Pod-Alization: Slow Burn Prize; Podcast Ads Still Tiny; Libsyn's Product Development

 Slow Burn Podcast wins Apple’s new podcast prize
 

Apple Podcasts has introduced an award for “Show of the Year,” with its inaugural honor going to Slate’s Slow Burn. In the weeks leading up to the Supreme Court’s decision overturning Roe v. Wade in June, Slow Burn published an in-depth account of the history behind the landmark 1973 case. 

Slow Burn was selected by Apple Podcasts’ editorial team. In addition to quality, they took into account metrics like chart performance, listener engagement, and reviews, according to Apple Podcasts spokesperson Zach Kahn. As part of the award, Slate has collaborated with Apple to publish six bonus episodes available for free on Apple Podcasts. But the real prize is all the promo for the show, which dominates the Apple Podcasts landing page.

Slow Burn's win is further proof that citizens take notice when heretofore "unalienable" rights are revoked.

Podcasting still makes up a tiny portion of digital ad spend

According to new data released by the Interactive Advertising Bureau (IAB), podcasts constitute less than four percent of all advertising spending (ad spend). That puts it in the same league as digital out-of-home advertising, like digital billboards. Grabbing the lion’s share of digital ad spend are digital video (19.3 percent), paid search (13.7 percent), social media (16.6 percent), and digital display (16.4 percent).

Although podcasting’s growth prospects are solid, with IAB projecting that ad spend in podcasting will increase by more than eight percent in 2023, it is still falling behind digital video. IAB expects that podcasting will make up about the same share in 2023 as it did this year, whereas digital video will take up an even larger share of 22.4 percent.

The trend helps explain why more podcasts are pushing into video. Even though the CPM rates are typically lower on YouTube than Spotify or Apple, it’s another revenue stream that can potentially rack up a much larger audience. Even if many (most!) podcasts are better off audio only, the ad dollars may be too hard to resist.

Libsyn to crank up Product Development

Typically, an executive promotion at a podcast hosting and advertising company as large as Libsyn would not garner a mention here. Executives come and go. Sometimes, it's musical chairs, with the same execs switching jobs in different companies. Podcasting, although new, isn't that different. 

However, Libsyn announced the appointment of Taylor Kirch as Director of Product Management, based in Champaign, Illinois. Kirch will help drive product development across Libsyn’s integrated platform of tools and solutions to "help creators unlock their full podcasting potential."

Specifically, Kirch will oversee the advancement of the newest Libsyn platform and the development of next-generation tools for seasoned podcasters. She will report directly to John W. Gibbons, Libsyn’s President, and Chief Product Officer.

“We're thrilled to bring Taylor on board during a time of tremendous growth and opportunity in both the podcasting industry and for Libsyn,” said Gibbons. “Her record of innovation in audio entertainment as a product innovator makes her a tremendous asset as we continue to develop and expand our platform for all creators, so they more easily bring their diverse voices to life, grow their audiences, and monetize their shows.”

“Throughout my career, I have always had a passion for creating compelling user experiences for content, recommendations, and monetization,” said Kirch. “I’m excited to join Libsyn, a podcasting pioneer and innovator, and apply my knowledge of the podcasting industry and product management to further advance Libsyn’s product development roadmap.”

Kirch’s background includes more than ten years of experience in the media technology space – spanning podcasting, streaming services, and video. Prior to her current role, she served as an Associate Director of Product Management at SiriusXM, focusing on Content Knowledge and Innovation. There, she harnessed contextual metadata to drive increased recommendation relevance and compelling discovery features. Before that, she worked for nearly six years at Pandora as a Product Manager where, by all accounts, she did a lot of good stuff too boring to mention here.

Suddenly, there is a new kid on the block, with new ideas. Hopefully.