MRT’s ‘24 Year in Review; Spotify’s “Wrapped” for CAOs; “Explosive” 2024 Podcast Trends; Edison’s 2024 Recap; The FBI Negotiator and the Podcast Host
The Media Roundtable is back! This week, we’re taking a look back at the biggest trends that shaped audio in 2024. It’s an epic recap of a huge year for our industry.
Daniel Granger (CEO, Oxford Road & Veritone One ) hosts:
?? James Ingrassia - EVP, Client Service, Oxford Road
?? Stew Redwine - VP Creative Services, Oxford Road
?? Miranda Romano - SVP, Media, Oxford Road
?? Neal L. - EVP, Strategy & Product, Oxford Road
?? Conor Doyle - President, Veritone One
The team is talking: the Podcast Election, Big Money Deals, the Rise of Video, and so much more. Let’s dive in.
“Anybody that tries to change what the audience wants is crazy.”
The Rise of Video? ?? - We’ve spilled a lot of digital ink on YouTube and Spotify ’s video push for good reason. Whether you think it’s good, bad, or a mix for podcasting, video’s influence is undeniable. We take the POV that video and audio support each other well, and even more importantly – the audience wants ultimately wins. It’s the audiences’ job to go where they want and a CAO’s job to meet ‘em there.
Big Money Deals ?? - 2024 saw a resurgence of 9-figure podcast deals, but instead of mainstream celebs scoring the BIG bucks, these deals favored podcast hosts for shows like; JRE, Call Her Daddy, Smartless, Armchair Expert, and New Heights. These investments were all about doubling down on proven consistent show performance. Recognizing the influence of top-rated podcast hosts was especially insightful given the outcome of November 5th.
The Podcast Election US - Was any media more influential in the election than podcasts? Long-form interviews with trusted hosts broke through the media landscape. We think after the election, conversations around brand safety and politics are shifting, and prioritizing civil discourse is more important than ever.
To fully grasp just how much our industry has changed in 2024 (and to prep for 2025) tune into the full episode below.
Bonus! Grading our 2024 Predictions
Last year, we made predictions on overarching industry trends and took swings on side predictions. So, how’d we do?
Hits ?
Growth ?? - We predicted growth in listenership, business revenue, and content investment across the industry. Nailed it. ??
Side Predictions Hits ?? - Simulcast dominated, legal action was taken against a brand for a personal endorsement, brand safety tech solutions became a standard offering from podcast publishers, and most important, we changed our intro music for the Media Roundtable ??.
Mixed Bag
AI Harm ?? - We thought AI would do more good than harm but it’s been even keeled.
Misses ?
CPMs ?? - We predicted declining CPMs for podcasts, radio, and streaming – it didn’t happen. While 2023 was a buyer's market with networks desperate to get rid of inventory, in 2024, we saw sold-out shows and premiums on CPMs. CPMs have climbed, with averages reaching up to $30.
Standard Definitions vs Chaos ???? - We predicted chaos, and saw an effort for standardization. Of course, BIG fish like YouTube and Spotify have made it increasingly difficult to make a standard definition for the word “podcast” with their heavy push toward video.
Side Prediction Misses ?? - Pixel attribution didn’t decrease, Apple didn’t make a big acquisition in audio, and Taylor Swift didn’t make a podcast. (Apple, if you want to turn it around, feel free to greenlight the Swiftcast by 12/31).
Worth noting, the group consensus hit rate was 65%, better than most individuals. Moral of the story? If you want to predict the future, average your bets together as a team. Or, just listen to Spencer Semonson who went 6 for 8.
The Classifieds
The Early Bird Gets the DR Worm
Network: Gemini XIII
领英推荐
Monthly Downloads: 1M
As previously mentioned, video has continued climbing in relevance within the audio space, so let’s highlight some video-only options that are open for your testing dollars. Our first is a true OG of the YouTube media landscape, hosted by multi-hyphenates Rhett & Link. Though this duo’s empire also includes their well-known Ear Biscuits podcast, most video lovers know them from their home platform endeavors. Rhett McLaughlin and Link Neal also hold the distinct honor of being named the Second Most Influential Content Creators of 2024 by Rolling Stone. And, their microphones and blindfolds are on display at The Smithsonian National Museum of American History. Rhett & Link’s videos are a hotbed for DR advertisers seeking fresh shiny opps in the coming year, especially those who want brand safe content with squeaky clean hosts. If you want in on this breakfast, put on a bib, pull up a chair, and savor the link below.
