Media Roundtable Special Edition: We Nailed 9 of 10 of our 2023 Predictions - What’s Next for 2024?
Chief Audio Officers, as we plan for 2024, it’s the perfect time to go back and see how well we predicted audio in 2023. Because as Churchill said; “Those that fail to learn from history are doomed to repeat it.”
So how did Oxford Road do on our 2023 predictions? TL;DR, scary good. Like a 90% hit rate. And not to toot our own crystal ball, but for all the CAOs who care about where audio is heading, you’ll want to hear what we think is coming down the RSS feed in 2024.
Hosting the Media Roundtable once more is Oxford Road Founder and CEO, Daniel Granger , joined by fellow Podcastradamuses James Ingrassia , Spencer Semonson , and Stew Redwine .
“[Audio] is the last kitchen table conversation that exists in this country.”
So, let’s recalibrate our crystal ball and make a full tarot deck’s worth of bold predictions that’ll no doubt shape your year and budgets.
1. Grading our Homework ??
We made 10 predictions at the beginning of 2023 and 9 came true (the 10th was about an emerging remnant marketplace–we think we’re still right on it happening, but wrong on the timing). Some of our top-called shots:
The Age of Verification ? - We predicted a significant focus on ad delivery verification with more emphasis on where ads land in podcasts and standardizing verification– that hit in a BIG way.
Brand Safety and Suitability ?? - We said the tools were coming to make it safe for big brands to enter the podcast space and they absolutely arrived.
Big Brand Bucks ?? - We predicted a shift from D2C to brand advertisers (helped by the brand safety tools) and that happened in a very real and measurable way.
2. How we see 2024
To help you make better choices (and also hold our feet to the fire come 2025) we’ve compiled one handy source of truth of all our expert predictions for 2024.
What kind of 2024 are we tuned into?
Plus, our experts are calling some other big shots for 2024:
For full breakdowns of these bold predictions and a whole lot more (including Oxford Road’s hot dog marketing experiment and Spencer’s lasting anti-iPhone bias) listen to the full episode by clicking the link below. For a full, detailed report on all of our 2024 predictions, click here.
The Classifieds
领英推荐
The Podcast Host Will See You Now
In the crowded landscape of true crime, it’s rare to see new successes in podcasting. Mr. Ballen (internet personality and former Navy Seal Jonathan B. Allen) just entered the podcast space in 2020 and swiftly received an 亚马逊 -exclusive partnership by 2022. Wondery ’s new MrBallen’s Medical Mysteries is a highly produced investigative series focusing on medical curiosities that often flirt with grotesque and intense themes. Cases range from mysterious ailments to short-lived pandemics and lean into the paranoia and anxiety that often accompanies true crime content. If you’re looking for a health and fitness podcast that doesn’t feature self-improvement or alternative medicine content, this is an optimal choice. It’s also a great option for those looking to align with consumers willing to pay for subscriptions, as most Ballen content is only available via Amazon Music .
Staying on Theme
We’ve all been there: You promised yourself you would go to bed early and instead watched a 4-hour video essay. Followers of YouTubers Wendigoon, penguinz0, and Jackson Clarke are very aware of this phenomena and therefore have been eagerly awaiting the group’s new podcast Red Thread.? The Mana Network offering has already covered topics such as Heaven’s Gate and The Mothman. Much like their ‘video only’ content, the show features a loose conversation among the trio, peppered with factoids and research from whoever is hosting that week. Though their YouTube content doesn’t often fall into the category of “brand safe” it’s a much more nuanced and tempered format. Direct Response advertisers in the B2C space are already taking advantage of this offering in Q1. Anyone with a young-skewing male demo is also highly recommended to test before the year is booked up.
In Case You Missed It
Do You Hear That? Most Americans Do
The latest nugget from Edison Research 's Share of Ear study shows that ad-supported audio reaches 84% of people 13+ on a daily basis. Even among 18–34 year-olds, 82% are reached daily. Edison defines ad-supported audio as AM/FM radio, podcasts, ad-based streaming services such as Pandora , the spoken-word channels on SiriusXM , and free use of YouTube for music videos. We have some issues here including YouTube, as that seems more like video to us. However, the finding still holds up that audio is an effective and efficient way to scale reach, even among younger demographics.
Sticking with Those New Year Resolutions? Podcasts Can Help
Research from SiriusXM Media shows that three in four listeners set New Year's resolutions, seeking guidance from their favorite hosts. Podcasts inspire personal development, with 43% finding motivation and practical tips. Financial wellness is a focus, with listeners turning to podcasts for guidance. For brands with Q1 seasonality, especially those in categories like financial planning, weight loss, and fitness, there’s a big opportunity to tap into the connection hosts have with their audience to increase relevance.?
The End of Radio is Nigh? No, Not Really
Audacy, Inc. has entered into a prepackaged Chapter 11 bankruptcy and is aiming to reduce its total debt from $1.9 billion to $350 million. The agreement allows Audacy to address financial challenges caused by ambitious acquisitions coupled with a decline in radio ad spending. One of the largest audio companies going through bankruptcy could cause marketers to be cautious about radio advertising. It shouldn’t since it will have virtually no impact on listenership.
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