DEATH BY A THOUSAND PODCASTS: What used to be seen as a light at the end of the tunnel for radio might just be a freight train instead. I’m talking about podcasts, which were originally invented as a download-now-save-for-later content extension of long-form talk radio. But in the age of streaming two things are happening to podcasts which are decidedly negative for broadcasters. First, original content is being created by podcasters instead of just an extension of what you hear on radio. Podcasts now compete for share of ear, instead of just being a distribution extension of broadcast radio. Second is the rise of podcast consumption via streaming instead of download. Podcasts are now truly on-demand anytime, anywhere, as long as the listener has internet access. This tech advance has helped podcast listening surge – according to the attached Nuvoodoo study 10% of the US population listens to over an hour of podcasts daily. That’s a serious average quarter hour pull which has to come from somewhere. And based on the graph below it looks like radio is paying the biggest price for podcasting’s growth.
GETTING TO KNOW GEN Z: Is it just me or has the marketing ecosphere totally over baked the importance and influence of millennials? Yes, they’re a sizeable demographic group who are ageing into prime earning and consumption years. But did you know there will be life after millennials? And the next niche-generation, already dubbed Gen Z, is coming up fast. The biggest difference between Millennials (21-35 yos) and Gen Z (12-20 yos) is that Gen Zers have never known a world without smartphones and social platforms. Because of this they communicate differently than every generation before them. The attached AdWeek link and following infographic breaks down Gen Z’s social use by platform and provides some insights into the best/worst ways to interact with them. Turns out YouTube is a BIG deal – I guess your average 17 yo doesn’t care about watching videos in a brand safe environment. Celebrities can also be really good (or bad) as a branded content vehicle. And girls are more likely to use Instagram, FB, Snapchat, Pinterest and Tumblr, while guys are on YouTube, Twitch and Reddit.
IT’S AN IoT WORLD AND WE’RE JUST LIVING IN IT: Finally today, if you ever get blurry-eyed thinking about how crazy complicated digital media sales is becoming, consider the bleeding edge of IoT for a minute. Last week the connected device industry met for its annual Internet of Things World 2017 Conference. I won’t even begin to pretend I’m an expert at this stuff (wtf the fog computing?). But even from the top row of the bleachers I can respect the formative work happening in this space right now, and how it will impact our lives as consumers and digital media professionals. Of the eight takeaways in the attached Medium.com article I especially like #2 – the analogy of giving consumers aspirin over vitamins is spot on. Point #8 is also interesting to ponder – imagine all the ways these industries will be transformed over the next 5-10 years because of IoT. Good reading material for your future self!
Have a great Wednesday guys!
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