It’s been a busy week for the Sounds Profitable crew. So busy, I’ve broken into the draft document and taken over this week’s newsletter. Hello, all, Gavin Gaddis here, ready to bring you a fun, sexy Sounds Profitable. An entirely authorized decision, I promise. It’s not like I’m hurriedly typing this while Tom and Bryan have their backs turned. Let’s go over some highlights from this week and what they mean in the big picture.
A New Face
Our first big announcement of the week: on Monday, Sounds Profitable has a new member of the team! As covered in Variety, former UTA executive director of business development and podcasts Kristin Myers has joined the company. The onboarding of Myers is a step towards Sounds Profitable’s goal of growing the podcast into untapped opportunities in industries adjacent to audio, such as film/TV, books, gaming, nonprofit, and emerging tech. A quote from Bryan Barletta:
“Podcasting is now an unavoidable word in media. It’s weathered two decades of open growth, a pandemic-fueled boom and bust, more than its fair share of ‘SNL’ jokes at its expense, but ultimately, it’s proven just how valuable it is globally as a form of entertainment and information. The addition of Kristin to the Sounds Profitable team adds immense value to our existing partners while simultaneously amplifying what we’ve built over the last four years to major industries that fully acknowledge audio, and podcasting, need to be part of their plan.”
What Audiences Want
This Wednesday Tom Webster gave a keynote presentation debuting data from Sounds Profitable’s latest edition of The Podcast Landscape, produced with Signal Hill Insights. According to the report, 2024 is the first year the majority of the population are podcast listeners. Even with that growth, word of mouth remains king. 56% of respondents say their main avenue for podcast recommendations, and 54% recommend shows to their peers.
After personal recommendations, YouTube was the top way people find new podcasts, but Webster warned podcasters to be wary of video content that is not of equal quality to their original audio-only production.
One perspective Webster would like attendees of the talk to walk away with is the concept that if podcasting is going to sell itself, we need to be sending our own celebrities.
“I would like the stars of podcasting to show up and be there. Support the medium, the benefits of podcasting.”
Podcasting will not manifest its own Got Milk-style awareness campaign out of thin air without the crucial ingredient of our biggest and brightest chipping in to promote podcasting in general. The full Podcast Landscape 2024 report will debut Wednesday, August 28th at 2:00 p.m. EST in a live webinar hosted by Tom Webster. Registration is free and open now.
Podcasting Live and In Person
For the 20th anniversary of Advertising Week, AW New York is debuting interactive ‘Zones’ to spotlight new technology, focused thought leadership, and provide a dedicated space for the industry’s education and collaboration.
We are thrilled to announce that Sounds Profitable has partnered with Advertising Week to enable the Podcast Zone. The Zone will include a dedicated exhibition floor, a track of thought leadership presentations, focused business and networking opportunities, special events, and a bespoke Podcast Zone Podcast produced during the event.
From hosting a Business Leaders Lounge at Podcast Movement to the first day of SXSW panels dedicated to the business of podcasting, live events have been a key component of Sounds Profitable’s mission to uplift the podcasting industry. The business of podcasting has become great at selling itself to the usual suspects. By promoting our industry at major events with the same fervor as other mediums like film or gaming, podcasting can demonstrate its power to a new generation of brands. Brands that can take podcasting to a $3 billion industry, and beyond.
