Podcasting: Unicorn or Real Opportunity?
A new TV series, Alex, Inc. debuted this week. It’s about the founding of the real-life podcast Startup which covers the founding and early days of Gimlet Media. Gimlet produces podcasts that are downloaded 12 million times a month.
Now that the subject of ”podcasting” has hit the cultural mainstream of television, it’s long overdue for an Agitator post.
First, a confession. I’m an unabashed podcast junkie. My phone and tablet contain downloads of more than 70 podcasts I subscribe to and follow regularly.
There are 350,000 podcasts available today, but so far not an indexing system to make them easily discoverable—a problem that will stunt growth until solved. And, there are a growing number of podcasting networks like Panoply and Vox Media that produce podcasts and help with advertising sales.
The number of Americans who report listening to podcasts within the last month now stands at 73 million, up from 67 million the year before. To put it another way: a little more than a quarter of Americans can now broadly be considered as active podcast listeners.
I’m also not recommending you run right over to your comms department and urge they start a podcast for your organization. Nor am I recommending that you immediately begin advertising on podcasts aimed at audiences like yours.
Rather, I’m recommending you put podcasting on your radar, get up to speed on its possibilities and educate yourself on its potential. ( You’ll find the most up-to-date research in this 2018 Infinite Dial Study from Edison Research and Triton Digital and their webinar on the Study)
Here are some highlights from the Infinite Dial Study and also a study by Atlantic Re:Think that spurred my interest:
- Podcast listenership in the U.S. has grown by 76% over the past two years, reaching 73 million today.
- The average weekly podcast listener takes in 7 podcasts a week.
- 64 percent of respondents who consume podcasts report doing so primarily on their mobile devices, up from 55 percent in 2015.
- Among Americans who have ever listened to a podcast, 80 percent report typically consuming most or the entirety of a given episode.
I find this level of engagement impressive. It may mean that audiences are forming a bond with particular podcasters –and their advertisers.
- The share of American men who consider themselves monthly podcast listeners has stayed flat (27 percent), but the share of American women has increased year-over-year: 24 percent, up from 21 percent the year before.
- 58% of listeners said they’ve increased podcast listening in the past year, and are currently averaging 4.2 hours of listening each week. It’s the most year-over-year growth of any medium; by comparison, 44% of those surveyed said they are reading more digital news; 40% are watching more TV; and 38% are reading more magazines or newspapers
I’m not sure what all this means for nonprofit fundraising and communications except I’m struck by both the numbers and the level of listener engagement. I firmly believe that any medium that links closely to a listener’s interests and holds her attention is worth exploring.
That’s why I wanted to get podcasting” on your watch list.
Would sure welcome your thoughts, insights, and experiences with podcasting.
Roger
P.S. Take a listen. Two of the podcasts related to fundraising that I subscribe to are Tony Martigetti’s Non Profit Radio and Jeff Brooks’ and Steven Screen’s Fundraising Is Beautiful.
P.P.S. Stay Updated. For the latest on the podcasting industry – content, new programming, advertising, research – I recommend Nick Quah’s Hot Pod.
Great intro Roger! I am a podcast junkie too since it sure makes life’s more mundane activities like exercising much more interesting.
Since so much of fundraising is storytelling, this makes a ton of sense. Why would I not want to hear a heartwarming story from a charity I am supporting once a week or month…