India keeps on rediscovering their affection for audio storytelling content. Millennials and GenZ tune in to podcasts to learn discover something new, or simply entertain themselves. Podcasts are indeed a theatrical audio experience of the mind that transports you to a fictional world through your imagination. It has a higher rate of effectiveness as users give all their attention while listening to their favorite choice of audio creators, which brings in a huge opportunity for advertisers to jump on.
A recent report by KPMG, India is the third-largest podcast-listening market globally and is expected to be valued at INR 17.62 Cr by 2023, growing at a CAGR of 34.5%. Podcasts were also one of the most preferred mediums last year. As per the marketer’s report from April 2020, 49% of users prefer using audio platforms.
Spotify’s podcast launched 30 Original podcasts, in multiple languages – English, Hindi, Tamil, and Telugu and brought on additional partners like Big FM and Radio City, which indicates the increasing consumption and growth of the medium. Podcasts have been around for some time now, but the recent innovation in monetization is presenting a whole new opportunity for both brands and advertisers.
These days’ listeners are turning to podcasts for reflection, education, and entertainment. There’s a growing opportunity for brands to create such podcasts to reach their audience in a more meaningful way. Brands use the medium meaningfully. Bumble (APP) created and promoted its podcast, Is Romance Dead? obvious relatability with the brand and connecting with their users beyond traditional marketing campaigns.” Unlike video content, such custom-created audio content allows consumers to seamlessly blend into the content, that listeners consume with no apparent branding.
With users turning to newer ways of entertainment, gaining knowledge, and engaging with their favorite genres via podcasts in Indian languages, the industry is slated for a boom in terms of reach and advertising revenues. Making truly valuable and listen-worthy content is higher than it’s ever been. Podcasts are the perfect storytelling medium, and our streaming numbers point to its rising popularity. Since brands look for ways to reach and engage people where they are, it’s a matter of time before branded podcasts and custom audio shows become a rage.” Bringing in the next phase of growth According to Spotify’s survey, 41% of podcast listeners have reported trusting ads more if heard in a podcast and 81% of podcast listeners say they have taken action after listening to a podcast ad.
Listeners are becoming more loyal to podcasts and sticking to their favorite shows for a long time. The pandemic-induced lockdown drove Indians to tune into educational, spiritual, and motivational content. There is content made available for everyone. The second wave of growth is to come from regional languages (Hindi, Tamil, Telugu, Malayalam Kannada). As many more regional creators and brands get aware of the growing popularity of the medium, we’ll start seeing quality content in these languages which will boost consumption,”
Organizations have started talking. It’s so important for the management to use innovative means of communication that employees relate with the current ecosystem of connected cars and smart speakers. It’s impossible to ignore communication and employee engagement with audio, that’s engaging and measurable. It’s so much easier to engage with employees through audio for induction, policies, processes, and training modules that can be accessed on HR management software, their phones, and other handheld devices and listen to internal communication, leadership interviews, and engagement initiatives.
Connect with spooler to create immersive audio experiences with podcast and audio solutions for your brands in Indian regional languages with the countries best audio creators and producers.
Here are your 4 reasons to consider our podcast production network, Spooler.
- Audio content experts: With over 2 decades of expertise in setting up, leading, and creating iconic audio/radio brands in India, we give you sound solutions.
- Award-winning team: Our team members are recognized by the best in India and around the world.
- Technology: Our end-to-end data-driven network will seamlessly integrate with your existing platform and also distributes on all major streaming platforms. We provide you with the most secure API for restricted content for enterpriseswith real-time analytics.
- We speak your language: our approach is strategic first. We deliver based on your objective.
With inputs from The Hindu Business Line
Spooler is an Indian audio production company made of award-winning creative & sonic content specialists. With over two decades of expertise, we create immersive audio content to engage and create meaningful experiences, for our partner’s audiences. We strategize, produce and distribute podcasts, branded shows, custom audio content for brands, enterprises, and news publishers in Indian languages.
Our services include bespoke audio content creation, audio branding, audio distribution, podcasting, show notes or transcripts for search, private content for corporates, creative solutions, consulting, branded radio shows, dynamic & programmatic adserv, and IAB certified reporting with real-time analytics.
We partner with brands, enterprises, publishers across categories and sectors. Spooler is an end-to-end data-driven audio network.