“Wow” Moments from Podcast Movement 2017
Podcasting is an excellent tool to expand and deepen your brand. Jeff McHugh highlights the key takeaways from Podcast Movement 2017, including how to monetize podcasts.
Randy
What if I told you that right now there is a New York City radio cluster making more money from podcasting than from AM/FM?
My jaw dropped when I heard that, sitting in the audience last week at Podcast Movement 2017, the convention for podcasters.
I said “wow” a lot at Podcast Movement. Here are the knockout-punch ideas I took note of that indicate podcasting holds an exciting, bright future for exceptional radio talent and great storytelling.
Term to know: “Digital Insertion.” If you post a podcast ad for Target today, that ad can be updated for tomorrow, next week, or next year so that listeners downloading later get the updated ad. You can also update content. “The Daily” from The New York Times updates their daily news headline podcast with digitally inserted stories throughout the day. Digital insertion allows smart podcasters to make new ad money from their library of years-ago podcasts too. And, Bobby Bones digitally inserts local mentions of his appearances for podcast listeners residing in markets where he visits.
Make your show on-demand – it works. Chris Peterson, head of podcasting for iHeart Media says that their established “tent pole” shows are scoring huge TSL through podcasting, and Nielsen counts it towards PPM if heard within 24 hours. Popular shows get fan complaints if the audio is not posted by 10:05 every day, and there is zero evidence that podcasting takes away terrestrial listenership. Rob Walsh, VP of Libsyn equates podcasting to when NBC’s Saturday Night Live posted the “Dick In A Box” skit on YouTube. Posting that on-demand content expanded SNL’s audience (including the many cable cord cutters who never watch NBC) and converted some online viewers into fans of the TV show. The same is true for podcasts. Would you rather that afternoon drive commuters listen to your morning show via podcast, or to some other podcast?
Your interests can align organically with advertisers. Sheri Lynch of the syndicated radio Bob and Sheri show was never good with money. When her AM/FM cluster in Charlotte was about to lose a big buy from an investment firm, she suggested they do a podcast together where she could ask questions and learn along with the audience. The “Her Money” podcast was born and the investment firm moved a six-figure buy into the podcast.
Clever ways to promote podcasts. Hosts like Mike Carruthers of “Something You Should Know” emails interview guests before they come to the show with suggestions on what to post on their social media to direct fans to the podcasts. Other podcasters work out deals to promote their podcast on other podcasts with similar audiences. And as you would expect, AM/FM hosts have ongoing awareness campaigns for their on-demand shows for radio listeners.
More money in podcasting than in AM/FM? It is happening today in New York City. Hal Trencher, VP of sponsorship for WNYC manages revenue for their AM/FM, classical WQXR and for the New Jersey public radio network. They turn all their radio shows into podcasts. Radiolab, Freakonomics Radio and The New Yorker Radio Hour and others have surpassed their terrestrial revenue. Say hello to thefuture.
Podcast Movement was so exciting and informative that I have already registered for next year’s convention in Philadelphia. We strongly recommend that you attend if you can.
You can learn more from PM 2017 with these blog entries from Steve Goldstein of Amplifi Media, Dave Beasing of 100.3 The Sound in LA and from All Access.com.
