Market Data 
Guess what is the fastest growing audio-visual content in the U.S.? Surprise, it’s vodcasts, which is the term used for video podcasts. Podcasts have already taken over the nation, with 130 million people listening to at least one podcast per month, which is a three-fold increase in the last ten years. But the surprising part of this growth is that about one-third of podcast listeners also watch them, typically on YouTube or Spotify, which together outpace all other podcast platforms combined. The net result is a 25% increase in the number of people in the U.S. watching vodcasts over the last two years, which is higher growth than for any other audio-visual content. What follows below is my interview with Matt Dysart, a partner at Greenberg Glusker who represents numerous clients in the burgeoning world of podcasts and vodcasts.
SM: Just as audiences have finally become familiar with the podcast as on-demand audio programming, the medium seems be evolving toward video. Can you help us understand what is a video podcast?
MD: “Video podcast’ or “vodcast” is simply the industry term for a podcast presented in video format instead of audio-only. The most common vodcast format is the interview or “chat show” format often featuring a comedic host, either in conversation with a co-host or interviewing guests. At their best, these shows can feel like a developmental, more accessible hybrid of the radio and television talk shows which audiences have loved for many decades.
SM: It seems like the top video podcasts are growing more quickly and have larger audiences than audio-only podcasts.
MD: The chat or interview talk shows which are growing so quickly on video platforms have long been the top-performing podcast format. These shows can be produced more quickly and less expensively than long-form narrative series, and the listener or viewer can engage with the show more casually, as “background noise” to another activity.
SM: Audience are used to seeing some of these personalities on screen, so do they naturally translate to a video version of the podcast?
MD: That’s part of it, but many of these top talk shows are hosted by personalities who were not initially household names, like Alex Cooper and Shawn Ryan. Regardless of celebrity, these hosts are charismatic and relatable, and audiences often want to experience that that on screen, where the nuances of conversational humor or insight may be more fully experienced.
SM: How is social media relevant to these vodcasts?
MD: There are only a few proven growth marketing tactics for podcasts, one of which is publishing episode clips across Instagram, TikTok, Facebook, etc. Video clips which can capitalize on the algorithmic acceleration available on these platforms are an essential piece of the rapid growth in audience size and engagement we are seeing for video podcasts.
SM: Do podcasts make more money from the video versions?
MD: The bigger the audience, the more advertising revenue, and the potential audience for vodcasts is enormous. For example, Spotify, Apple, and SiriusXM collectively report around 130 million monthly audio-only podcast listeners. That’s nowhere close to YouTube, which has over 2.7 billion monthly active users consuming over 1 billion hours of video per day.
SM: Any predictions for the future of vodcasts?
MD: I think we can safely say that for the foreseeable future, the largest and most valuable podcasts will be vodcasts. Ted Sarandos indicated on Netflix’s most recent earnings call that top video podcasts may “migrate” to Netflix, which portends a potentially huge new marketplace and ever higher prices for these shows. If streaming platforms like Netflix decide to pursue exclusive distribution deals with top vodcasts, and if YouTube wants to retain them, the competition will increase revenue. The leading talent will take big paydays and migrate to streamers, and some will insist on owning their own audience across audio, video, and social channels. a potentially seismic shift is evolving as streaming television platforms pursue their next phase of growth and cost efficiency.
Audio distribution isn’t going anywhere so long as we are commuting or studying or running. I’d love to see an audio platform join forces with a streamer to land a massive joint exclusive deal for a top show.
