This week’s FWD covers new technology from Spotify. The broadcast-to-podcast feature allows radio broadcasters to turn existing audio content into podcasts, enabling broadcasters to re-distribute and re-monetize to reach new audiences and give loyal listeners more access to content.
According to an Edison Research report (Q3 2022), the time spent listening to broadcast radio grew online by 50% between 2019 – 2022. Spotify noted that more consumers are tuning into the radio via their digital devices, creating an opportunity to modernize traditional media.
The streaming platform also highlighted eMarketer’s prediction that podcast ad spending is forecasted to increase to $2.2 billion in 2023, emphasizing the need for broadcasters to explore ways to repurpose their audio content for podcast audiences.
News:
- Running from June 12-16, the first-ever ‘Metaverse Beauty Week‘ will be hosted on Decentraland, Spatial, and Robolox, featuring virtual experiences from the biggest beauty brands.
- Welsh scientists have built an affordable 3D bioprinter using Lego that is capable of printing human tissue for scientific research, addressing the issues of expensive 3D printers.
New Innovation:
- Female-founded social networking start-up, RTRO, connects brands, creators, and their fans and followers, focusing on human connection and communities, not algorithm-driven content.
Latest Insights:
- Instagram tests new processes to help brands source user-generated content to better promote their products in-stream.
- Meta and TikTok have launched new initiatives to facilitate connection between brands and creators.
