Thread by @LeboLion_SA

Some say that the 4th industrial revolution will be the end of traditional radio & that podcasts will take over, but according to reports, The SA radio industry will total R5.2 Billion rands in 2022. Is podcasting real competition for radio?

A thread: Radio vs podcasting

Before we can debate the power of the two I have to note that radio & podcasting are both digital forms of audio broadcasting. While we like it or not, radio is still part of the “digital revolution”. Whether it will keep up with 4IR is a different story.

According to the Broadcast research counsil of South Africa, radio has a solid listener base and a weekly listenership of 91%. 28.6 million people tuned into radio on an average weekday from October 2017 to March 2018. SAs radio market is set to rise at a rate of 3,9%.

The most popular way of tuning into radio still remains to be a stand alone radio set, however the growth of on the go listening via mobile is steadily rising. But what do all of these numbers mean for radio? Simply put, it means that:

Extensive financial investment in SAs radio. Stakeholders believe that they can:
Get high return
Reach a wide market
Have the opportunity to reach a large specific demographic (targeted marketing)
Get interaction and customer feedback through competitions etc
Live engagement

Strong listenership figures attract advertisers and the total SA radio market is comprised ENTIRELY of advertising revenue. It seems with radio the value is driven by the consistent, and dependable content.

The repetitive nature of a radio stations schedule makes it easier for listeners to become familiar with the station, shows, & hosts

The accessibility of radio shows: on standalone radios,in vehicles, & online makes it penetrate many demographics in different environments,with different financial powers.

However critics are arguing that the rise of podcasts is threatening the relevance and power of traditional radio.

What is a podcast? A podcast is a digital audio file made available on the Internet for downloading to a computer or mobile device, typically available as a series, new instalments of which can be received by subscribers automatically.

The value of podcasts is that they are accessible at the consumers will (on demand technology). The ability to download podcasts means that a consumer can listen to them offline, wherever and whenever they want to.

In a society that's becoming more & more consumer centric as technology becomes for sophisticated and more accessible, it makes the easy to use & control function of podcasts very appealing to a wide variety of listeners.

Other benefits of podcasting are:
Easily accessible from anywhere you are if you have access to the internet.
Require very little data to be streamed or downloaded.
Podcasts are free.
Podcasts have a dedicated and loyal listenership.

Podcasts are a great environment for Niche marketing opportunities. Which means you can get a marginally higher return from a significantly smaller audience.

According to various reports, podcast advertising spend in South Africa as been doubling year on year, since 2013, from a level of 2 million rands to a level of 54 Million in 2018.

The biggest contributor to the quick growth of podcasting is the rising number of people who are gaining access to the internet. The disruptive nature of podcasting drives its momentum.

There is clearly extensive advertising spend on both podcasting and radio. It seems that decision makers are using podcasting and radio as complementary tools of access to customers, creation of thought leaders (through show hosts), & content sharing platforms.

It seems both radio & podcasting will award you a substantial audience & significant Influence. However the popularity of podcasting over wider LSMs will still take time in Africa. Making radio a better platform if you are seeking more guaranteed fame & wide audience reach.