Podcasts are seeing a major increase in usage. At least 112 million Americans have listened to podcasts, with up to 67 million people listening to them at least every month. This is an increase of more than 11 percent over last year.
Podcasts aren’t new. They’ve been available for over ten years, and audio books have been around for longer. So, what is driving this growth, and how can you take advantage of it?
People are tired of staring at screens
As video continues to become more popular, users’ consumption involves starting at screens and scrolling endlessly. As exciting as it was in the beginning, they have become exhausting for many people. Podcasts present an alternative that is refreshing and welcoming. You can use your ears, not your eyes, to hear genuine human voices rather than images on a screen.
Podcasts Production value
The cost of producing podcasts are incredibly low. The average CPM for a successful podcast can be between $20 and $45, compared to $1 to $20 for web ads, or $5 to $20 for TV. This makes podcasts a lucrative opportunity with a significant return on dollars invested.
With mobile devices everywhere and internet speeds increasing, it’s now possible to download new material quickly and anywhere. Streaming podcasts is not only quick and easy, but it beats staring at movies on small mobile screens. This makes podcasts ideal while commuting and working.
So what can you learn from this?
1. Preferences are consistently changing
Podcasts saw a short-lived increase in popularity when they were first introduced over a decade ago, but fell by the wayside as users began to be drawn to social media and its content. Now, users are returning back to them in full force.
2. Cost ≠ value
Just because content is expensive to produce doesn’t mean it will add more value to your brand. Consider production value, original research, and special effects can make an impressive piece, but the key is creating targeted, interesting content that achieves significant visibility on even a small budget.
3. Technology drives trends
It’s obvious that advances in technology will determine the pattern that content is consumed. Mobile devices and fast internet have helped to increase the success of podcasts due to the convenience of downloading and listening to them on the go. Virtual reality (VR) and augmented reality (AR) look to create new possibilities in content consumption in the near future. With the up-and-coming 5G internet, we’ll see a change in how video is consumed on the go.
4. Those influencing decide the direction
Without other factors supporting podcasts over the years, it would’ve been nearly impossibly for it to take off without high-quality content producers demonstrating how captivating the medium could be. It pays to watch and learn from them. And if at all possible, network with them in your bid to become an influencer in your own right.
If you’re interested in jumping on the podcast bandwagon, you should consider utilizing our podcast creation service for your church or brand!