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<ul><li>2020 is going to be a watershed for brands to enter audio. We have already seen a few mainstream brands do some experiments in 2019. </li><li>And this year, <keyword id="254100" type="PERSON" weightage="20" keywordseo="Amit-Doshi">Amit Doshi</keyword>, Founder &amp; CEO, IVM Podcasts expects to see many more brands to start seriously investing in integrations on existing shows as well as in branded content initiatives. </li><li>He further walks us through the growth trajectory of podcasts and the future it holds in India. </li></ul> ‘The podcasting industry’ – a fancy word for a handful companies – in India, it is about to come of age. 2020 is the year where we are going to see the world of media consumption change in a significant way. Digital audio, which has so far been dominated by Music consumption, is poised to see talk content take off. It's always been our contention at IVM Podcasts that people in India were suffering from a lack of content, i.e. supply. Once they discovered the medium audiences have been incredibly loyal and sticky. In 2020 I see a few things playing out: Explosive Growth in Audiences and Content Podcasting has been a primarily English language, urban phenomenon in India so far. This is poised to change in 2020 and change in a dramatic fashion. As more people are looking at additional forms of digital content consumption, we will start to see more and more creators of regional language content emerge. Even though its primarily English the audience growth is impressive, we more than tripled our audience base in 2019. When we supercharge this growth with application of programming in the languages people are most comfortable in, I believe we are at the bottom of that anticipated hockey stick. Where have you been all my life? For those of us who enjoy listening to podcasts it becomes one of the main ways we consume media. In the US a regular podcaster hears about 7 hours a week of podcasts. That’s an extraordinary number. At IVM Podcasts we have done a few listener surveys and one of the main takeaways for me has been how recently people have started consuming podcasts and how big a part of their consumption diet it has quickly become. 85 % of our listeners heard their first podcast after 2015, and still the average number of podcasts consumed is over 7 a week. New Platforms emerging and old platforms doubling down We will see the emergence of new consumption platforms in 2020, whether its fresh new apps, smart speakers, internet connected car systems, smart exercise machines or something we cant even think of right now. We will also see older platforms like OTT Music apps, OTT video apps, podcasting apps all start to double down on podcasting. The economic arguments for why a music app should look at podcasting seriously are well documented and still hold true in today’s environment. Now this is being validated across the world and we expect Indian platforms to follow suit. Enter the Advertisers 2020 is going to be a watershed for brands to enter audio. We have already seen a few mainstream brands do some experiments in 2019. In 2020 I expect many more brands to start seriously investing in integrations on existing shows as well as in branded content initiatives. Last year we had some great companies like Intel, Storytel, Accenture, Motilal Oswal, Aditya Birla Mutual Fund, PayTM Money and more start looking at the space. After their initial activities most of these brands have been pleased and want to intensify the association with the medium. Some of the best ad recall rates, and audience understanding of a complicated brand message were demonstrated through these campaigns, and we are excited to see more brands join in. Enter the Corporates I believe that one of the big drivers for the business is internal company podcasts. Podcasting is an incredibly intimate and authentic medium. I believe this solves a big problem at large organizations, where the rank and file typically do not have a great deal of access or insight into top managements thinking. As a way of setting culture, and passing company wide goals a regular short podcast to be deployed over a company intranet is going to be a gateway for many new listeners. It has never been more exciting to be a part of this “industry” - to see what we have in front of us, we can feel the accelerating interest, we can see the audience growth. - By Amit Doshi, Founder &amp; CEO, IVM Podcasts

