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Podcasts: The Future of Storytelling

───   15:20 Wed, 10 Mar 2021

 Podcasts: The Future of Storytelling  | News Article

The latest PWC Media Outlook report forecasts that the South African podcast market will double to 19 million monthly listeners by 2024.

Podcasts have proven to be the fastest-growing sector of media consumption, enabling the digital migration of media brands. This year, African Media Entertainment (AME) is continuing to embrace the digital revolution by securing the South African rights for Wondery podcasts, the world’s largest independent podcast producer.

Dave Tiltmann, the chief executive officer of African Media Entertainment (AME), says “This expansion into audio consumption on-demand comes at a critical point for the group as our core commercial radio business is extremely healthy. OFM and Algoa FM dominate their respective markets, as well as the Moneyweb digital platform which has maintained its status in the financial media space for years.”

According to Reuters Institute Digital News Report 2019, 1 in 5 people use podcasts to keep up-to-date with politics and current affairs, with approximately 19% of respondents who have interests in specialist or lifestyle podcasts.

“Covid sped up the migration to digital almost overnight. Everywhere in the world, people are spending more time using digital devices. Where other media types are struggling to adapt to the digital world, it is a natural progression for radio. Where terrestrial radio stations are bound by their transmitter networks, the digital space allows us to reach listeners wherever they are, and whenever they want to tune in,” Dave says.

Twenty of Wondery’s podcast shows have reached # 1 on Apple Podcasts, whilst being the only publisher to have simultaneously claimed the # 1 and # 2 ‘Top New Podcasts” slots on the annual Podtrac ranker. Declan Moore, head of International at Wondery says, “We’ve been delighted with the response of South African listeners to our immersive storytelling approach including this month's 'The Apology Line’ which remains in the Apple Podcast charts top ten, and our always-on show ‘Business Wars’ which continues to dominate the business charts”.

AME’s radio platforms include Algoa FM, OFM and Classic 1027; whilst the digital, publishing and marketing services include MediaHeads 360, Moneyweb, Mahareng, Digital Platforms, Central Media Group and sales house United Stations. “After a lifetime in radio, we believe in the power of great storytelling,” says Rivak Bunce, managing director of United Stations. “We are excited about the opportunity to create a space where our advertisers can benefit from the incredible emotional engagement that is typical of the podcasting environment,” he says.

Furthermore, Wondery has perfected the art of working with advertisers and brands to strategically place adverts within the podcasts. According to AME’s Chris Borain, advertisers will now be able to speak directly to their target audiences through United Stations’ collaboration with Wondery. “The strength of digital is that you can measure everything, which means that your advertising can be very focused,” says Borain.

In addition to providing compelling advertising through their collaboration with Wondery, AME is utilising the strength of their audio experts by enabling media brands to produce their own podcasts, which will be distributed through the AME network.

End.

Media Enquiries:

Siyathetha Communications: Ed Richardson 083 656 9757

Africa Media Entertainment: Chris Borain 078 1655 855

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