PodCrash, PodFraud, The Rise of the CAO, and the Sweet Sound of Civility - Media Roundtable Takes a Look Back at 2023 in Audio

2023 was a BIG year for all things audio. The Media Roundtable takes an inside look at the stories and trends shaping the soundwaves. Back on the host microphone is Oxford Road Founder & CEO, Daniel Granger with fellow agents of influence James Ingrassia , Spencer Semonson , and Stew Redwine .

We’re taking stock of this landmark year in audio with a special look at the so-called Podcrash, the industry impact of big brands and big brand bucks, YouTube ’s surprise rise as the top place for podcast discovery, and a whole lot more. Let’s dig in.

“Audio is its own unique language. It has shades of digital, shades of influencer, shades of traditional media–it is all of them and it is none of them.”

– Dan Granger, Oxford Road Founder & CEO

• Big Brands, Big Bucks, Big Mistakes? ?? – Just as we called the end of “dumb money” with the end of big, exclusive celebrity podcast deals, the shift to brand advertisers is also changing the industry. Big brands entering the space should lift all boats, but the new companies don’t have a Chief Audio Officer who understands how very different audio can be, meaning those brand dollars could exit the industry as quickly as they entered.
• Authenticity and AI ???? – You can’t talk 2023 without discussing the leaps AI has made. Clone voices are out there–but when a host can endorse anything without really endorsing it, what does that do to trust? Similar to how live sports is a bulwark against ad skipping on TV, we’re calling out authentic, bespoke host reads on audio as a stronghold of trust with audiences.
• YouTube: Not An Afterthought ?? – According to a Cumulus Media and Signal Hill report, YouTube is the top place for Podcast discovery. Podcasters doing YouTube right is now a niche element of our niche industry. Still, if brands can recognize and utilize the right partners, the ongoing discoverability of episodes (and baked-in ads) could be huge. It’s going to take the right sherpa to guide those campaigns in 2024.

Which industry-shaking waves have crashed, and which are just beginning? For every CAO steering a brand through rough waters, you owe it to yourself to tune into the full episode by clicking the link below.

The Classifieds

Come On Get Happy

The end of the year is generally a time for reflection, looking back on what could have been changed, and what could be better. In our industry, that means we see heightened performance on podcasts scratching that itch. Dr. Laurie Santos knows a thing or two about dilemmas associated with happiness, and that’s why she launched The Happiness Lab. This Premiere Digital Services staple has been an Awards Darling and Chart Topping Iconoclast ever since it premiered on Premiere. The show has a loyal audience favoring science-backed rhetoric as a chosen path along their mental health journey. Topics covered vary significantly, from friendship preservation and life hacks to coalition-building tactics that push for social change. Many of our clients have found success in aligning with the show’s self-improvement messaging. Especially those with a demographic of parents earning a high household income.

The Good Life is a Process

As those of us who frequently rewatch The Good Place know all too well, the idea of what constitutes a good life is a continuously evolving ideal.? Podcast Host, Author, and Speaker Jonathan Fields wants us to live a fulfilled, good life, and he’s working with Acast to help us do that. Each week Fields interviews a variety of guests to showcase differences in opinion and points of view when it comes to lifelong goals, aspirations, and values. Fields' recent guest roster reads like a road map for success: Anand Giridharadas, Jonah Berger, Dr. Mariel Buqué, and Cleo Wade to start. One of the most recent episodes covers year-end reflections and bucket list to do’s before 2024. Any advertisers needing to reach an audience composed of self-starting, persevering individuals should take advantage of this high-performing selection.

In Case You Missed It

It’s All About the Listener Relationship

The podcast industry is experiencing a slowdown amid economic challenges, with major players tightening budgets and being more selective in deals to land big-name celebrities. While the market has seen significant growth, the current economic downturn has led to declines in ad spending, show cancellations, and hiring freezes. The health of the podcast marketplace isn't contingent on publishers paying megabucks to celebrities anymore. As Georgina Holt from Acast put it: "...Ad effectiveness is not simply just about the size of the star of the show, but the depth of the listener relationship."

The ANA’s Wake-Up Call on Programmatic

A study by the Association of National Advertisers (ANA) finds that only 36 cents of every dollar spent on programmatic advertising effectively reaches consumers. The report suggests marketers should reconsider their approach, focusing on trusted programmatic media sellers, broadening media horizons (e.g., audio), and utilizing private marketplaces. Of course, marketers should invest more in audio. :) Some people in the industry see programmatic as the future of digital audio. Programmatic will certainly become increasingly important. However, it's essential to ensure that the majority of programmatic audio spending is directed toward effectively reaching consumers.

Say Goodbye to Google’s Podcast App

谷歌 is discontinuing its dedicated Google Podcasts, shifting focus to a centralized podcast destination on YouTube Music. Google aims to leverage YouTube's broader audience for podcasts and enhance creators' tools. The Google Podcasts app will be available until March 2024. We don't need to talk about the popularity of YouTube as a platform to consume podcasts. Does centralizing podcasts on YouTube Music mean that YouTube will capture more podcast ad spend? Listen to our 2024 predictions podcast in January to hear our perspective.

#SaveTheLiveReads

The “Approach Shot” Scores

As “Pioneers of Performance Audio,” at Oxford Road, the importance of matching clients to shows that will provide the most enriching and enticing advertisements possible for their brand is essential. It takes careful planning of detailed road maps for our clients like the components of Oxford Road’s Audiolytics? where structure creates the opportunity for excellence. Take the testimonies of John Asthon and Neal Michaels on their podcast The Approach Shot! This dynamic duo is all about analyzing professionals in their field. While entertaining their guest of the week Jeff Cirillo, a former Major League Baseball player, they provide a perfect setup for the unique design of MasterClass . As proponents of lifelong learning, John and Neal are the perfect hosts to substantiate why the MasterClass forum is the best out there today! Both give a detailed demonstration about the individual classes they’re currently taking and how they’ve gained new perspectives from their learnings. As a listener of this advertisement, you’re left with the desire to start a MasterClass yourself and level up to becoming an expert in something new too!?

If you've read this far, thank you!

The Influencer is a production from the team at?Oxford Road.

If you like our sometimes sassy, mostly informed POVs on the wonderful world of audio advertising, you should see what we do for our clients.

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