The audioindustry, in particular the podcast industry, is healthy and growing, Daniel Karlsson, Vice President of Market Development & Global Strategy at Triton Digital, said today in his keynote address at Dubai PodFest 2022, the region’s largest annual gathering of podcasters organised by the Dubai Press Club.

Held under the patronage of His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Media Council, the second edition of Dubai PodFest brought together stakeholders across the sector to share strategies, ideas and solutions for accelerating the growth of the Arab world’s podcasting sector.

“Covid was a horrible time,but it impacted the audio industry positively. Podcasting saw robust growth during the pandemic. We measure podcasting across all continents. It is mind-blowing to see how the numbers are increasing, including here in the Arab world,” said Karlsson.

Triton Digital operates in over 80 countries, powering the global online audio industry with Webcast Metrics, a streaming audio measurement service, and Podcast Metrics, an IAB-certified podcast measurement service.A report by Insider Intelligence predicts that, by the end of 2022, there will be more than 424 million podcast listeners worldwide, which will grow to 504.9 million by the end of 2024.

“Good times lie ahead for the region’s podcasters,” Karlsson reckoned, adding that this was based not just on global data but also backed by regional and local stats. Karlsson cited a recent study by Next Broadcast Media that shows podcast advertising in the UAE and Saudi Arabia is booming. “The findings revealed that the profile of podcast audience in these countries is exceptionally advertiser-friendly,” he said. “Affluent, millennial/Gens X and Z… basically what the advertisers are really interested in,” he said.

“This isn’t just a growing audience but also an exciting audience from the demand-side industry’s perspective. These trends reinforce the bullishness in podcasting’s potential growth in the region. As an industry, it is nowhere near peaking. It is still early days and great times lie ahead,” he said.

Karlsson has over 20 years of experience in the field and leads the sales team of Triton Digital’s audio advertising technology, podcast and streaming services, and audience measurement solutions across Europe, Middle East, and North African regions.

Globally, podcast ad revenue is predicted to double from more than $1 billion in 2021 to about $2 billion in 2022, according to Triton Digital. Locally and regionally, the market is much smaller, but the smaller base allows it to grow faster, offeringan unparalleled growth opportunity for Arab podcasters.

Karlsson had a word of advice for the region’s podcasters looking for advertising for their offerings. “When you launch a podcast, you typically—and rightly—focus on creating great content. However, in addition to content, if you are a for-profit business or want to make money out of your podcasts, I’d suggest you have a proactive approach to monetising.”

He also suggests taking a leaf out of the international market’s playbook and introducing an industry rankerfor the regional market. “An industry ranker is an objective source that ranks the top 300 or 500 podcasts in the region monthly. It’ll help advertisers see the size of the demand and be able to view the industryas a whole in terms of the millions of downloads, which may be compared with other platforms such as TV or broadcast radio,” he said.

“One of the biggest challenges within podcasting is discoverability—how you promote your podcasts is among the most pressing challenges. Appearing on the first page of Google or Spotify is not easy. I would suggest that, as an industry, consider your peer podcasters as partners and not as competitors. You are fighting against TikTok and other platforms—not other podcasters—for the advertising dollar. Use cross-promotional tools, exchanges with other podcasters to promote your podcast and vice-versa to grow your audience,” he said.

Triton Digital is a leading technology and service provider to the global digital audio, podcast, and broadcast radio industries.

Featuring prominent podcasters, audio content creators and leading organisations in the industry, the one-day Dubai PodFest 2022 discussed the future of podcasting and new approaches for developing audio content into a compelling and financially sustainable product.

The event also examined fresh strategies to accelerate the growth of podcasting in the region and the role of media organisations in supporting the industry’s development in line with Dubai’s vision to be a leader in adopting new technologies and its efforts to consolidate its position as a city of the future and a focal point for digital media development. The event reinforced the city’s position as a key market for podcasting and audio content production in the Arab world.