Here's why podcasts are rewriting the rules of brand engagement

Storytelling has long been the beating heart of brand marketing and in this digital age, with podcasts reigning supreme in the realm of media consumption, it's no wonder that an ever-growing cadre of brands is seizing the mic, eager to share their stories with audiences far and wide.

Brands of all sizes are increasingly launching their own podcasts, especially focusing on informative and educational content, either by themselves or with the help of podcast production companies.

Industry leaders highlighted that podcasts are helping brands share their stories and connect with their fans in a deeper way than just writing blogs or posting on social media.

So, as brands increasingly favour podcasting over traditional news for factual content, it's intriguing to explore why this shift is happening; which brands are excelling in podcasting; how well they're doing; their growth trends; and other related insights.

Brands' growing interest in podcasts for factual content

According to the FICCI EY report, audio content consumption has grown across genres like stories, education, spirituality, adult content, life skills, business help, health and many other genres.

Amita Srivastava

Amita Srivastava, Vice President – West, Carat India, stated that podcasts thrive on niche content and thus, can cater to specific demographics and interests.

“This allows brands to reach a highly relevant audience with their message compared to broader news coverage. Most podcast listeners tend to be highly engaged, giving their full attention to the content. This translates to better brand recall and message retention compared to passively consumed news,” she said.

On why podcasts are brands’ favourites, Srivastava said that brands have greater control over the narrative and message when creating their own podcast compared to regular advertising in news media.

“Since podcasts offer a more intimate and personal listening experience than news, it allows brands to build trust with their audience,” she added.

Nisha Sampath

Adding to the conversation, Nisha Sampath, Brand Consultant and Founder, Bright Angles Consulting, said podcasts are successful in engaging audience attention over a longer time span, even when discussing factual topics. Podcasts attract audiences craving a deeper perspective which is often missing in the echo chambers of social media.

“The audience stickiness makes podcasts compelling for brands. Also, podcasters build strong relationships with their users, which brands would like to leverage,” she added.

Lloyd Mathias

Lloyd Mathias, Business Strategist and Angel Investor, said podcasts have truly flourished, especially since the time of the pandemic. They have emerged as a platform for slightly more serious communication compared to the quick-scrolling content on platforms like Instagram.

“They offer a space for exploring topics of greater depth and interest, providing educational and informative content. Consequently, many media brands have embraced podcasting, like ET morning podcast, Business Today, Business Standard and even Mint have their own podcasts,” Mathias said.

Furthermore, he pointed out that both news and podcasts serve distinct purposes. News is focused on the present moment, providing immediate information such as breaking news, election results, or sports updates. It's about quick, on-the-spot reporting. On the other hand, podcasts offer a more reflective and analytical approach.

Indraneel Gawde

Indraneel Gawde, National Head of Business, Schbang, believes that as brands increasingly invest in podcasts for factual content, there has been a fundamental shift driven by the captivating nature of the medium.

“Podcasts offer a unique non-committal format, fostering authentic conversations that bring out genuine personality and humour. This trend is reshaping the news genre, as audiences seek more engaging and relatable content, thereby redefining the landscape of factual storytelling,” he added.

Amit Doshi

Amit Doshi, Head, IVM Podcasts at Pratilipi, explained that the reason we are seeing an uptick is that for a certain kind of consumer, there is an interest in hearing context, not just facts. The medium allows for a conversational way of presenting information that has resonance for people who are looking for depth.

Vineet Kanabar

According to Vineet Kanabar, host of Story Tellers and Story Sellers, podcasts are a safe content environment for brands. Podcast audiences are more attuned to getting information from these sources as they are better researched and often cover a story from all angles.

“Podcasts also allow creators and brands to go deeper on a relevant topic, giving them more control over the content narrative. Podcasts allow brands to sidestep this and still reach audiences who are interested in factual content,” he added.

Sreeraman Thiagarajan

Sreeraman Thiagarajan, CEO, aawaz.com, believes that brands go where they have an audience. Since people have accepted podcasts and spoken-word audio as a preferred way to spend time, brands are keen to participate. News and factual content in the form of podcasts are a convenient way to get information, especially when driving where you can listen and still drive.

"When we started aawaz.com in 2019, we were in only one language that was Hindi, and now we have over 5 Indian languages. As more and more players create local language content, the category will grow to its potential. We saw this trend on TV 25 years ago, and on YouTube five years ago. More local content means more audience and the cycle continues,” he added.

Arpan Soni

Building upon this, Arpan Soni, Founding member, and VP of Creators Management, IPLIX Media, highlighted that podcasts allow for genuine and unfiltered discussions, creating a unique connection between hosts and listeners.

Samit Sinha

Samit Sinha, Founder and Managing Partner, Alchemist Brand Consulting, said that the biggest factor for brands’ growing interest in podcasts is the ubiquity of mobile devices as well as accessible platforms like Spotify and Apple, which have contributed enormously to making podcasts widely popular. This makes it a viable medium to reach many more people than before.

Pravin Shiriyannavar

Striking a similar tone, Pravin Shiriyannavar, COO, brand-comm, highlighted that in recent times, technology has become widely accessible and affordable, allowing people to create content more easily. This accessibility has led to the rise of podcasts, with skilled storytellers embracing the platform to share their narratives.