Podcast industry in India: Opportunities for 2020

<ul><li>PWC’s recently released report states that Indian monthly podcast listeners reached 40 million at the end of 2018, which was a 57.6% increase over 2017’s 25.4 million</li><li>Marketers are slowly experimenting with the medium, with the aim of presenting consumers with targeted content</li><li>The coming in of Spotify has helped increase the buzz around podcasts in India</li></ul>Over the past few years, the kind of content consumers are seeking out and accepting has seen a vast change. Today, it is all about engaging content that they can relate to. Content that can be consumed on-the-go has also seen a huge gain in popularity. It is perhaps this evolution that is making podcasts an increasingly favored content medium for consumers. While podcasts enjoy a huge popularity in markets like the US, India is also slowly waking up to it. Now almost all news publications have their own podcasts. Moreover, music streaming platforms that are witnessing a good growth in the country are also increasing their podcast offerings. Even the numbers are encouraging. Research by IAB and PwC stated that US advertisers spent an all-time high of $479 million on podcast ads in 2018, up 53% from $314 million the year prior. While the Indian market is still at a nascent stage in terms of its uptake of podcasts, PWC’s recently released report titled ‘Global Entertainment &amp; Media Outlook 2019-2023 India’, stated that Indian monthly listeners (defined as people who listened to at least one podcast in the last one month) reached a total of 40 million at the end of 2018, which was a 57.6% increase over 2017’s 25.4 million. In terms of consumption of podcasts, India ranks number three, following the US and China. Owing to the growing increase in audio-streaming services in the country, podcasts offer a massive opportunity for brands to reach out to its consumers, where they can target listeners with personalized content. The Story So Far It was in 2016 that Audioboom, a leading audio platform for hosting, distributing and monetizing content was launched in India. That was also the time when Jio had launched in the country and everybody got access to cheap, affordable data. However, that was when video content was seeing an explosion. “There was a lot of focus on video at that point in time and when we went to talk to people about focusing on audio as an on-demand platform, we were scoffed upon. People couldn’t see the opportunity that we could see in the model back then. However, things have become better since the second half of last year. Today, there is a lot more acceptance, people know what we are talking about and they want to hear us out,” says Aman Goklani, Head of India operations, AudioBoom. From 2016, when it received about 200,000 listens a month, the platform has seen a substantial increase in its monthly run rate. “From 200,000 listens in a month in 2016, we today stand at around 1.7 million listens each month. We ended June of this year with about 2.5 million listens. So, we have seen more than 10x growth since we launched,” adds Goklani. While in the larger scheme of things, Goklani maintains that 2.5 million listens is not a very big number, he adds, “A video can get these numbers in probably a few days. However, in our scheme of things, we are the largest, in terms of numbers, in India.” To put things in perspective, globally the UK-based audioBoom gets around 70 million listens in a month, with the US accounting for 60% of its listens. If one were to delve deeper into the reasons for this sudden increase in enthusiasm around podcasts, <keyword id="2904495" type="PERSON" weightage="20" keywordseo="Sreeraman-Thiagarajan">Sreeraman Thiagarajan</keyword>, Chief Executive Officer (CEO), <keyword id="5557033" type="UNKNOWN" weightage="20" keywordseo="Agrahyah-Technologies">Agrahyah Technologies</keyword> that owns and operates Hindi podcast platform, aawaz.com says that there are several. “India has been an audio-first country for a long time. The term podcast is new in India. However, all our radio stations have been coming up with audio content on their platforms for the longest time. Even in the past, shows like Purani Jeans have always been around. However, the sudden excitement around podcasts is because of multiple reasons. Firstly, global podcast companies are now looking at India. BBC, NPR, Audible, Google podcasts and Spotify have been operating in India for the past 6-7 months and have brought in some excitement,” he says. He also points to the fact that non-music content is picking up pretty well in India. “Imagine you’re in the mood to listen to some devotional content, or want to listen to a horror or romantic story. People consume a lot of content on video but if they are busy and don’t have the time to watch something, they could still listen to content. So that is what is giving us a lot of traction,” he adds. The increasing demand for smart speakers in the recent past has also been an important reason for the growing enthusiasm around audio content. The opportunities ahead Globally, Spotify has been talking a lot about the opportunities around podcasts. It has also been investing a lot on acquiring podcast companies. Closer home, music streaming platforms like Gaana