We are now all familiar with the power of long-form podcasts to influence public policy and thought. They are now considered responsible for determining election outcomes in more than one case. If audiobooks are rising in popularity, podcasts have far overtaken them in reach and influence.
The popularity of podcasts has skyrocketed in the last few years. From its rise in 2014, it is projected to be a $5 billion industry in 2025, making it one of the largest forms of audio content in the industry. The traditional audiobook market is somewhat stagnant at $6 billion.
In many ways, podcasts are like audiobooks. They both use the power of the human voice to convey emotions, humour, nuance and depth. A good narrator brings life to a text – whether fiction or non-fiction. Much depends on the rapport established between the narrator and the audience. The voice is the link between the content, the speaker and the listener.
But the similarity ends there. Audiobooks are just that – they are versions of established books being read aloud. They are not subject to change, editing, or newer versions. There are specific reasons why podcasts are becoming so popular: access to technology, the variety of available content, and the way that information consumption is changing. The charm of podcasts lies in the way that they combine storytelling, entertainment and education. It is a different way of consuming audio content. While audiobooks narrate traditional and emerging works, podcasts are interactive and speak to the specific concerns of the individual.
Podcasts are truly accessible in the way that audiobooks are not. They do not require subscriptions or any kind of purchase. Most of them are free to access, with many offering paid membership with other perks as premium content. This is truly a game-changer because everybody has access to this information, opinions, and debates. Most importantly, podcasts offer an alternative to traditional media, which has been the object of much scepticism in recent years. Run by large media houses with their commercial interests, they were seen as reflecting a limited point of view. Although audiobooks are good to listen to on a long journey to and from work, they tend to be limited in that they are passive and unidirectional. Podcasts, on the other hand, are interactive, include humour and wit and tackle a variety of subjects.
Another reason podcasts win over audiobooks, although both offer slightly similar formats, is the connection between the speaker and the listener. Podcasters are speaking off a written script but are also intensely aware of their audience and tweak and customise their content based on their audience. An audiobook, based on an already written and published book, has no opportunity for course correction.
Podcasts are the new ways in which people are getting information in their own languages and on topics of their own interest. They speak to the changing views of an international audience and are able to innovate and reinvent themselves as the need arises. That makes them more relevant to a generation on the go.
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