Finally, podcast audiences, like many Instagram influencer audiences, are niche (“specialist”). Secondly, podcast audiences are highly engaged with the content – comparable to the way that authentic influence functions as a result of engagement on Instagram. Firstly, audiences seek out and curate the podcast content they consume, akin to the way that audiences on Instagram browse and curate their feed from sources they feel to be of most value. Podcast audiences are comparable to audiences of influencers on Instagram for three reasons. Podcast sponsorship is the new Instagram influencer marketing Moreover, with growing recognition of the paywall problem, brands are going to be paying an inflated price for ad inventory that reaches subscribers – given how little time this valuable audience segment now spends with brand messaging. Now that Spotify will own the rights to some of the most popular original podcast content (by Gimlet), not only would it not have to pay license fees, it could additionally monetise those creative assets with sponsorship. Secondly, podcasts are often inclusive of sponsor messages within the content itself (unlike audio programmatic ads that are served in between streaming songs) – meaning that podcasts with advertising messages reach audiences on Spotify behind its paywall. The spread of actions Spotify can take in this space is severely limited as a result (even if announcing that it would be licensing artists directly had a positive impact on its share price). Any attempt by Spotify to buy a record label (and own the means of production) would likely cause a retaliatory move from the dominant labels in a price hike or a withdrawal of content, which it cannot afford (though neither, arguably, could the record labels afford to withdraw their content from Spotify). Pay outs to license holders are Spotify’s largest operating cost. Podcasts offer Spotify two crucial assets in its revenue mix.įirstly, unlike recorded music, podcasts are not bound by the same complex web of licensing deals – mostly held in place by the three major global record companies. Spotify indicated in its F1 filing for its DPO last year that it envisaged talk-based audio content playing a growing role in its revenue mix going forward. It is a new chapter for podcasts and a recognition of their value to sponsors, platforms and creators alike. This is the first time Spotify has bought a company that makes and sells content. The figure has been reported as in the region of $200 million. Following six days of speculation, Spotify announced yesterday that it is acquiring Gimlet Media (comprising Gimlet – the production house, and Anchor – the production, distribution and monetisation software tool), for an undisclosed sum.
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