and Saavn are also trying to promote the podcasts that they have to offer. So, what are the opportunities for brands here? Prashan Agarwal, CEO, Gaana says, “Podcasts are a great channel for brands to tap into a highly engaged niche audience. Most savvy marketers understand the difference between top-of-the-funnel and bottom-of-the-funnel campaigns, and appreciate the role for the top-of-mind recall. This is where this genre can serve as a great platform for brand building, with streaming players and publishers helping marketers navigate ways to seamlessly integrate their brands into the narrative.” Gaana runs some popular podcasts on its platform including Mirchi Murga by Naved, Kahanibaaz by Ashish Vidyarthi, Ek Rang Ishq Ka and others. Apart from this, they also source aggregated content from podcast platforms like IVM and Audioboom. Speaking about the opportunities he sees in the medium, Amarjit Batra, Managing Director India, Spotify says, “In India, podcasting is very young, but we see immense potential given the immersive and intimate nature of the medium. Factors such as increase in commute time, higher awareness around streaming, and India’s position as a knowledge economy establish that there is enough scope for podcasts to become mainstream in India. We believe that the future of audio is limitless and the potential growth of podcasts as a new form of audio storytelling is garnering steady popularity amongst the urban audio streamers in India. Our goal is to work with the ecosystem of creators, brands, and partners to address these challenges so that there is a wider understanding and acceptance of this new and relevant medium.” He further adds that while the podcast segment is still at a nascent stage in India, marketers have shown interest in experimenting with the medium. “We've had brands and advertisers show interest because they believe in the audio format for user engagement, and have seen how well podcast advertising works in our other markets.” Meanwhile, podcast network IVM, which is working on popularizing the medium among consumers and marketers, has already worked with brands like PayTM Money, Aditya Birla Mutual Fund, Motilal Oswal. Speaking about why brands are seeing value in podcasts, Amit Doshi, Founder &amp; CEO, IVM Podcasts says, “There are two primary opportunities for brands to work with podcasts - promotions on content that is being created and distributed by us and creating their own branded content. We have seen forward thinking brands like PayTM Money, Aditya Birla Mutual Fund, Motilal Oswal, Accenture, Storytel, Savaari etc. are already working with us. Increasingly, we are seeing interest from other brands as well in using this space to achieve their objectives.” <keyword id="3054169" type="PERSON" weightage="20" keywordseo="Varun-Duggirala">Varun Duggirala</keyword>, Content Chief and Co-founder, <keyword id="2951846" type="COMPANY" weightage="20" keywordseo="The-Glitch">The Glitch</keyword> hosts an IVM Show called ‘Advertising is Dead’ where he speaks to leaders, creators and experts from all ends of the media, entertainment and advertising space to understand the new media world order. On how brands can make the most out of the medium, he says, “Podcasts present a unique opportunity for brands to seamlessly integrate themselves into very focussed content pieces which can be developed and distributed at scale with a much lower cost barrier. Also, advertising within episodes themselves can very easily be blended into the storyline/narrative of the episodes themselves so the value chain of the content imbibes the value chain of the brand. Unlike video content, podcasts allow consumers to blend content into their daily schedule in a way that doesn’t demand 100% focus but still blends into your content consumption habit cycle especially during commutes, mornings/late nights as well as mid-day breaks.” According to industry estimates, currently the cost of podcasts could lie between Rs 4,000-6,000 per minute. So for a lot of marketers looking at reaching out to an engaged audience, podcasts could be a comparatively cost effective option, too. Storytel India has worked on multiple host read campaigns both on IVM and audioBoom. Speaking about the kind of value the brand saw from the partnership, Sukirti Sharma, Marketing Manager, Storytel India, says, “Podcasts hook the listening audience, people who are already in the habit of listening and are familiar with the format. Also, it is somewhat about personalised choices and therefore brings in different kinds of audience. With each genre or discussion type, you attract a different kind of audience ie those interested in history or those who want to listen to the topical issues of the changing culture among the urban Indian. With myriad topics, it attracts diverse listening communities. Podcasts have their own unique space. We are in the business of telling stories and we believe that audio is the future. Podcast is a part of that audio world and has its own unique space so we would certainly use podcasts again in the future.” For the longest time, lack of awareness was a big challenge for the podcast industry. However, with more and more people talking about it, both globally and in India, brands finally seem to be warming up to the medium.

