Insights from the world of podcasting

Experts from the Bureau of Investigative Journalism, the Financial Times and Harvard Business Review give advice on creating and maintaining a successful podcast brand.

In 2014, spoken word audio accounted for 12 percent of what 13 to 24-year-olds listened to. In 2022, it accounted for 26 percent. It’s clear, then, that podcasts are becoming increasingly popular. But are you ready to join the podcast revolution?

At Web Summit 2022, leading audio industry experts shared their wisdom on what it takes to create a successful podcast. From considering a multiplatform approach to getting to grips with metrics, here’s what they had to share.

What can podcasts do for you?

“The data that we did have from Spotify showed that listeners
were all in their 20s and 30s, which is really exciting for a
traditional organisation like the [Financial Times (FT)] – to
get these younger consumers … [Platforms such as Spotify are]
a really good way of introducing the FT to younger consumers …
demonstrating how valuable the FT can be to them in their daily
media consumption, and then slowly starting to bring them
back to the FT to become readers and paying subscribers, and to
build their lifetime value as we go forward.”

– Alastair Mackie, head of business development for audio and visual at the Financial Times

Why is the medium special?

“We see [podcasting] as a way to deepen that one-on-one relationship and make sure you actually have a connection with some of the people who make the content of HBR, or some of our experts. There’s a different way that you connect with them when you hear them.”

– Maureen Hoch, editor at Harvard Business Review’s HBR.org

What’s in frame?

“Reluctant podcast hosts tend to have short-lived podcasts. And I think some
big brands have made mistakes in that area. It really works when people are
into the projects … A lot of podcasts that people ended up listening to is because
they like the vibes; they like the in-jokes; they like the team. But it’s got to have
some frame. And then you need a frame that can last.”

– James Ball, global editor at the Bureau of Investigative Journalism

What are the challenges?

“I think we need better advertising and tracking metrics. I mean, everyone hates
ad tracking. But podcast advertising is still in its infancy. It makes less money
than it should. That’s screwing creators. It means the content isn’t as good as it
could be. That’s a known problem. That’s been a data problem for over a decade.”

– James Ball, global editor at the Bureau of Investigative Journalism

What does the future look like?

“I would say multiplatform. You’re gonna see more podcasts on YouTube; that are
in your podcast app; that have other forums; that have newsletters. People are
going to be building out a real network around shows that have something to say
and have a voice.”

– Maureen Hoch, editor at Harvard Business Review’s HBR.org

Join us in Lisbon this November to learn from more exciting media experts. Get your Web Summit 2023 ticket now.

Main image of James Ball, the Bureau of Investigative Journalism’s global editor, speaking at Web Summit 2022: Lukas Schulze/Web Summit (CC BY 2.0)