Riding the Wave of Podcasting: The Future of Storytelling and Learning
Published: 15.06.2023 | History of Podcast
In a world where we are confronted with information everywhere and time is limited, we have seen a rapid shift from traditional media forms to more immersive, flexible and engaging formats. One such format that has made big waves in recent years is podcasting. In think this is because of the flexibility they offer. It allows listeners to consume content while commuting, working out, or doing chores around the house. It’s a medium that fits seamlessly into the busy, multitasking lifestyle of modern society.
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Podcasting was initially a niche product, an innovative medium used by technology enthusiasts and independent broadcasters. The term “podcast” itself - a portmanteau of “iPod” and “broadcast” - was coined in 2004 by journalist Ben Hammersley in an article in the Guardian. Since then, podcasting has exploded into widespread popularity.
Here are some impressive facts (feel free to skip them but I found them interesting):
- Based on Polaris Market Research the global podcasting market was valued at $13.70 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 31.5% between 2022-2030 - 1)
- As of 2023 there are 464.7 million podcast listeners globally with a forecast of an increase to 504.9 million by 2024 - 2)
- There are 5 million podcasts with over 70 million episodes between them
- Almost every third US citizen listens to a podcast weekly (28%)
But it’s more than convenience. The wide variety of topics and formats - from true crime stories to political analysis, from self-help advice to in-depth scientific research - means there’s a podcast for everyone. Podcasts have the ability to inform, entertain, and educate in equal measure.
The potential of podcasts as an educational and entertainment medium is enormous. New technologies such as AI and LLMs (Large Language Models) are on the rise and can enhance podcasts in many ways, including transcribing spoken words into text, creating summaries, and making content searchable. This will open up new opportunities for both producers and listeners, enabling deeper engagement and accessibility. These technologies will expand podcasting in ways we are just beginning to understand, and improve the way we tell and engage with stories.
In this newsletter, I’m going to explore these two areas a bit more. I’ll be creating short reading nuggets that will have a reading time of about two minutes, so you can consume them anywhere and anytime. Those nuggets will explain to you the current state of podcasting and how you can leverage AI, in particular LLMs, to either bring your podcast idea to life or to squeeze out more content that makes listeners excited to consume your podcast.
Join me on this journey and explore the world of podcasting and AI that is shaping its future.
Read about how you can get started with your own podcast in:
- The Ultimate Guide to Starting and Creating Your Own Podcast
- Understanding and Managing RSS Feeds for Podcasts: A Comprehensive Guide.
- The Comprehensive Guide to Podcasting: From Basics to Advanced Techniques
- The Ultimate Guide to Podcasting: Questions Answered and Software Explored
- Maximizing Podcast Potential: Strategies for Spotify, YouTube, and TikTok