Can audio content catch up with the creative revolution?
More than half of the U.S. population over age 12 has now listened to a podcast, according to Edison Research. The medium has fundamentally altered the landscape for audio content, liberating and empowering both listeners and creators. And big acquisitions such as Spotify’s purchase of Gimlet Media signal that the business of podcasting is coming of age, too.
But there remains an economic gulf that some entrepreneurs and investors see as an opportunity. Ad spending on podcasting is around $500 million, by some estimates, but that compares to $17 billion or more for radio.
So where is podcasting heading next? How will speech recognition, smart speakers and other innovations change the landscape for podcasts? Should you start your own show? Could you make any money if you did?