Podcasting has been a media category since at least 2003, when the RSS distribution system was initiated. As it has grown in popularity and recognition its definition has become less crisp. Audio, sure — but what about video? RSS, sure — but what about YouTube? Ad-supported, sure — but what about brand-owned shows?
Four defining categories are brought together in the formal launch, along with (not necessarily all) participants:
- Streaming & Video Platforms (Spotify, SiriusXM, and YouTube)
- Hosting & Representation: (Libsyn and United Talent Agency[ (UTA])
- Measurement & Analytics: Podscribe and FlightStory
- Major Advertisers: BetterHelp and DraftKings
The premise of this public launch is that podcasting has identity and standardization challenges, and these issues cost the market millions in lost advertising revenue (possibly close to a billion). Three solutions are sought by his initiative:
Definition: The rise of video podcasting has blurred lines between podcasts, television, and social lips. A standardization is sought which will separate podcasting from general video content.
Measurement: Video metrics differ from traditional audio download counts. Some kind of standardization is sought.
Budget clarification: Podcast advertisers sometimes argue about whether a campaign should be funded by audio or video budgets, possibly slowing adoption or campaign scaling. Clearer attribution guidelines would give advertisers confidence.
Oxford Road’s initiative in forming the Alliance for Measurement in Podcasting taskforce will be expressed in final form with comprehensive guidelines at the company’s Chief Audio Officer Summit in July, at the Terranea Resort in Rancho Palos Verdes, California.