Over the past few years, Spotify has unveiled more and more tools for enterprise publishers to embark on a new adventure: audio content. When embarking on new content formats such as audio, these companies are looking for two main things: to engage and grow their audience and to expand their monetization strategies. Spotify’s podcast hosting platform megaphone enables publishers to create, monetize, measure and grow their podcast business. The megaphone also powers the Spotify Audience Networkconnecting advertisers with immersed listeners.
As we increase these offers, so has the number of publishers taking advantage of them. Recently at Evolutions by podcast movement, Khurrum Malik, Spotify’s Head of Advertising Business Marketing, moderated a panel titled “How Innovative Publishers Are Making Room for Audio”. It included representatives from Vox Media, Paramount Global and Sony Music, all of which are publishers of Megaphone. Each spoke about how they’ve incorporated podcasts into their content strategies, what they see in terms of audience engagement, and how they see the future.
“I was there to facilitate the conversation about how these leaders are innovating and engaging new audiences through podcast content,” Khurrum explained to For registration. “How do the trends they see serve their listeners? How can they work with other pieces of content and IP [intellectual property] in their business? Do they do podcast content first and then expand it into a potential video show? Do they take video shows and make podcasts out of them? That’s what I was there to help them explore.
Read on for more information on the panel and Spotify’s work with editors from Khurrum himself.
At Spotify, we’ve long thought about the importance and impact of audio for content creators. What has been the adoption among enterprise publishers?
Vox Media, Sony Music and Paramount Global are major global publisher brands that have been industry leaders in investment and innovation in audio content.. For them, intellectual property, often in the form of television or video content, has been key to their strategies. Since they also turn some of that IP into podcasts, it’s now easier than ever to expand their podcast monetization with Megaphone and the Spotify Audience Network.
This matches the numbers we revealed in 2021 Wrapped: our listeners spent 78% more time listening to podcasts in 2021 than in 2020. And when it comes to shows hosted on Megaphone (like the ones these publishers create) , there was a 67% increase in the number of shows added. Recently, we’ve seen the addition of enterprise publishers such as FOX Audio Network and Bababam also join the ranks.
What are some of the ways Vox Media, Sony Music and Paramount Global integrate or plan to integrate audio into their suite of offers?
For CBS, now Paramount Global, it was interesting to hear what they think of their existing TV IP as The Late Show with Stephen Colbert as potential for podcasts. It was interesting to hear how they translate TV content into this audio-only format.
At Vox Media, they mimic some of their long-form op-eds as podcasts. A show, Pivotfeaturing the NYU professor Scott Gallaway and journalist Kara Swisher, has become a double podcast that is really starting to grow. And the big thing for Vox Media is still creating content franchises. So in this case, they’re thinking about the quality of the podcast, how far they can get it, how to scale it. And they started taking that podcast and expanding it into events. Therefore the Pivot podcast has leadership events, for example, and a community that Vox Media uses to connect with people in the tech space.
What jumped out at Sony Music is how their global music footprint is going to allow them to transition to region-specific podcasts. They haven’t taken the opportunity to do so yet, but Emily said she can see how Sony could create podcasts with artists as hosts and build communities around them. She kept talking about doing more internationally, because the global footprint is so big.