Harnessing the Business of the Medium

The previous entry here a couple weeks ago began with more thoughts about how changes in communication media shape the messages or content transmitted. The post ended, however, with questions about how acquisition deals in podcasting could further change this medium.

Spotify is acquiring a lot of podcasting companies. It appears to be the main media concern out there that is doing this. Will others get into this game? HBO is doubling its “McMillions” documentary series with a behind-the-scenes and extras podcast. Netflix is making nominal efforts in the podcast world with its Irishman podcast as well as its short interview series with stars of new shows and movies on the service called “I Hate Talking About Myself” (which itself is a quick-hit mini podcast of 10 minutes or less per episode, a la The Ringer’s Spotify exclusive, “The Hottest Take.”)

But these feel like token efforts and nobody’s idea of a serious challenge to giant generators of content like Wondery, The Ringer and Gimlet. Amazon seemed to have the scale to succeed in this field but pulled back from its Audible Originals shows in August 2018, only a little over two years after their launch. HBO and Netflix certainly have the resources and connections with talent to compete in the podcast or audio entertainment space if they so chose. Do HBO and Netflix know something that Spotify doesn’t?

Anything HBO, Netflix or Amazon does in podcasting has to start as a loss leader at this point to attract attention, or it has to be bundled into its existing subscriber offerings. Spotify, on the other hand, can put new shows from the companies it has acquired behind its own paywall, while using the great volume of already popular shows from Ringer, Wondery and Gimlet as loss-leaders or attention-grabbers. That’s a lot larger critical mass of content. 

On the Recode Media podcast, which analyzes these matters, Peter Kafka said on February 6 that Spotify won’t put popular podcasts behind paywalls, but will “encourage” its newly acquired properties to generate new exclusive series. This has already happened with The Ringer about to launch “Music Exists” with Chuck Klosterman and Chris Ryan.

What’s the point of all this? It’s so hard to get noticed in the flood of podcast content out there, that having the promotional muscle that a giant like Spotify can provide is a must for a new podcast to catch on in large numbers.