The news this week that music streaming service Spotify has made two key acquisitions in the podcasting business is further testament to the growth of online audio content.
The firm, which has 207 million active users (as of 31 Dec 2018) across 78 markets have bought podcasting platform Anchor and podcast producer Gimlet Media.
In a blog post, Spotify CEO and founder Daniel Ek says that consumers spend roughly the same amount of time on audio as they do on video. And while Spotify is known mostly for music streaming, he believes there is a huge opportunity in podcasting.
The quote above makes perfect sense when you consider the almost daily reports about the time spent on screens. Even Apple acknowledged that and introduced its Screen Time app last year to help us cut down.
There is room for multiple types of digital (and traditional) media. So, while we didn’t stop listening to radio when TV came along, nor have we stopped consuming online audio even though video has been big news in recent years.
“Sometimes the story or information works best in video, sometimes in audio, sometimes as an article or graphic,” says Communication Generation founder Steve Randall.
“If you are only creating one type of content and it’s not reaching your target audience effectively – or the content you have is better suited to audio, then podcasting could be the answer,” he added.
Contact us to find out more about how podcasting can work for you.