The general consensus in the podcast industry is that the exorbitant spending of the past four years, particularly by the bigger companies like Spotify and iHeartMedia, will finally be properly scrutinized — and possibly come to an end. nwquah reports
. We also asked them what they thought was to come in 2023. Dozens of insiders, creators, and executives responded to that prompt, and according to them, one thing is for sure: 2023 is going to hurt.
Will that reckoning take the shape of a dramatic bubble-burst, or will it be a more gradual deflation like, as one editor put it, “a sad little week-old party balloon”? Will previously major companies leave the scene entirely? What will be the knock-on effects of a big pullback in ad spending as well as advertisers enforcing more scrutiny over their campaigns? However things shake out, the broader anxiety among people I spoke to was tethered to how the year’s shifts impact job opportunities.
In terms of video, the discussion tended to have a robotic feel: The platforms are incentivized to further merge the on-demand audio ecosystem with the existing digital video ecosystem, YouTube is looming on the horizon, doesn’t the prospect of more shows reaching more people through established video platforms sound exciting to you? I mean, sure, but if I wanted to watch YouTube or TikTok, I’d watch YouTube or TikTok.
So is there a way to save the limited-run podcast format? Interestingly, one common prediction for 2023 seems to suggest that there may be: A number of people predicted that we’ll see more and more publishers consolidating their various shows into fewer feeds so that each individual feed functions more like an internal discovery mechanism.
➽ “We really don’t need more celebrity-anchored podcasts where the celebrities are simply interviewing their friends or, worse, subbing in as narrators when the journalists who did the work should have been the ones to host the show.” ➽ “Hiring TV and film execs to run podcast shops. The mediums are different. Those roles require people to make decisions that affect what shows get made, who gets to make a show, how things get made, and the reasons for making that said show. The job of an exec is simple: Have a vision. Unfortunately, most of these people lack any vision that would push this medium forward. And we’re seeing it now with the projects they decide to green-light.
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