Maria Thomas, NPR; Joanne Wallace, KQED; John Hagel, Independent Consultant
Maria: 16MM downloads to date. Pilot project ends at the close of February.
The Future of Podcasting
- Audience rapidly growing & changing
- Technology rapidly evolving
- Few standards in media
- Tool sets for content creation are fragmented and proprietary
- The standards and tools for measuring performance are largely missing
- Competitive and business dynamics in early stages
- Move from Experimentation to Aggressive Investment
- Production/delivery costs going down, BUT...
- Acquisition/retention costs going up - attention is finite!
Product Economics > Customer Economics
How much does it cost to acquire an audience member? What's the LTV of that audience member?
Scale Economics > Scope Economics
New Measure of Performance: Return on Attention (Gee, where have I heard that before.) ;)
Share of mind AND share of wallet
Podcasting: The Good News and Bad News
- Convenient - anytime, anywhere
- Limits full value of Internet - you're no longer finding new things
Content Products > Content Platforms > Audience Platforms
- Create content
- Curate (link)
- Build Relationships
Findability - primary value to audience
Sponsorship is a challenge - lack of faith in metrics
Moving Forward - Broad Principles
- Define complementary audience focus
- Establish broad presence - be on as many sites as possible
- Build critical mass in key initiatives - negotiating for positioning in aggregators, negotiating with sponsors
- Create a sustainable partnership
Who will build the richest relationships with audiences online using public radio content?
- Third-party aggregators
- Public radio system participants