Live from MIP London
Acast UK&IE MD Josh Woodhouse on the Future of Podcasting
The podcast industry is moving faster than ever driven - in part - by the rise of video, new monetization models, and fragmented audience habits. At MIP London, Acast Managing Director for UK & Ireland Josh Woodhouse shared his perspective on where the creator economy is heading, in a session on scaling in video podcasting alongside Patreon, Podimo and Little Dot Studios:
1. On the Explosive Growth of Video in Podcasting
"The evolution into video has supercharged the growth that we saw off the back of COVID - which certainly was that hockey stick moment for podcasting. A lot of new creators entered the space and a lot of people discovered podcasting for the first time. And the step into video has been another big moment. The work we're doing with Little Dot Studios on YouTube for example, is opening up that video opportunity for monetization."
2. On Why Podcast Advertising Works - and Protecting the Listener
"If you look at the stats, 85% of people who have been exposed to a creator-led brand message have taken some form of action. It works, it's authentic - and that goes a long way. At Acast we protect the amount of ad load to make sure you don't reach saturation point because that’s important. But people also understand that podcasting content's free.”
4. On the Untapped Power of Smaller Creators
"I would argue, and we do often - if not daily - that the smaller creators, the ‘longtail’ creators have these communities that are so much more engaged. That's something that we really challenge a lot of brands to lean into: to understand that we offer a solution that allows the consolidation of that fragmented buying experience."
5. On the Ultimate Advice for Launching a Podcast Today
"Focus on the omnichannel strategy of your production. Video is important of course it is, but when you're building something from scratch audio is equally important. When you're thinking about it, it really is that halo effect of the audio, the video and the social all intertwined into one - and that that is the recipe for success."
