So it turns out that Sunday September 30th was International Podcast Day. I will admit my ignorance that while I obviously recognize the the podcast industry has grown tremendously over the last decade and especially the last couple of years, I didn't know it had its own day.
For the uninformed who might read today's post, let's start by answering the question for " What is a podcast?" To begin with, let's understand where the name "podcast" itself comes from. It is basically the coming together of the words " pod" as in Ipod although it doesn't specifically relate to Apple in any way and "cast" as in coming from broadcast. So at most basic of definitions, it refers to a broadcast of some sort of portable digital media player. That's a good starting point, but try thinking of a podcast as “Internet Radio On-Demand.” It’s similar in that you can usually listen to it on your computer but it’s more than that. However, and not to confuse the issue, podcasting isn’t confined to just audio but can be video as well. With the amount of content that podcasting provides, regular Broadcast Radio, simply can never compete. The AM and FM radio band only has so many channels. Consequently, radio stations broadcast their content — meaning that they attempt to appeal to as broad of an audience as possible. Also, content is often dictated but the advertisers who provide the money which allow radio stations to continue operating. Podcasting however, is not necessarily dependent on advertising revenue. With its specific and specialized content, it is provide very specific content to only those who choose to listen. So while a particular podcast’s audience may be considerably smaller than the audience of a broadcast, one could argue that the podcast’s audience is a much more targeted and interested in the content being delivered. So, in a way, Satellite Radio, with its ability to provide more channels than Broadcast Radio, takes a step towards podcasting, but still does not come close. Podcasts are “On Demand” and can be listened to on your schedule, not when a Radio Station decides to air it. So, it’s kind of like recording something and being able to listen or watch it when convenient. Each podcast typically has a website where show episodes can be listened to or downloaded for future listening. With downloaded media, you can either listen to it on your computer or take it with you by transferring it to a portable digital media player or using a podcast app on your phone. So, in this way, it’s kind of like a small paperback book. But what truly makes a podcast unique, and what gives a podcast its “casting” ability, is how it is able to immediately deliver itself to multiple podcast distribution points (such as iTunes, SoundCloud or any number of other applications. Listeners can easily “subscribe” to podcasts (most are free), then the listener is then walked through how to add that podcast’s syndication “feed” to a podcasting application of their choosing. So, when a podcaster releases a new episode, subscribers are automatically notified without having to constantly check back with the podcast’s website to see if a new show has been produced. And, with the podcatching software, episodes of their favorite podcasts can be automatically downloaded — all without having to lift a finger. So, in this way, podcasts are like magazine subscriptions. You can pick and choose what you want to listen to and when. Podcasts can be produced by just about anyone wanting to share and communicate with the world. Also podcast websites usually have ways for listeners to leave comments about each episode, and literally enter into a discussion with other listeners, podcasts are like a community of individuals sharing a common interest. Kind of cool. So now that I have explained what a podcast is and how it works, let me answer the question about why thy are so popular and a real growth industry. Well to begin with, podcasts aren’t new; they’ve been around for more than a decade, and audio books and similar listening formats have been around for even longer. In my opinion, some of the reason that podcasts have become so popular can be linked to a few realities of the growth of technology. The internet has historically been limited to laptop and smartphone screens. While video has been dramatically rising in popularity over the past few years, many users’ primary form of content consumption has involved staring at a screen, scrolling endlessly down a news feed or reading endless threads of forum comments. Exciting at first, screens have become exhausting for many users, and podcasts represent a refreshing alternative. Rather than using your eyes, you use your ears; there are silences, pauses, and genuine human voices rather than words and images on a screen. Plug in the earphones, choose a podcast and you can listen to the content of your choice. Podcasts saw an explosion a few years ago thanks to some early influencers in the space. A handful of standouts taught the world that podcasts could be a viable opportunity, and that opened the floodgates to content producers. The cost-to-value ratio for podcasts is incredibly low. All it takes is a high-quality microphone and a bit of setup time, and you can start your own podcast without much trouble. People with a the desire to share about a topic can easily create a podcast and attempt to reach a target audience. For those podcasters looking to do it as a revenue generating venture, podcasts provide a lucrative potential opportunity, costing just a few hours of production time a week, but returning significant advertising dollars. Obviously, the current generation of mobile devices and internet speeds has helped to accelerate the consumption of podcasts. It’s possible to download new material anywhere, very quickly, and listen to podcasts without interference; the same can’t be said for TV shows and movies, as mobile screens are still too small for most users’ viewing preferences. This makes podcasts ideal for things like commutes to and from work or just lounging on one's deck or lakeside. In addition, with the increase in cars having Bluetooth connectivity or functions like Apple car play, which allows the capability of streaming audio from the internet from multiple sources the way smart TVs can stream video from an indefinite number of sources, even those who commute by car can listen to podcasts while on the move. Like any other trend in society, preferences can be ever changing and evolving. With the ease and low cost of podcasting, it is easy for those in the field to adapt their content or if it isn't working out simply stop without the loss of a significant investment. One truth about marketing is that just because something is expensive to produce doesn’t mean it’s going to yield more value for your content. That's the beauty of podcasting. Find a topic of interest, find a target audience who wants to listen and you can instantly create a market for your content. Like any industry, podcasting is directly dependent on the advances of technology and the shifting interests of consumers. The rise of mobile devices and better / faster internet coverage helped drive the success of podcasts because it became more convenient for users to download and listen to them on the go. As technology continues to evolve and maybe things like Virtual or Augmented Reality become mainstream or the growth of 5G internet will certainly affect the entire notion of mobile connectivity and consumption of video and audio content. Finally, consider that even with all the other technology factors supporting podcasts, it would have been nearly impossible for the medium to take off if it weren’t for the handful of high-quality content producers that showed off how engrossing the medium could be. Early influencers or early adopters are always the driving force for any significant change in consumer behavior. They are the drivers of trends in our society. There are many who see podcasting as a phenomena of the younger generation, the hop, technology savvy individuals who are branching out but in reality, it is simply a new medium that can reply to today's desire for instant gratification of the need for quick access to information. Having appeared on a few podcasts in the last few years, I have to say that it's a blast to think of myself doing modern day radio. I am always amazed by the ease with which a podcast can be set up and loaded onto the various apps and when I get a chance to listen back, I find the audio quality quite fantastic. I have become one of those that enjoys finding interesting podcasts myself. So to all those who might be reading and enjoy or participate in podcasts, I wish all of you a belated International Podcast Day.
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AuthorAfter many years of coaching at various levels and with different teams, I thought I would share some of my experiences and thoughts about coaching. Archives
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