“Brands have also begun using podcasts as a tool for both storytelling and product education. This evolution has also seen the emergence of "vodcasts", combining video and podcast formats,” he added. 

Devarshi Shah

Devarshi Shah, SVP and Business Head, Global Creator Network, OML, said that while the market potential is incredible, making it an obvious choice for brands to invest in, podcasts are able to offer consumers what traditional formats can’t.

According to PWC’s Global Entertainment and Media Outlook 2020-2024 report, India is the third largest podcast-consuming country after the US and China.

The market, still described as being in its nascency, is expected to grow at a 30.4% CAGR in its monthly listener base. For one, it lends itself to being a lot more targeted towards a particular audience allowing brands to reach a loyal audience more easily, Shah said.

“They also are a great option for seamless brand integrations without disrupting a listener’s experience while exercising some form of control over the podcast’s content and/or narrative to align with marketing goals” added Devarshi Shah.

Brands effectively leveraging podcasts for factual content

Gawde highlighted that brands such as Bombay Shaving Company and ‘WTF with Nikhil Kamath’ have adeptly leveraged podcasts to deliver engaging and informative content to their audiences.

“Through thoughtfully curated discussions and insightful storytelling, these brands have successfully connected with listeners on a deeper level, establishing themselves as trusted sources of factual content within their respective domains,” he added.

Srivastava also gave a few examples of brands who are effectively leveraging podcasts, including, Big Basket - ‘The Big Basket Podcast’, Amrut Distilleries - ‘The Whisky Trail’ and

HT Smartcast - ‘The Intersection’.

Doshi of IVM Podcasts said that they are doing a show with IDFC First Bank,  A Century of Stories - this is a show where they showcase stories of Modern India.

“We are also doing a show with ICICI  Mutual Fund called Financial Flashback - this is a show where we talk about the history of Finance through the ages,” he added.

Mathias highlighted that many media brands and even some consumer brands frequently sponsor podcasts, particularly those addressing sensitive topics. Backstage, a company hosting insightful podcasts, covers diverse subjects such as male sexuality and feminine hygiene, which are often not discussed among people very comfortably. Despite being US-based, Backstage features numerous Indian brands, offering valuable insights into various issues.

Meanwhile, Kanabar emphasised that in the business space, Zerodha with WTF with Nikhil Kamath, or VC firms like Matrix Partners are creating great fact-based or experience-based content.

Shah of OML emphasised that brands increasingly turn to podcasts to build brand awareness, develop loyal communities and tap into newer audiences.

“A few examples include Bharti Airtel’s  ‘The Airtel Open GATEway’, Cadbury’s ‘The Cadbury Conversation’, Spotify’s ‘For the Record’ and even Slack has ‘Slack Variety Pack’ and ‘Work in Progress’. As for OML, collaboration on the podcast medium depends entirely on the project at hand and the client’s requirements,” he added.

Soni of IPLIX Media elaborated that traditional brands, such as Woodland, are sponsoring podcasts like ‘Unfiltered by Samdish’ because they see the opportunity to align their brand with authentic content that appeals to their target audience.

“Similarly, brands like Mountain Dew sponsoring podcasts featuring influencers like Ranbeer Alabhadia are capitalising on the authentic and raw conversations that podcasts facilitate. These podcasts attract the right set of audience for the brands, as listeners are drawn to the genuine discussions and perspectives shared by the hosts,” he added.

Growth trajectory

According to Gawde of Schbang, the current growth trajectory for brands leveraging podcasts for infotainment and educational purposes is undeniably promising. As the podcasting scene matures, opportunities for cross-promotion and collaboration among noted podcasters are set to flourish, mirroring trends observed in the more mature US podcast economy.

“Looking ahead to 2024, we anticipate a proliferation of niche categories within the podcasting landscape, catering to diverse interests such as beauty, entertainment, fashion, food and more. These specialised categories will provide platforms for influencers and opinion leaders to share unique insights and perspectives, further enriching the podcasting experience for listeners,” he added.

Soni of IPLIX Media said that we can expect even more significant opportunities for brands in the podcasting space. With advancements in technology and the proliferation of smart devices, podcasts are expected to reach an even broader audience base.

“Moreover, as brands continue to refine their content strategies and partnerships with podcast creators, we can anticipate more tailored and impactful podcast campaigns. Additionally, the integration of interactive elements and immersive storytelling techniques will further enhance the listener experience, providing brands with new avenues to engage with their audiences,” he added.

On the other hand, Sinha of Alchemist Brand Consulting said, "Despite India being a large market in absolute terms, the medium has barely scratched the surface and is still very much in the embryonic stage of its lifecycle. While I do not have figures to correlate the success of brands with the use of podcasts, I do expect significant uptake by more and more brands in 2024.”

Thiagarajan of aawaz.com said, "Looking at the growth of the whole category, and the fact that top brands are carving out a podcast budget in their marketing plan shows there's considerable potential. 2024 can be a pivotal year where podcasts get as big as influencer marketing.”

Similarly, Shah of OML believes that with the increase in the use of smartphones and internet penetration, access to podcasts will only increase. This in turn offers the podcasting market, already a burgeoning industry, a boost to grow further.

“The podcast market is touted to grow by 6.38% between 2023 to 2027, resulting in a significant increase. We can expect to see the audio market explore regional content along with experimentation in subjects, genres and platforms,” he added.