The GM of Fox’s Washington duopoly is overseeing moves into podcasting and other new media, something he calls a survival necessity. “We’re competing with everyone, and for every dollar that we can get, so, to me, you have to have more places to monetize.” (Photo: Wendy Moger-Bross)
Since she was tapped as Spotify’s chief content officer about a year ago, Dawn Ostroff has been charged with building an arsenal of podcasts to catapult the Swedish business to become a leader not just in music but also audio storytelling. Under her watch, the number of podcasts available on Spotify has grown to more than 450,000 titles, up from 185,000 in February.
As this still emerging entertainment segment develops, there will be lots of prognostication on how high the revenues can go, what models work best, and when it will reach market saturation. The one thing that is certain is that the on-demand genie is out of the bottle; that consumers are going to continue to expect good quality information and entertainment on their schedule.
Podcasting, once viewed as a niche industry that catered to public radio fans, got a major boost this month when Swedish streaming giant Spotify agreed to pay around $230 million for Gimlet Media, the New York producer of such audio dramas as Homecoming and the documentary series Crimetown.
Spotify paid about $337 million for podcasting companies Gimlet Media and Anchor FM, according to a new filing with the SEC. That represents a big chunk of the $400 million to $500 million that the Swedish streaming giant said it plans to spend on podcasting companies this year.
Top creatives and podcast creators discuss trend of hit podcasts becoming TV series at an NAB Show session.
Sessions, exhibits and podcast studio feature leading podcasters and highlight the medium’s growth and opportunities.
A team at the Ventura County Star thought they could enhance their online presence and gain new audiences with two podcasts — one on local history and the other on prep sports. Turns out they were right.