Are Marketers Warming Up to Podcasts in India?

<ul><li>Radio and podcast companies have to work from their studios. So how are they functioning remotely amidst the Coronavirus threat?</li><li><keyword id="82551" type="ENTERTAINMENT" weightage="20" keywordseo="Big-FM">Big FM</keyword> and <keyword id="3826899" type="PERSON" weightage="20" keywordseo="Mirchi-Love">Mirchi Love</keyword> have instituted work from home for the entire team. On the other hand, <keyword id="9734" type="COMPANY" weightage="20" keywordseo="Radio-Mirchi">Radio Mirchi</keyword> and IVM Podcasts are still calling their drive-time jocks and speakers, respectively, to their studios. 90% of their employees are working remotely. </li><li>The use of technology has enabled most of these players to allow their employees to work from home.</li></ul>In wake of the Covid-19 outbreak, lots of agencies and media companies have asked their employees to work remotely, in an attempt to implement social distancing. However, there are a lot of organisations for which working remotely might be difficult, like radio stations, that work out of their studios. So how are these radio stations dealing with the situation? Have they asked their employees to work from home and if yes, how are sole of the roles, that require people to be in studios, being carried out. We reached out to some of the people heading a few of India's biggest radio stations to understand how they have been working. Big FM says it has been making use of advanced technology to make work possible during a time like this. Abraham Thomas, CEO, Big FM said, "Big FM has moved completely to a remote working model where all our 59 stations are live from their homes, thanks to technology while our business teams interacted with over 500 clients, all in a day's work, from home. We believe we have two key responsibilities, a) stay safe - our teams, our families, our communities and society at large and b) stay open for business to keep the economy moving forward and people employed so that societies are able to function." On being asked what kind of technology they are using to make their work possible from home, he added, "We had built-in contingencies and our disaster management plan helped us to shift seamlessly to remote working using our sound equipment systems connected via VPN." 
	<div type="twitter" handle="bigfmindia" handlename="92.7 BIG FM" image="http://pbs.twimg.com/profile_images/1146347435826040832/o6yLq9qK_normal.png" favoritecount="137" retweetcount="12" status="Privileges of working from home!! Nothing can keep BIG FM and it's RJs away from its listeners! For the Next Few Da… https://t.co/lzec65yNzN" createdat="1584379008000" id="1239601522293391361"></div>



 Mirchi Love is also stationed at home. They are using Virtual Private Networks and softwares to do their work remotely. Indira Rangarajan, National Programming Head, Mirchi Love, said, "Our listeners depend on us to give timely and important updates especially during times like these and we’ve geared up to do just that. However, this is not at the cost of the health of our colleagues. The entire organisation has worked together to ensure that we give our best on air while working from home. We are using all possible tools at our disposal to make this happen." On the other hand, Yatish Mehrishi, Chief Operating Officer, Radio Mirchi said that they have allowed 90% of their employees to work remotely. Drive-time jocks are still going to the studio to record, strictly on their private vehicles. They also have a backup plan in place in case the situation worsens. He said, “90% of our employees are working from home. We just set up a board meeting today and only the internal team was part of it, else, everybody is working from home across the country. We are asking the drive-time jockeys to come, do their shoots and go. They come and go at different times. As a broadcast medium, we have a responsibility towards the public as well. We have to send in the right messaging, be in touch with the government. However, if the situation goes out of control and jocks cannot come in, we have technology available so that they can work from home. Our IP systems are all in place, all systems are equipped to facilitate that. Right now it is not so bad a condition.” Only one person is allowed in Radio Mirchi’s studio at a time and they are sanitising it twice a day. So what are the challenges of having employees of a radio station work remotely? Nisha Narayanan, COO and Director, RED FM and Magic FM explained, “As a radio network, we have certain in-built studio equipment which are crucial while producing on-air shows. RED FM’s technical team is trying to make it as convenient as possible for our teams to work effectively together when working from home. Special softwares are being installed on laptops as an alternative to studio-based equipment to ensure a hassle-free production process. Through such measures, our teams are constantly working towards ensuring smooth operations even when we are working at home. Working from home has certain other set of challenges such as the teams would not be readily available for each other and delay in on-air scheduling among others. Keeping in mind all these challenges we are virtually connecting everyone to ensure no work is being hampered during this period. For employees who might have to visit the office for some important work that cannot be done from home, we have arranged for all the necessary safety measures at our office.” Narayanan further shared that the organization is taking a lot of measure to ensure that people who do have to come to office are safe. She shared that RED FM is encouraging meetings via video conference wherever possible, visitor screenings at the entry gate, increasing frequency of office sanitization and has also implemented the temporary discontinuation of biometric attendance. “We are also providing cab services to employees who might have to travel for some urgent work or in case of any emergency,” she added. IVM has also instituted work from home for most of its employees. However, for some, it is still a work-in-progress. “It's a tremendous challenge given our busy studio recording schedules. We've instituted WFH for most people and want everyone to be safe,” said Amit Doshi, Founder, IVM Podcasts. Kavita Rajwade, Co-founder of IVM Podcasts, adds, “Our studio is not 100% shut but we are minimising operations from there. We are going to temporarily move to recording online and remotely.”

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Podcast industry in India: Opportunities for 2020

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