I have watched/listened to more podcasts on YouTube than on any other podcasting platform. And I’m not alone. Various research reports that YouTube is the most used platform (Even ahead of Apple and Spotify) for consuming podcasts.
YouTube is now embracing its leadership position in podcasting by launching a dedicated podcast page. “The podcast destination page on YouTube helps users explore new and popular podcast episodes, shows, and creators, as well as recommend podcast content,” confirmed Paul Pennington, YouTube spokesperson.
Per Bloomberg, YouTube is offering $50,000 to individual shows and $200,000-$300,000 to podcast networks to create podcast videos on its platform.
Naturally, you would be thinking:
Why is YouTube going all in the podcasting space?
According to Grand View Research, “The global podcasting market size was valued at USD 11.46 billion in 2020, and is expected to expand at a compound annual growth rate (CAGR) of 31.1% from 2021 to 2028.” Moreover, per Statista, the number of worldwide podcast listeners grew from 274.8 million in 2019 to 383.7 million in 2021. And this can reach 504.9 million listeners in 2024.
YouTube wants to capitalize on this growth and cement its leadership. It’s why it’s optimizing the platform to become podcast-friendly and incentivizing creators to launch and record video podcasts on its platform.
What does this mean to you (and what should you do)?
We have already seen what happens when a platform prioritizes a particular content format: It gives more reach to that (and less to the other formats). It happened when Instagram launched Reels. Reels got more organic reach compared to static posts and carousels.
So, what should you do?
1) Create podcasts
With the above evidence that worldwide podcast listeners will continue to increase, why not integrate podcasts into your overall marketing strategy? You’ll diversify your content (not rely on one platform) and reach more young listeners. Plus, you can repurpose your podcast on different platforms, expand your (Google) search potential, and redirect traffic to your websites. So, if you want to leverage these benefits, start creating podcasts.
2) Ace the YouTube game with content repurposing
No doubt creating a podcast is time, cost, and effort intensive. Then, why not repurpose it in multiple formats on YouTube? That way, you’ll kill two birds with one stone: a) Gain the maximum ROI on your efforts, and b) Post more content in different formats to take advantage of YouTube’s algorithm.
Repurpose one podcast video into 10-15 mins of YouTube clips, 15-60 seconds of YouTube shorts, and multiple community posts (graphics and carousels).
How can Madfire help you?
I know: Creating a podcast is itself tough, and not everyone can find the time and effort to convert it into multiple content pieces. That’s where Madfire comes in.
We’ll polish your podcast video to make it presentable on YouTube (so you can post the video without any hesitance). And even repurpose it into different formats (video clips, shorts, and community posts).
All you have to do is to record a podcast and send it to us. We’ll create multiple content pieces from each episode and send them to you to publish on YouTube.
Here’s a link to our previous work.