PODS Entertainment Group, a subsidiary of Jeff Burton’s All Entertainment Media Group, recently announced the signing of NBA icon and business powerhouse Charles D. Smith.
Under PODS, Smith will be able to continue developing his “Swivel Podcast” where he talks with bright minds in business, sports, and entertainment. He’ll also be launching a new podcast called “Undiscovered Gems,” which will spotlight innovative business leaders.
The news comes at a time where Black listeners have not only closed the gap but are exceeding other groups when engaging with podcasts.
According to a 2022 study done by Edison Research, the Black community’s listenership grew to 42 percent – a seven-point jump from the year prior – despite the overall two percent listener drop. The study also shows a gender gap – whereas the majority of listeners are Black women, the most frequent and weekly group of listeners are Black men.
The Edison study also suggests that Black listeners average of five hours a week engaged with podcasts. Half say that most – if not all – of the podcasts that they listen to have a Black host. This equates to dollars for advertisers since most listeners that engage with Black hosts are more likely to take action once hearing about an offer – 53 percent will purchase the product or service, and 51 percent said that they will use promo codes or discounts.
All of this data means that not only is the Black community engaging more with podcasts than any other group, but they are also the most active listeners. Their support is also geared primarily toward Black hosts, making Black podcasts prime for ad revenue.
A 2022 Neilson report on how Black audiences engage with radio underscores these points. Like podcast listeners, Black listenership for radio has proven to be a key player. Representing nearly $1.6 trillion in buying power on the consumer market, 91 percent of the Black community is reached monthly through radio and they’re the most engaged group – spending 20 minutes more with audio broadcasting than any other group.
Like Black podcast hosts, Black-owned radio stations are now the key to revenue on the airwaves – bringing in more than 6.4 million Black listeners every week. These listeners are also extremely active. According to the Neilson study, 84 percent are more willing to switch their home care products and 37 percent are willing to switch their personal care products.
Black listeners aren’t the only group that’s actively engaging with podcasts. The Hispanic community is also on the rise.
In 2022, an Edison Research report found that 59 percent of the Hispanic population listened to podcasts – a 3 percent increase from the previous year. When broken down by monthly listenership, the Hispanic community nearly mirrored the general population with 34 percent saying that they listened to a podcast within the last month.
When broken down by gender, Hispanic women tuned in more than men last year – rising from 42 percent to 47 while men decreased from 58 percent to 53.
Hispanic listeners have also been more proactive when interacting with advertisements from podcasts. 55 percent said that they purchased products or services, 52 percent said that they use promo codes and discounts, and 66 percent said that they were more likely to recommend a product or service because of the advertisement.
When it comes to podcast creators, Hispanic creators are also becoming a prime opportunity for ad revenue. Though they made up 24 percent of the podcasting community, data from the Edison report found that their Hispanic listeners are more inclined to interact and engage with advertisements than Hispanics that don’t listen to them. The report also found that engagement is higher when the listener is tuned in weekly rather than monthly.
With so much potential for podcast revenue in both the Black and Hispanic communities, PODS Entertainment Group’s decision to join forces with Smith is a great move.