Traug Keller, SVP Production, Business Divisions at ESPN said that 92% of audio listeners used FM/AM radio this past week but there has been rapid growth in digital audio channels, primarily podcast; 25% of the current audio audience for ESPN uses digital channels. The primary avenue for digital audio growth for ESPN, and other talk show programs, has been through podcasting. The reason podcasting has been so successful, according to the panelist, is the ability to tell a story. In a podcast, the content provider has very few restraints compared to a traditional audio program. Keller explained that the audio game began to change about 10 years ago so ESPN began to provide content through digital platforms. With this change, the company wanted to be aggressive and provide content through all audio channels. The biggest challenge for ESPN in the digital audio sector has been an effective monetization strategy, but Keller said that the company was more focused on providing great content to develop a following and the monetization would come with time.
Along with Keller, Colin Cowherd, host of The Herd for ESPN, also provided an interesting point of view about the changing of audio and talk radio. Cowherd also emphasized the importance and growth of podcasting because it takes away the limits of traditional radio, and allows the speaker to provide a more in-depth perspective of the discussed topics.
“Podcasting empowers the public…You give them sharp content, the audience will come and that is empowering. The audience is smarter than we give them credit for…it forces us to be smarter,” said Cowherd.
Stephen A. Smith of ESPN was also a member of this panel and spoke to the differences of radio and television, and why her prefers to provide content through the radio.
“In 2009, I departed from ESPN for about two years and when I left ESPN, I didn’t miss TV, I missed radio. I missed being able to expound on what I had to say…something that I never had a problem with on radio. I could take my time. It was my domain..there are those you have to answer to, but when you are on the air, from my experience, it is the Stephen A. Smith show.”
My biggest take away from this panel was how much all of the panelist reassured the audience that radio was here to stay, and dispelled the common rumor that radio and audio is fading away. Traditional radio may be declining to a degree, but the content is just moving to different platforms like podcasting. I don’t remember which panelist provided the statistic, but there has been over one billion downloads of a podcast just from Apple since the medium has been available. Audio still provides a storytelling perspective that television does not, which is why the medium will continue to be successful.