NAB Show: Radio's Podcast Strategy Evolves.

Radio broadcasters are discovering that podcasting can do more than extend the reach of their existing programming. It can bring in younger audiences who may never tune in to their radio stations, attract advertisers who might not otherwise buy local radio, and create entirely new businesses that no longer depend on driving listeners back to the broadcast signal.

For Hubbard Radio, that shift is already well underway. The company’s SKOR North podcast network, built around Minnesota sports teams, has become a standalone digital business with an audience that differs from the one served by traditional sports radio.

“We’re just building a digital audience. We’re not trying to get people to listen to the radio station anymore,” Hubbard VP of Digital Strategy Jeremy Sinon said during a podcasting panel at NAB Show New York on Wednesday (Oct. 21). “The podcast network is doing well on its own without that. We don’t need the radio side.”

Sinon said Hubbard’s experience illustrates how podcasting can reach consumers who aren’t necessarily listening to local radio. Its Minnesota Vikings podcast “Purple Daily” — which picked up a Marconi award on Tuesday — now generates 40,000 to 50,000 combined audio and video plays per episode, and the program sometimes releases two or three episodes a day. The audience also skews younger than traditional sports radio, with YouTube and podcast platforms introducing the program to consumers who might never encounter it on the radio dial.

Cumulus Media is seeing similar opportunities in Nashville, although its strategy more directly intertwines podcasting with its existing broadcast brands. Paul Mason, Spoken Word Operations Manager said “The Install,” featuring NFL analyst Greg Cosell, has helped sports “104.5 The Zone” WGFX reach younger audiences while giving existing radio listeners another way to engage with the station.

“People are discovering ‘The Install’ on platforms like YouTube, thus discovering our brands,” Mason said. “They’re really helping each other grow.”

Turning Audiences Into Revenue

Radio’s growing digital audience is opening the door to new advertising products and revenue streams, some familiar to radio and others that go well beyond traditional spot sales.

Hubbard uses a combination of host-read endorsements, dynamically inserted advertising and video sponsorship opportunities. Sinon said baked-in host endorsements are particularly valuable because they reach audiences whether they’re listening through a podcast app or watching on YouTube. The video component also allows advertisers to incorporate product footage and other visuals into endorsements, creating opportunities that audio-only advertising can’t provide.

Bonneville VP of Podcasting Sheryl Worsley also stressed the need to use programmatic advertising, particularly when direct sales can’t fill all available inventory.

But broadcasters are also looking beyond advertising. Bonneville has launched a subscription-based “Insider Club” tied to its investigative podcast “Cold.” Subscribers receive bonus material, ad-free listening, early access to episodes and opportunities to interact with host Dave Cawley. “We’re a month in, but it’s looking pretty positive,” Worsley said.

Cumulus has found another revenue stream through live events built around “The Install.” Mason said its annual post-NFL-draft event features Cosell and co-host Buck Rising breaking down Tennessee Titans draft selections, with participation from the team’s general manager. The ticketed event sells out quickly and attracts sponsors.

Yet traditional ads remain the biggest revenue source. But since podcasts reach beyond a market, Sinon said Hubbard has discovered that sports series are particularly attractive because they can generate advertising from both local businesses and national agencies. “It’s a great double dip that you can monetize on both ends of it,” he said.

YouTube Trade-Off

During the NAB discussion, moderated by ART19/Amazon Ads Head of Partnerships and Strategy Andy Slater, panelists agreed that YouTube has become too important to ignore. Its ability to introduce programming to new listeners and viewers is changing how broadcasters develop, distribute and promote their podcasts.

Radio’s existing promotional reach remains another advantage in building podcast audiences. Worsley said Bonneville promotes its shows across its radio and television stations, while also encouraging hosts to make guest appearances on other podcasts, regardless of their audience size. “People who listen to podcasts listen to other podcasts,” she said, making those appearances an effective way to introduce programming to new listeners.

Sinon said Hubbard similarly uses its radio stations and podcast network for cross-promotion but believes guest appearances can deliver even greater results. “Promos are the lowest hanging fruit. That’s the easiest thing you can do,” he said.

Tomorrow: Why podcast executives say YouTube has become indispensable for radio.