2023 saw massive growth in the podcast industry and there is every indication that 2024 will continue that trend. It is now becoming almost a requirement for a major business to have some kind of presence in the podcast landscape, with a proprietary with which to communicate stories, facts, and brand identity to a receptive audience. It has never been easier, or more important, to start a podcast and use that platform to reach out to a global audience. A few industries are particularly ripe for an expanded podcast presence.
The term ‘financial services’ is a broad umbrella that encapsulates many different fields and industries including insurance, real estate, private equity, venture capital, financial media services, banking, investment management, financial planning, credit and lending, and fintech.
Podcasting enables financial services organizations to build their brands and establish their credibility as valued financial advisors, going beyond merely fulfilling one specific function that a customer might need. As a marketing tool, podcasts build long-term customer intimacy, accelerate content development, and support lead generation in new markets.
And clearly, the financial services industry has recognized this potential. The number of financial services podcasts increased by 40% last year. The average listener for these programs has a household income of over $100,000 annually, and the global market is projected to reach $1.5 billion by 2025.
Pharmaceutical and Life Sciences
There aren’t many industries bigger than biopharma and life sciences. The global biopharma market is expected to grow to $227 billion in value just between the years 2023 and 2028.
And podcasts, believe it or not, are a part of that industry, and their influence and importance are growing right alongside the global marketplace.
Since 2020, the number of pharmaceutical and life sciences podcasts has grown over 200%, with a global audience of now over 100 million listeners.
With a branded podcast, a company can showcase its scientific breakthroughs and healthcare innovations directly to the consumer and clients. With the space provided by the podcast format, it’s a chance for experts to demystify complex research through the power and emotion of storytelling. A branded podcast in the pharmaceutical and life sciences spheres offers a unique platform to share scientific discoveries and deepen engagement with patients, clinicians, specialists, and other stakeholders involved in delivering positive medical outcomes.
Increasingly, the question companies are asking is not whether or not they should have some kind of branded podcast presence, but whether they can afford not to. These are just two examples of industries where there has been an explosion of activity in this field as brand after brand has realized that podcasts are a direct path to the hearts and minds (and ears, of course) of their clients and partners.
If you’re ready to take your first steps into this exciting and vital space, ModPod is here to help answer all your questions about how to create a podcast.