Defining Podcasting for the Future
Edison Research and audio advertising agency Oxford Road are releasing a white paper titled, “What is a Podcast?: Preserving its Essence, Structuring for Expansion.” The authors says this report “reveals critical insights into how evolving listener habits, industry fragmentation, and ambiguity in podcast definitions are affecting podcasting’s future growth and commercial viability.” They say that data from a nationally
representative survey of over 4,000 people “identifies a significant identity crisis driven by the convergence of audio-only content and video formats popularized by platforms like YouTube and Spotify.” It shows: 1) 72% of Americans 12+ consider recordings of people discussing any topic on YouTube that are also available as audio-only shows elsewhere to be a podcast; 2) Advertisers face significant barriers to investment due to inconsistent standards, fragmented reporting, and unclear attribution; and 3) A clear, shared definition and interoperable measurement are urgently needed to realize podcasting’s full economic potential. Regarding defining podcasts, they propose new working definitions as follows: Podcast (noun): “An on-demand audio-driven program featuring episodic content across wide-ranging themes and formats. Traditionally delivered via open RSS and conversational in nature, it can include platform-based distribution and is commonly supplemented by video.” And Video Podcast (noun): “An episodic, on-demand program centered on spoken-word content, where synchronized visuals meaningfully shape the experience.” You can download the white paper here.
for millions in ad investment were surveyed about why audio lags in media investment and why brands stand to benefit from a larger feature in media plans. The study reveals that audio has what brands need most: spectacular reach, high levels of attention, tremendous audience, and powerful performance. As an example, Audacy points to a skin care brand that used a podcast and streaming campaign to drive increased sales. 
success of our digital transformation strategy led to a 10.4% year-over-year increase in same-station second quarter digital revenue, partially offsetting ongoing challenges related to softness in the audio advertising spot market. Digital revenue accounted for nearly 22% of total second quarter revenue, in-line with our full-year 2024 goal of 20% to 25% of total revenue. On the new business front, our dedicated sales teams are leveraging the audience reach and engagement of our platform to attract new advertisers. We have and will continue to see the benefit of political revenue through the end of year, and at the same time, we are taking aggressive action to address near-term challenges through expense management initiatives, which drove approximately $2 million in expense savings compared to the prior year. We expect to achieve $10 million in annualized expense savings.”
advertising. The five questions are: 1) Does audio work? 2) Can audio be planned and purchased at scale? 3) Are there creative best practices for getting audio right? 4) Can audio be measured? And 5) Is the brand properly set up for success? Fix says, “These five questions are important to advertisers, providers of audio, and the industry in general. Communication with advertisers is best when it is acknowledged as to the stage of the advertiser and the industry. Failure to identify and address each step in the 5-Question Framework will cause unnecessary delay.” 