Why is it harder than ever to create a hit podcast?

if a podcast falls in a forest…

If you feel like there are millions of new podcasts for you to try, it’s probably because there are. And if it sounds like you haven’t heard of a big, new hit in a while, it could be because you haven’t.

Despite the expansion in podcast availability, options, and overall listenership, “the audience for each new show is shrinking broadly” Bloomberg report.

For example, of the 10 most popular podcasts in the US last year, all had an average age of over 7 years, with 3 of the top 5 podcasts on the internet. decade old. Only some of the podcasts in the top 50 are under two years old, and none of them are in the top 25.

The number of new podcasts (of which there are more than ever before) has grown faster than podcast audiences, meaning the total number of listeners per show has dropped as options continue to expand. However, older shows, which made their name years ago in a less crowded market, continue to attract more fans as newer shows struggle to win converts.

“Finding an audience is always easier when you catch the trend early” Bloomberg explain.

So now what to do with it? Several executives have told Bloomberg They wish the industry would learn from radio. Companies should use existing visits to advertise new programs, efforts that may involve “investing in marketing and format innovation,” Bloomberg write.

Another strategy involves taking advantage of overseas markets; Smart programs may have more room to grow in other countries than in the US

Finally, “it’s not a new podcast that can’t be a hit” Bloomberg write. “But the standard for being a hit is higher, which means it’s going to take longer (and more work) to get there.”