A new INMA report explores the economic promise of podcasts for news companies.
The Engagement and Economic Promise of News Podcasts uses eight industry-leading case studies in its examination of the road map "from ideation to creation to engagement to making money".
Author Paula Phelps says media companies are "uniquely positioned" to capitalise on podcasts as they have everything a successful podcast requires - compelling stories and information, professional storytellers and an audience at the ready.
She says news is the 'number one' genre sought out by podcast listeners, with young millennials (age 25-34) being "some of the most voracious consumers" of news podcasts.
The new report looks at how the platform is evolving quickly with that audience potential in mind, talking with those who have been there since the beginning and those who are new to it.
The eight case studies - BBC, the Wall Street Journal, Evening Standard, Toronto Star, El Observador, Los Andes, the Irish Times and NRC - show how news media companies have responded to the growing popularity of podcasting and how they are using this format to reach niche audiences, develop sponsorships, and even create entirely new platforms for podcast distribution.
"COVID-19 created opportunities for new podcasts," she says. "Now it's up to publishers to find ways to retain and grow those audiences."
The report is free to INMA members and available for purchase by non-members. For complete information and to download or purchase, click here.