Table of contents:
With video podcasting’s momentous rise in popularity, Riverside’s Annual Report dives deeper into this impactful medium. As the 5th of an 11-part series, this article looks at who benefits the most from video podcasting.
What’s in it for me?
By the end of this section, you’ll have key insights on the following points:
- Why is video a preferable medium to audio-only podcasts?
- How platforms benefit from a rise in video podcasting
- How audiences benefit from a rise in video podcasting
- How creators benefit from a rise in video podcasting
A clear rise in video for podcasting
Podcasters may start a show for any number of reasons, for example: passion, access to people, or a desire to improve a skill. But, at a certain point, podcasters turn their attention to monetization.
To get to a place where monetization is possible, podcasters must first find the right distribution for their show. Without proper distribution, monetization is difficult to achieve. This is the main reason why most podcasts simply do not produce revenue.
In 2022, we saw the emergence of dozens of potential distribution channels for podcasts. Creators used audiograms, TikTok, Instagram Reels, YouTube shorts, and more to push their shows into new areas for new audiences. And what do those channels have in common?
You guessed it. They all rely heavily on visuals and video. The way we promote podcasts has forever changed, and is inherently more visual than ever. Video as a built-in podcasting format has existed since the early 2000s. However, the support for this feature has largely been difficult to use. That has all started changing since the COVID-19 pandemic forced companies and creators indoors to record.
Riverside was the first platform to support high-quality video recording in 4k, making video recording easier than ever to add into a podcast.
And now, platforms like YouTube and Spotify have opened up the doors to publish video podcasting not only possible, but expected. And short-form platforms such as TikTok, Instagram Reels, and YouTube Shorts are there to help audiences ease their way into podcasts via smaller clips.
Some of the most popular shows in the world are using short-form video platforms as the key driver of new audience growth. This strategy expands across various topics and industries, from comedy podcasts to B2B shows. Video is simply an effective way to get more distribution on creator channels.
Distribution has been rendered more effective via short-form media channels like TikTok. In addition, long-form podcasts are being consumed as videos more than ever before, thanks to new rollouts from YouTube. Combining short-form clips for distribution with long-form publishing to build loyalty is a powerful 1-2 punch to look out for in 2023 and beyond. In fact, some studies show that video podcasting is on the rise by as much as 25% in recent months.
Let’s dive deeper into insights surrounding podcast creators, audiences, and platforms to help us understand this trend more fully.
A preferable medium for all?
Whether you look at it through a creator or audience lens, video simply has more attention.
The amount of active YouTube channels currently in operation totals more than 38 million. In contrast, there are only 2.4 million active podcasts in the world. Most content creators, whether individuals or companies, prioritize video as a medium over audio only. On the audience side, we see that nearly 5 billion videos are watched on YouTube alone daily.
This is not to say that podcasts don’t boast impressive stats themselves (they do). But it would seem that the real opportunity lies in combining these elements into a cohesive strategy.
But why is video such a preferable medium based on the stats? Let’s recall the key benefits from our prior section on video podcasting benefits:
- Video adds SEO value
- Video gives richer context
- Video’s optimized for shares
- Video drives higher engagement
- Video helps you reach more people
- Video makes content more personal
- Video produces higher discoverability
- Video offers opportunities for microcontent
- Video gives you more opportunities to monetize
Benefits to creators
This is where things really get fun. For companies looking to get into the podcasting space for the first time, or those who want to improve on their current strategy: you’re in luck.
Video is about to unlock an entirely new way to reach new audiences, grow your show, and monetize more effectively.
Brands are likely to see an uplift in the following areas by using video podcasting as a medium:
- Increased discoverability through SEO and platform searches
- Higher retention on episodes
- Increase in new subscribers
- Improvement in micro content creation
- Higher brand affinity and trust
- Increased shares of episodes and clips
Benefits to platforms
By now, you can already identify that channels like YouTube, TikTok, and Spotify stand to gain from a rise in video.
Each of these channels sees an opportunity to grab more podcasting market share as time passesLet’s look into each briefly and identify what they stand to gain if video podcasting becomes the primary creation method.
YouTube
Benefits from video podcasting because:
- It creates an entirely new type of video creator on their platform
- It increases the chances of higher view times on videos
- It adds longer-form content to the mix
TikTok
Benefits from video podcasting because:
- It creates an entirely new type of creator on their platform
- It introduces new visual formats the platform hasn’t seen
- It entices creators looking for better distribution and growth paths
Spotify
Benefits from video podcasting because:
- It establishes them as a first-mover in adding video to a podcasting app
- It encourages podcast listeners to switch from Apple Podcasts
- It creates an entirely new type of creator on their platform
You can clearly see the trends across those platforms. Channels are salivating over the increases in watch time, retention, and content loyalty creators will see.
Other platforms like Apple and Google Podcasts will likely need to follow this trend and implement more effective solutions for presenting video.
Benefits to audiences
For watchers and listeners just getting started with podcasts, video may prove to be a massive advantage for brands. 64% of podcast newcomers (people who only recently started listening and watching podcasts) say they prefer to play video in the background (31 percent) or actively watch (33 percent).
The other 36% prefer audio-only. This bodes well for the creators that build with video in mind. This also indicates that the younger generations hold the key to how podcasts evolve as a format.
All benefits trickle down to the end users. Listeners (or watchers) can enjoy podcasts in the medium of their choice, truly being met where they’re at individually. No longer will audiences be required to consume using only the box pre-subscribed by brands. They will truly control how, when, and where they wish to consume new information.
Read more from the 2023 Riverside Annual Report series:
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