The Coming Podcast Day of Reckoning; Why the Cream Will Rise to the Top

    In the time since the 2016 article was written, the space has event taken a vast shift. Hundreds of thousands of show have “Pod-Faded,” meaning still exist in iTunes but no longer publish content and usually have less than 100 episodes. As of June 2019, of the over 700,000 shows in iTunes, only 18% had added an episode in the last three months.

    Enter the Online Marketers…

    Why? There is a glut of short-sited entrepreneurs and wannabe’s that rolled in thinking that podcasting was the next big internet marketing fad, and they would get there quick, easy fix.

    Why does Pod-Fading happen? There’s many reasons, but essentially new podcasters find out that building an audience takes work and if they do not have a different opinion or something unique to make them standout out; they quit.

    Is There Room for Professionals?

    The Death of iTunes

    If you haven’t noticed, iTunes got a little weird on July 24th. I’ve noticed that search has changed drastically; It hard for me to find my podcast under “Jeremy Slate,” unless I put in exactly “Jeremy Ryan Slate.”

    Another thing is only the top 100 chart for all of iTunes works as of the following Monday, sub charts do not work; the recent email from Apple says sub charts will now be removed until the new podcast app is launched.

    For the time being, a tool like Chartable still works and is actually show positions on the new charts; I was #90 in Self-Improvement this morning.

    The steps have started to shut down iTunes and launch the new podcast categories as well as a dedicated podcast app.

    The exciting part? There will be even more categories than before and they will be way more specific!

    How awesome is that? It’s a huge indicator that not only is the industry growing, but it will also be easier for users to find new shows they like.

    Why is this such a big deal?

    It’s about discoverability, making it easier for the listener to find new shows, that are exactly what they are looking for.

    If you have really good content it can now be found.

    What to do I mean? “Marketing & Management,” used to be the largest category in the business category, but both are very different things. Now, there is a “Marketing” category and a “Management” category.

    Previously, there was no category for entrepreneurship, though its a big deal, there was no place to put it that quite fit; now there’s a category for that.

    Overall, I think this will have a really big effect on growing the podcast space, because there are so many more, ultra specific categories.

    Where is Podcasting Going?

    Though all the above sounds negative, it’s actually a huge opportunity. The overall podcasting number has grown over 200,000 additional shows since 2018. Based on current growth trends, podcast advertising is predicted to hit $1.6 Billion by 2022; to which 78% of listeners found reported they didn’t mind the ads.

    In fact, Tim Ferriss, recently tried to go a model where he removed ads and went listener supported. His inbox was then flooded by individuals tell them that they missed the ads because they saw them as Tim’s recommendations. Given that, Tim is moving back to an ad supported model. He returned all donated money to listeners, including an Amazon gift card matching the amount of money they donated; 200% of their money back.

    Podcasting is the next wave of media that will continue to grow, as radio continues its slow demise, and moves towards listener demand driven content. As food for thought, would it be the end of radio if auto makers were to remove AM / FM radios from cars? There’s a good chance radio would not survive were that to happen.

    The point is, if you are going to create content or make a media appearance, the best use of your time and money for the foreseeable future is podcasting. That being said, the content has to be good, differentiated and actually valuable. Otherwise, you may end up with firsthand experience to what Pod-Fading is.

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    • Jeremy Ryan Slate is the CEO and Co-founder of Command Your Brand Media, in addition he is the host of the top-rated podcast, Create Your Own Life.

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