Podcasting is getting tougher for those who don’t already have a significant following, says a new report, as a few big names take most of the cash and get most of the audience.
Recent data shows that the top 25 podcasts reach almost half of regular US listeners, and the top 100 shows reach more than 60% of the total podcast audience. But it also shows that high-profile deals don’t always work out …
Podcasts date back to the year 2000, but it was Apple’s decision to support the medium in iTunes, with syncing to the iPod, which really took it mainstream.
Use of the RSS protocol meant that podcasting was about as democratic a medium as you could get. Anyone with a microphone and a passion could start a podcast, and make their show available to anyone with a podcast app.
Podcasting now ‘an industry of megastars’
But the WSJ reports that today’s world is very different – with big names getting the marketing splurge needed to take most of the cash, and most of the audience.
There are still nearly 450,000 active shows that have published recent episodes, according to Podcast Industry Insights. But the top 25 podcasts reach nearly half of U.S. weekly listeners, according to Edison Research. The top talents have tours, merchandise and multiyear deals in the nine figures […]
Alex Cooper is nearing a $100 million deal for her “Call Her Daddy” podcast with Sirius. Trevor Noah is in talks to reup for a second season with Spotify. Joe Rogan inked a deal with the audio giant worth up to $250 million […] Podcasting is turning into an industry of megastars
Edison data reveals that the top 10 podcasts account for a full 35% of the total US audience, and the top 100 reach 61% of listeners.
Though not all big deals work out
Spotify bet big on podcasting as a way of increasing its revenue, turning what was traditionally an open protocol into platform-specific exclusives. Amazon’s Wondery podcast unit has also been signing some big deals.
But not all of those deals worked out, with the biggest flop being the Archetypes show with Prince Harry and Meghan Markle. That cost Spotify $20M, and only one show ever aired.
The tech industry is being more cautious now, with contracts tying payouts to hitting audience targets, says the report.
iOS 17 impact still a factor
Apple was blamed for a reduction in the reach of some shows, with an iOS 17 change said to have reduced listener numbers – while the iPhone maker retorted that it actually painted a more realistic picture of the actual numbers.
With the release of iOS 17, Apple Podcasts no longer automatically downloads new episodes if you don’t play a podcast for the past 15 days — or if you’re running low on storage. And once you return to the podcast, Apple Podcasts won’t download the old episodes you missed — although automatic downloads will resume.
One company recently claimed that decision cost them $9M.
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