Podcasting is a form of digital media in which a list of audio, video, electronic radio stations, or text files is released on the Internet, and listeners subscribe to the list using electronic devices to download or stream the electronic files in it, thereby receiving the content. The term “podcast” is a combination of the words “iPod” and “Broadcast.”
Simply put, a podcast is a sound program. The content is typically an original audio or video recording program, but it may also be a video transmission of television or radio shows, presentations, plays, or other events. It is totally free and comes directly from all corners of the globe.
By 2020, corporate podcasts have become mainstream. 17 (68%) of the Fortune 500’s top 25 corporations have their own podcasts available on their corporate websites. To be more specific, rather than the company’s CEO appearing on a third-party podcast or the company’s funded output of independent podcast shows, these podcasts are paid for by the company itself. This trend is emerging in all industries: B2B and B2C companies are producing podcasts, including retail, medical, energy, telecommunications, financial services, manufacturing, automotive, technology, blockchain and other industries.
There are three primary reasons for corporate podcasts. Companies create podcasts for a number of purposes, including promotion, highlighting their experience and skills, and creating a brand image. Second, podcasts may be used to provide online learning material for internal educational purposes. Finally, many businesses use podcasts to hire new employees.
Companies invest large sums of money to carry out the activities mentioned above, which means that they have the funds to produce many podcasts. Large global companies spend more than US$1.6 trillion in marketing each year, while global companies spend US$200 billion each in the learning (online learning) market and the recruitment market. Podcasts account for a very low proportion of total investment, but it may be still a surprisingly large amount of money.
In comparison to corporate podcasts, the personal podcast industry was first to market, Joe Rogan’s show The Joe Rogan Experience was exclusively licensed to Spotify for a licensing fee of US$100 million. In this era of rapid podcast growth, it is predicted that more personal podcasts will be produced independently by their own personal brands in the future.
Personal qualities have increasingly become mainstreamed in the Generation Z period. The Long Tail Effect of social media, for example, has resulted in the emergence of a slew of social media influencers. Twitter, Facebook, Instagram, Wechat, Spotify, Tiktok, and other centralized social media sites have generated unlimited value for social media influencers, but they are still subject to site limitations and can be blocked at any time.
Threats and opportunities
Each phase of the podcasting process, from production to hosting and storage to distribution, listening, and monetization, is fraught with challenges. Ordinary users can record directly with their phones and computers in production phase, then transmit audio content after some easy processing. You’ll need a shared location or scene to record and participate in multiplayer podcasts. Due to the continued maturity of technologies such as 5G and WebRTC, multiplayer recording can be completely realized through online Dapp recording based on WebRTC, which saves costs while also providing more comfortable online conditions during the COVID-19 timeframe.
Solving the problem of convenient production while still dealing with high platform hosting fees might be enough to put many podcast creators off at this stage. The average monthly cost of a podcast hosting service is about $15. More available functions will be unlocked as the subscription level rises. Many future podcast producers would be directly missed as a result of unprofitable and unrestricted expenses.
Podcast distribution is also at risk of being blocked or delisted in a market where content is sensitive, centralized privacy breaches, and massive Internet behemoths monopolize. At the same time, user data would be used for ads, privacy sales, privacy leakage, and other purposes. Hundreds of Twitter and Facebook users have unintentionally allowed the use of their personal data by third-party applications on the Android system, according to “CNBC.” After the GDPR’s implementation, a growing number of people have begun to distance themselves from large technology firms like F.L.A.N.G. (Facebook, linkedin, Amazon, Netflix and Google). Simultaneously, a growing number of people are moving to blockchain encrypted storage in order to enhance data protection and privacy. Traditional podcast storage is unencrypted, usually self-built storage services or use third-party RDS, Redis and other centralized storage forms, so they will all face the above problems.
Traditional podcasts could have been reprocessed by the hosting site, or even embedded internal ads, from storage to delivery to consumer listening. Users who listen to podcasts regularly may prefer the “nativeness” of podcasts. Instead of being distributed to users via a centralized data model and undergoing secondary processing and tampering, all created podcasts are delivered to the audience in a “naked” state.
We live in a time when “short,” “various,” and “deafening” content reigns supreme. People’s reflection mechanisms in the modern century have been influenced by social media such as Twitter, Facebook, YouTube, and Tiktok. Podcasts do not have much space for survival as a form and carrier. If the problems of privacy, centralized storage, originality, profitability, and decentralization of rights can be solved, and an unrestricted, user-led podcast protocol can be established, there might be some people in need in the future, and genuinely “Slow Immersion” can be provided to all those in need.