According to KPMG’s report, India is the third-largest podcast listening country in the world.
Cambridge dictionary defines a podcast as a radio programme that is stored in a digital form that you can download from the internet and play on a computer or on an MP3 player. But the true definition of a podcast is more than any dictionary. In terms of business, podcasts are expected to be valued at INR 17.62 Cr by 2023, growing at a CAGR of 34.5%.
In 2020, audio was one of the most preferred entertainment mediums. This should encourage the brands looking to engage with their audience without demanding much of their attention and reach a wide audience through engaging and entertaining content, states the Managing director of one such audio platform.
With multiple companies like Google and Amazon investing in Artificial Intelligence and machine learning capabilities, contextual targeting is the hot area of innovation in the podcast industry. Thus enabling the content creators to target their audience effectively.
Investing in technology that addresses the fragmentation and measurability in a more advanced way for this audio medium provides brands and podcast creators data on actual ad impression, frequency (number of times a listener heard the ad), reach and anonymized audience insights (age, gender, device type).
If one is to compare and evaluate the spend and ROI, podcasts offer more structured and accurate analysis.
Podcasts, social media marketing, blogging, are all mediums of digital media marketing. Digital media marketing is an ocean and the ones willing to and keen to know more must take a look at MITSDE’s Postgraduate Certificate course in Digital Marketing. This course not only talks about the nature and scope of this field but also touches upon the tools and techniques used to succeed in the field of Digital Marketing.
