A podcast technology company called Whooshkaa, with offices in Australia, allowed radio stations to convert their existing audio programming into on-demand podcast content. Spotify announced its acquisition of Whooshkaa at the end of 2021.
“Today, we are excited to share that this technology is now available for any publisher with a Megaphone account. Megaphone is our podcasting platform for enterprise publishers and professional podcasters, and it offers a comprehensive set of tools that helps them publish, measure, and monetize their podcast businesses.”, wrote Spotify in their latest blog.
Broadcast publishers can use this technology, which they are dubbing broadcast-to-podcast (B2P), whether they are experienced in podcasting or are new to the format, to leverage their current material in order to reach new, younger audiences and increase their revenue potential.
With their For the Record, they published answers regarding broadcast-to-podcast answered by Emma Vaughn, who is Global Head of Advertising Business Development & Partnerships at Spotify, to learn more about this technology and what it means for broadcast creators.
How are radio listening habits changing?
As more people opt to listen to radio through their digital devices, over-the-air radio listening has been steadily giving way to streaming. In fact, between 2019 and 2022, Americans’ time spent online listening to broadcast radio increased by 50%.
Like with television, time-constrained customers want to listen to their preferred audio content on their own terms. This helps to explain why the podcast business has experienced such rapid expansion—creators, publishers, and platforms are responding to audience demand.
Extra requirements of B2P tool?
Major advantages of this device include automation and simplicity of usage. Broadcast-to-podcast will automatically produce new podcast episodes from previously broadcast content after a quick, one-time setup procedure in Megaphone, making it simpler than ever for broadcast publishers to reach new audiences with their content.
Publishing teams normally need between 30 and 60 minutes to manually turn each broadcast episode into a podcast. To do this, the episode must be downloaded from the radio site, the advertisements must be deleted, ad markers must be added, and the episode must be uploaded to a podcast platform. B2P aids publishers in fully automating this procedure.
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B2P’s help to radio publishers
The way that listeners interact with audio is always evolving. Especially among GenZers, digital audio is fast becoming consumers’ preferred format for listening. More than 500 million users in more than 180 markets have confidence in them. This enormous global audience of youthful, enthusiastic, and—most importantly—culturally significant listeners has a wide audience, considerable purchasing power, and a desire to develop close relationships with producers.
Publishers are paying notice since they reach more than 50% of Gen Z and millennials in the U.S. through Spotify. Publishers of broadcast content will be able to access audiences that were previously out of their reach thanks to the introduction of broadcast-to-podcast technology within Spotify’s corporate podcast platform Megaphone.
Other opportunities that come with the B2P tool
The estimated $2.2 billion in podcast ad spending in 2023 is a sizable revenue opportunity for broadcast producers. With the help of this tool, broadcast publishers may expand their reach, increase their revenue potential, and provide more convenient access to their material for devoted followers. Additionally, it is now accessible to all Megaphone partners worldwide.
Ad marker positions are automatically recognized after the content has been converted from broadcast to podcast format, and users have the option to either change or remove the identified ad places depending on where they are in the broadcast stream. Users can now dynamically reintroduce new advertising for more revenue or switch out the content that was previously displayed in place of the old ads.
Any broadcasters currently publishing their content as podcasts on Spotify?
Publishers are already making use of broadcast-to-podcast technology, like FOX News Audio, to benefit from on-demand podcasts and quickly convert their radio material to podcast content. They choose Megaphone because it was designed expressly to enhance podcast performance, removing the need to rely on tools made for radio, while simultaneously extending their audience reach and generating a new source of income.
