iHeart has spent over $100 million lately to enhance its podcasting efforts.
Cumulus while spending virtually nothing is using podcasting as its savior from poor spot revenue results.
Entercom – check, podcasting spoken there, too.
Meanwhile Spotify, one of the giant music streaming services along with Apple, invested over $400 million of late – with more to come – to make podcasting a co-equal with music much to the chagrin of record labels.
The questions are – can a radio company compete with mega apps that have such dominance?
And what about the law of unintended consequences?
In other words, do we have first clear look around the corner at how podcasting will affect radio’s main terrestrial business?
Does it cause radio listening declines?
Will podcasting help or hurt music streamers and radio?
What will be the effect on younger audiences?
Is it smart to promote podcasting as much as radio does?
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- Cumulus Hiding Extent of Their Financial Woes
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- Nielsen Accused of Extortion by Non-Subscribers