The Pick-Me’s Should Take Several Seats
Network: Headgum
Monthly Downloads: 50k
For those looking to make the jump from influencer marketing to YouTube , small female creators often prove to be the linchpin. They’re often deeply honest, scathingly funny, and chronically online, easily building a small but fervent fan base, intent on showing brand loyalty. Maddie Dragsbaek has proven to be one such personality, having built a combined fan base of 300k just this year alone. Her content has resonated with Gen Z women who want blunt, focused feedback from a confident fashion baddie. In her most recent videos, Maddie has espoused the importance of being resilient, shared the obstacles of being plus-sized, and she’s given unabashed dating advice. Though still building her internet fame, Dragsbaek has enjoyed multiple sponsorships from strong DR advertisers looking for ‘best in market’ performance. If you want to connect with this niche, engaged audience, swipe right to the link below.
In Case You Missed It
?“The Other” Spotify Wrapped
Spotify Wrapped 2024 celebrated the year's most notable moments in music, podcasts, and audiobooks. Key highlights included Taylor Swift as the most-streamed artist, The Joe Rogan Experience maintaining its position as the top podcast, and the rise of video podcasts. Rogan and video might get the headlines, but remember that Spotify , at its core, is a platform for streaming music. In fact, according to Edison Research, 74% of P13+ time spent with audio is devoted to music.
Exploding Topics Highlights Podcast Trends
The podcasting industry in 2024 is shaped by significant trends including: Podcasters Find New Ways To Monetize: Podcasters use subscriptions ( Patreon ) and exclusive content platforms ( Luminary ) to diversify income; Live Podcasting Continues To Grow: Popularity grows, with 1 in 10 hosts opting for live shows, bolstered by platforms like Podbean and live events; Podcast Listeners Crave Learning: Podcasts increasingly serve as a learning tool, especially; Podcasting goes global: AI translation tools make podcasts accessible worldwide, expanding the audience beyond English speakers. There's a lot of cool stats in this report. The use of search queries to show the growing interest in podcasting is especially interesting. Note to ourselves: Check out the OBSBOT webcam to improve how we show up on the Media Roundtable podcast.
Edison Research Shares Its Top 10
Edison Research ’s Top 10 Findings of 2024 highlight major audio and media trends. Smart devices dominate, with 93% of Americans owning smartphones, smart TVs, or smart speakers. YouTube leads podcast listening platforms, while Spotify is now the top source for discovering new music. Podcast habits vary globally: UK listeners favor public transport, while US audiences prefer True Crime genres. Gen Z and Millennial Latino listeners often enjoy podcasts socially. Female sports fans actively engage with sports audio, and kids podcasts are increasingly popular. Streaming and podcasting are growing rapidly in time spent but AM/FM still leads with 36% of audio time. We might be a bit biased, but we’d add podcast monthly listening reaching 47% of P12+ as another key finding.
#SaveTheLiveReads
Invisible Choir Sings Praises of MasterClass
The Invisible Choir podcast, known for its gripping true-crime storytelling, highlights the benefits of MasterClass in a recent episode. This exceptional ad emphasizes the transformative lessons learned in former FBI hostage negotiator Christopher Voss ’s course, which host Michael Ojibway finds invaluable in his everyday life. Praising the platform's exceptional variety of topics, high production quality, and accessibility, Michael shares his experiences with writing and negotiation classes, underscoring how MasterClass stands out as a gift for learning and personal growth. But what puts teeth into this read is the Offer, showcasing MasterClass as the perfect holiday gift for friends and loved ones, providing a limited-time offer of up to 50% off for show listeners. Having a timely offer is the 6th key component in Oxford Road’s Audiolytics? framework and will undoubtedly impact performance. For CAOs seeking better performance in ad campaigns, this is the way, especially during seasonal peaks like the holidays.?
If you've read this far, thank you!
The Influencer is a production from the team at Oxford Road.
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