Korea is the leading podcast market in the world by penetration rates.
So much for the “we don’t listen to podcasts in Asia” BS. Asians are listening, it’s just that Asia is behind the curve.
Asia is a big market of course and moves at different speeds.
#2. Radio advertising is 35x bigger than Podcasts
Radio is that big?
Think of how much further Podcasting can go.
In the US, podcast advertising is worth $500m a year, whereas Radio gets $18bn. We haven’t even talked about newspapers or print either (worth another $30bn). These industries don’t exist in isolation. NPR (national public radio) in the US is the biggest podcaster by audience.
Podcast has huge potential upside.
#3. Facebook and Google own 59% of the internet ad market
…But they haven’t worked Podcasts out.
Some advertisers ask me, “but we’ll wait until the podcast metrics are worked out” to which I often answer, “if you’re waiting for FB and Google to work it out, it will be too late.”
#4. The Biggest Podcasters Come from Traditional Media
Is podcasting a lifeline for traditional media?
NPR and The New York Times are 2 of the biggest podcasters in the US, both from the world of traditional media.
Not only can podcasting create new ad real estate not owned by Facebook and Google, the stats show podcasting can also drive audience back to traditional media.
The acquisition targets are all Podcast Media Houses. Pitch Media Asia is also a Podcast Media House so I feel I have an insight into why they acquired these companies – knowledge.
A standard agency acquisition would be 5x EBITDA. None of these agencies came close to these valuations. Instead they were buying the know how these Podcast Media Houses had amassed over the years. It’s this know how that they could take back to their existing IP and advertisers and sell new real estate.
#6. 2 x More Engagement
People who listen to podcasts really listen.
The market is polarized at the moment between the believers and non-believers. Don’t let the non believers convince you to edit our content. That’s like trying to make Skiing appeal to Football fans by adding goals to the downhill course. Skiing fans love skiing, listen to what they have to say.
#7. Podcast Investment Hits Record Levels
For all the reasons above…
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We all know about the growth of podcasting in the US, but what about Asia?
Here’s the missing Playbook for the Asian market. Written by podcast host and author Graham D Brown.