Debunking the Hype around Video Podcasts
In today's edition, we dive into a topic that has been generating quite a buzz in the past months: the hype around video podcasts. While video podcasts have gained significant popularity especially in the U.S., we aim to dissect the hype and explore whether it lives up to its expectations. Join us as we separate fact from fiction and uncover the truth behind the hype.
The Visual Temptation
It's no secret that humans are visual creatures. With the rise of video platforms and the widespread availability of high-speed internet, the allure of video content is undeniable. Video podcasts, also known as vodcasts, capitalize on this fascination by combining the convenience of audio with the visual engagement of video. The ability to watch hosts interact and observe visual aids can indeed enhance certain podcast experiences.
The Hype Machine in Overdrive
Most recently, the industry has witnessed an unprecedented surge in video podcast production. Numerous media outlets, corporations, and influencers have jumped on the bandwagon, citing the allure of higher engagement, wider audience reach, and enhanced monetization opportunities. However, it's crucial to question whether these claims are grounded in reality or merely a byproduct of the hype machine, especially pushed by Spotify and YouTube.
Debunking the Myths
Let's take a step back and examine some of the common myths perpetuating the hype around video podcasts:
1. Increased Engagement: While it's true that visual content can captivate attention, the key to engagement lies in the quality of the content itself. A visually appealing video podcast won't automatically guarantee higher engagement if substance and storytelling fall short. For example, the Joe Rogan Experience being the biggest podcast in the world has currently around 11 million streams per episode on Spotify (according to Spotify). On YouTube, an average episode came in at around 10 - 15% of streams in the first 4 weeks. Of course, there are some exceptions like the episode with Elon Musk or Kanye West.
2. Wider Audience Reach: While video platforms like YouTube and Twitch boast immense user bases, it doesn't necessarily translate into a broader audience for video podcasts. Traditional audio podcasts continue to thrive, with a dedicated listener base that prefers the convenience and portability of audio-only content. Even though YouTube is the no.1 platform for listening to podasts (33%) according to a study by Morning Consult, two thirds of all podcast listening is done on audio-only platforms. And watch out YouTube, because according to a Morgan Stanley survey Spotify is the fastest-growing music streaming service in the U.S. because of it's podcast business. And especially for creators and companies in GSC (German-speaking countries), a market with around 60 - 70 million listeners in total also needs to be taken into consideration. Especially in comparison to the drastically higher production cost and resources needed.
3. Production cost: Producing video podcasts comes with a steep price tag compared to audio-only podcasts. The need for specialized equipment, including cameras and lighting setups, adds to the upfront costs. Technical expertise, staffing, and studio space increase the production expenses further. Bandwidth and storage requirements for video files incur ongoing costs. In contrast, audio-only podcasts can be created with minimal equipment and a very small team, making them a more cost-effective option. Podcasters must carefully consider their financial capabilities and the potential returns on investment before investing into a video podcasting.
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The Reality Check
Despite the hype, video podcasts aren't always the best fit for every content creator or audience. It's essential to assess your goals, audience preferences, and available resources before venturing into the wilderness of video podcasting. Audio podcasts have their own unique strengths and continue to thrive, providing an intimate and immersive experience for listeners.
The Bottom Line
While video podcasts have their merits, it's crucial to differentiate between the hype and the reality. It's not a one-size-fits-all solution and should be carefully evaluated based on your content goals and audience preferences. Remember, the heart of podcasting lies in the storytelling, and whether it's done through audio or video, captivating content will always be the key to success. And this runs true for individuals, institutions and corporates alike.
TIP
We have a special offer for all German-speaking readers of the Chatter. A few days ago we had a Ask Me Anything session with our Director Consulting Florian Kondert and we have taken the time to turn the session into 13 short video podcasts (;-)