Podcast publishing offers digital magazines another audience segment and revenue stream; plus, how are Meredith profits looking?
With the explosive success of Serial and Slate’s Panoply, podcast publishing has emerged as a viable – and, more to the point, profitable – option for digital magazines. Audio content is inexpensive, not difficult to produce, and popular with consumers. What’s more, it fits in neatly with the Mequoda Method for multi-platform publishing, which emphasizes repurposing content with products aimed at converting mobile and desktop visitors.
Sounds like a win-win, right? Well, our friends at Publishing Executive recently took a closer look at the phenomenon from an industry standpoint. Let’s see what they found out!
Is Podcast Publishing a “Sound” Strategy?
Publishing Executive reports on the days of wine and roses for podcast publishing, relayed from Edison Research: Of Americans 12 and older, 89 million say they’ve listened to at least one podcast; 46 million listed to at least one per month; 27 million listen to at least one per week; weekly listeners average six per week; and 15% of podcast fans, listed to 11 or more a week.
“Someone is going to create the content that magazine readers want to listen to. Podcasting is exploding in popularity so if a magazine wants to be the one their readers are listening to, they have to be the ones creating those podcasts,” Midroll co-founder Lex Friedman told Ron Matejko.
“I think over the course of the next six months or so you are going to be hard pressed to find a major magazine that doesn’t have a podcasting initiative of some sort. … If a magazine can be successful on a regional basis then I don’t see any reason a podcast couldn’t be too.”
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But what about outcomes? The investment cost is minimal; still, is it worth it? An executive who knows as well as anyone says yes.
“The marketing aspect that’s there is important in terms of engaging the audience and making a connection that isn’t there from reading an article. You’re hearing their voice. You connect with them every week. Our podcast audiences are incredibly engaged and they spend money,” Slate general manager Brendan Monaghan told Matejko. “And it’s an additional way to extend your brand editorially while reaching a new audience because the people that listen to your podcast don’t always overlap with your readers.”
Meredith Reports That Profits Are on the Rise
According to a press release carried by Publishing Executive, Meredith reports a record $1.6 billion in revenues for fiscal year 2015, representing a 9% increase.
Lessiter Publications Purchases Farm Journal Media Title
Niche agricultural publisher Lessiter Publications has acquired Implement & Tractor from Farm Journal Media, Publishing Executive reports via press release.
What Quartz Can Teach About Digital Publishing
The three keys to the Quartz approach to digital publishing? 1) A mobile-first philosophy; 2) A journalistic perspective; and 3) A global reach. Fascinating story from Linda Ruth that we can all learn from.
Is podcast publishing a tactic you’ve integrated? Are you planning to? Tell us all about it in the comments!
To read more about podcast publishing in the news, visit PubExec.com.