A podcast is a great way for people to stay up to date on their favourite topics, learn new information, be entertained, or simply connect with new communities of like-minded people. While for savvy businesses and brands, the benefits of having a successful podcast can’t be underestimated; with some studies showing that 61% of listeners have purchased a product or service after hearing it on a podcast. It is clear that while content is king — audio is certainly queen.
It’s been recorded that there are currently over 2 million podcasts in the world and that this year, podcast listeners are set to make up 20.3% of all internet users. It’s safe to say, consumers are pretty obsessed with audio. So, why are podcasts so popular?
Some have correlated the boost in podcast popularity to COVID-19 and pandemic lockdowns, believing that this created an unprecedented effect on people’s media consumption driven by screen fatigue. It’s been reported that in the U.S. 22% of consumers listened to podcasts more than usual during the pandemic.
The ease of use also plays a huge role, with over 100 million AirPod users, and over 75% of homes set to have smart speakers by 2025, podcasts are truly accessible. People can listen to podcasts anywhere and at any time — whether travelling to work, at the gym or cleaning the house.
With the industry showing no signs of slowing down, we’re going to give you a rundown on the biggest 6 Podcast trends we are seeing emerging for the years ahead, and how you can capitalize.
1. Short-form Audio
Traditionally, podcasts are episodic, meaning they are released on a regular schedule (weekly, bi-weekly, monthly, etc.), and each episode is usually between 30 minutes to an hour long. With the rise of apps like TikTok however, it’s become apparent our attention span is declining, particularly among younger generations. Some reports state the average millennial’s attention span is just 12 seconds, with it dropping to 8 seconds for Gen Zs. So the point? You don’t have long to grab someone’s attention and reel them in.
Overall short-form audio is easier to distribute, as well as being more reusable, engaging, and able to hold the attention of a user. Also, from a production and cost perspective, short-form audio just makes sense! Creators can spend less time and money producing lengthy episodes, that often people don’t have time to listen to and keep a larger portion of profits.
2. More 2-way Conversations
While podcasting was once built on the dynamic of a one-way broadcast model, there is more demand for creators and brands to facilitate authentic two-way conversations. This trend is being driven largely by younger audiences, who want to be active participants and co-creators in online communities and more importantly want to feel heard; with one study suggesting 44% of Gen Z want to be in on product design, and 66% believe a successful brand should value their opinion.
Some apps like Spotify are already experimenting with features like Q&As to allow listeners to instantly weigh in on topics, and 47% of Gen Zs said they’ve joined other digital communities on platforms such as Discord, to chat with other fans of a particular creator.
3. Live Podcasting
In the future, we will start to see more brands and creators moving from an “on-demand” model to podcasting live. Live podcasting has a range of applications whether you’re hosting a webinar, at a conference, giving live coverage of an event or summit, or hosting Q&A’s with guests. This type of delivery will be another important way to boost engagement with listeners and share conversations live as it’s happening.
4. Authenticity
There is a role that honesty, authenticity, and vulnerability play in building lasting audiences and communities. Millennial and Gen Z listeners who value authenticity above any other personal value (Ernst & Young). These generations want to understand and connect people or brands’ values and mission, and they are quick to call out fakeness and tend to embrace quirks and flaws.
It’s a very fundamental human desire to feel like we are being spoken to genuinely, and when people are speaking and sharing in a raw and authentic way about their innermost thoughts and experiences — it builds a level of connection and trust. So, make sure when recording you are inviting people into your mind in an unfiltered way.
5. New Ways to Monetise
While the podcast industry is booming, so is the competition in the market. For this reason, we are already starting to see podcasters becoming increasingly more open to innovating, and finding new ways to monetise their communities beyond traditional ads and sponsorship.
6. Exclusive Content
It’s no secret that rewarding loyalty is key to building community and brand advocacy. Treat your listeners and they will keep coming back for more. Podcasts are starting to experience with ways to offer exclusive content to their audiences such as bonus interviews, behind-the-scenes chats, recaps and more.
Find out more about how Logcast can help you monetise your audio content by visiting our website or downloading Logcast from the App Store.
About Logcast
Logcast™ is a social audio network empowering the next generation of audio creators. Built out of Sweden, the app lets people record, share and monetize short-form audio updates (known as “logs”) instantly with one tap. For the first time, podcasting has been made social — you can follow friends, join conversations, share your ideas and earn money directly from your listeners. The app is available worldwide on the iOS App Store.
