Format expansion and tech advancements have created “the perfect storm” for audio to thrive, according to a new INMA report.
And as younger audiences grow up with audio, the platform can provide access to audiences that print or digital publications may not appeal to – with the added benefit of being a format audiences trust.
A 2019 report, ‘Audio Opportunities for News Media’ examined then current and short-term future opportunities of audio content.
Now the new report, ‘Why Some Media Companies Are Betting Big on Audio’, takes a fresh look at audio as an opportunity to grow audiences while boosting engagement and revenue.
Topics include: Six reasons this is audio’s moment; the power of podcasts; smart speakers; the opportunity of audio articles; and the economics of audio.
The report, by INMA product initiative lead Jodie Hopperton says investment in audio is increasing among news media companies – adding dedicated audio roles and teams, embedding audio articles into websites and apps, and launching standalone audio apps for subscribers.
According to Hopperton, the same factors that make audio appealing to audiences also provide more ways for news publishers to monetise it. And, as the opportunities with audio continue expanding, so will the opportunities for monetisation.
In addition to practical tips and examples across audio from news media companies, the report looks at organisational structures and monetisation strategies. Case studies from News Corp Australia and New Zealand’s Stuff join those from Prisa, Funke, VOL.AT, Kvartal, Stampen Media and Svenska Dagbladet, showing how audio is being experimented with, implemented and embraced throughout the news industry.
The report is free to INMA members and for purchase by non-members at INMA.org/reports.