, the number of listeners of podcasts grew to 140 million and is expected to grow to 164 million in 2023.

The podcast phenomena will grow; there is no doubt about that. We advise you join in and reap the benefits.