Amazon never figured out its podcast platform strategy

PLUS: ESPN recognizes the power of the Creator Economy.

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Amazon never figured out its podcast platform strategy

From Bloomberg:

Amazon.com Inc. is breaking up the operations of its Wondery podcast network as part of a broad reorganization of the business.

About 110 people will lose their jobs because of the move, according to a person familiar with the plans. In addition, Wondery Chief Executive Officer Jen Sargent will exit the company, according to a memo to staff viewed by Bloomberg News. Existing Wondery series will either be moved under Amazon’s Audible banner or become part of the company’s new “creator services” team, which will become home to personality-driven shows, including Jason and Travis Kelce’s podcast. The Wondery brand will still exist on some of these creator services-run shows.

I think the biggest problem ailing Amazon's podcast efforts is its fragmented platform strategy. Both Amazon Music and Audible had their own dedicated podcast teams that competed for talent and IP, and as a result both apps never became more than a rounding error in podcast market share. On top of that, Wondery has its own dedicated app for premium subscribers.

Sure, Wondery shows are distributed on all podcast players, but the RPMs on outside apps are likely paltry compared to what Amazon could have generated on its owned and operated apps. Most Spotify-owned shows are also distributed across all podcast apps, but my guess is that the vast majority of their revenue is generated on Spotify itself, where it can best leverage the listening data and also drive synergies across its other products. There are probably a lot of people who subscribe to Spotify for their music listening simply because that's the app they use to listen to podcasts. Nobody can say the same for Amazon Music.

(BTW, I used a gift link so you can access that Bloomberg article for free. If you want to reward me for helping you bypass paywalls, feel free to take out a paid subscription to this newsletter)

Why content marketing is superior to PR

From the Rebooting:

We have a PR team here we have to run everything through. They rarely have new ideas and what they usually do is present a list to us of “top 10 target publications” that I honestly believe comes from them more or less googling around for a few minutes based on whatever the topic is.

What’s worse, they hire a PR agency to actually do much of the execution. And we have that firm on retainer so we are often forced into using them to get through the budgeted money and hours.

I spent several years working in PR for multiple firms and I can confirm that it's a waste of money for most companies. Most of a PR firm's "pitching" consists of downloading a list from some database and then mass-spamming a bunch of journalists, many of whom don't even cover your industry. When a PR person touts their "relationships" with specific journalists, all that means is they once successfully pitched a journalist on a story, not that they're besties who regularly grab drinks. Even in cases where they do land you a placement, it's rarely worth the price you paid for the monthly retainer.

Many PR firms will charge you anywhere from $10,000 to $50,000 a month. You'd get much more ROI by simply hiring professional content creators who produce podcasts, articles, videos, and social media posts that provide real value to your potential customer base. This not only will help you own your audience, but it also increases the chances that a journalist from a legacy publisher will reach out to interview you as an expert. In terms of ROI, content marketing is so much better than PR.

Want to pick my brain on your content strategy?

At this point I’ve probably interviewed over 1,000 media entrepreneurs about how they built their businesses.

I also spent over a decade consulting with organizations ranging from small nonprofits to Fortune 100 companies on their content strategies.

For this reason I get a fair number of people who reach out to me to see if I offer consulting calls so they can ask me questions related to their own content strategies.

Currently, there are three options for booking consulting calls with me:

Become a paid subscriber to my newsletter: When you subscribe, you automatically receive an email with a Calendly link that allows you to book a half-hour introductory call with me. Many of my subscribers use these calls to ask me questions related to their own businesses. Use this link and get 20% off for your first year:

Book an hour-long consulting call: This is a good option if you want to have a more in-depth discussion about your strategy. [Book a call on my Calendly]

Book a series of calls: Sometimes people want to book multiple calls with me. I can offer a significant discount for three or more calls. Reach out to me for details.

From TikTok to ESPN, Katie Feeney is the future of sports media

From the Washington Post

[Social media influencer Katie Feeney] starts this week at ESPN, which hired her to appear across its social channels and on linear TV. She’ll host “SportsCenter on Snapchat” and travel with the crews from “Monday Night Football” and “College GameDay.” On the red carpet, ESPN head of content Burke Magnus found Feeney: “We want to put you on the rocket ship,” he said.

ESPN is certainly leading the way in terms of pulling outside creator talent into its official channels; its broadcast deal with Pat McAfee was a kind of watershed moment in that regard. I started predicting these sorts of collaborations a few years ago and now they're becoming more common. Probably in the next five years or so, nearly every legacy media company will be operating as a kind of talent spotter that's consistently recruiting independent creators and either partnering with them or hiring them inhouse. It used to be that the best way to get a job at a national broadcast or print outlet was to start at a local one and then work your way up. Now, college grads are better off just launching their own independent media channels.

(BTW, I used a gift link so you can access that Washington Post article for free. If you want to reward me for helping you bypass paywalls, feel free to take out a paid subscription to this newsletter)

SEO Is Dead. Say Hello to GEO

Much has been written about the "traffic apocalypse" publishers are experiencing as chatbots replace old-fashioned search, but there's another industry that's been significantly impacted by this trend: SEO, which generates over $75 billion a year. Many SEO consultants are now telling potential clients they're proficient in GEO, an emerging field that claims it can get brands more prominent placement in chatbot answers. Given the SEO industry's penchant for bullshittery, we should probably assume that many of these GEO services are nothing more than snake oil. [New York]

ICYMI: How Man of Many grew into the largest men's lifestyle media outlet in Australia

Frank Arthur and Scott Purcell realized early on that content consistency was paramount.

Capitalists Love This Podcast. So Do Their Critics.

The wonky Bloomberg podcast Odd Lots has developed a sort of cult following among economics and finance enthusiasts. It's grown from 1.5 million monthly downloads a year ago to 2.5 million now. I'm a semi-regular listener, and even though I don't really understand half the stuff they talk about, it does have a sort of folksy charm. Its hosts Joe Weisenthal and Tracy Alloway don't take themselves too seriously and just come off as genuinely curious. [NYT]

(BTW, I used a gift link so you can access that New York Times article for free. If you want to reward me for helping you bypass paywalls, feel free to take out a paid subscription to this newsletter)

The Guardian profiles Wall Street Journal EIC Emma Tucker

The Wall Street Journal has always been a good newspaper, but I think Emma Tucker's made it better by making it more punchy and conversational — likely a reflection of her work in British tabloids. What makes her accomplishments especially notable is that she managed to win back the newsroom after enacting some pretty brutal layoffs early in her tenure. Will Lewis, who's pretty much lost the entire newsroom at the Washington Post, is probably jealous. [The Guardian]

My other newsletter: The best longform journalism we consumed this week

The ‘Troublemaker’ Behind Netflix’s Biggest Gamble

For years, Netflix avoided broadcasting any live programming, viewing it as not enough of a value-add to justify the huge expense and technological complications of maintaining a live feed. But now that the company has incorporated advertising into its business model, it's on the hunt for huge spectacle events it can license, and it may be only a matter of time before it signs a season-long broadcasting deal with a major sports league. [NYT]

(BTW, I used a gift link so you can access that New York Times article for free. If you want to reward me for helping you bypass paywalls, feel free to take out a paid subscription to this newsletter)

Is It Still Disney Magic if It’s AI?

For the live-action Moana film, Disney spent millions of dollars negotiating and creating a deepfake version of The Rock, only to scrap it from the final film. The incident highlights how Hollywood studios are struggling with the questions of when to deploy AI and whether it risks undermining their efforts to protect IP. [WSJ]

(BTW, I used a gift link so you can access that Wall Street Journal article for free. If you want to reward me for helping you bypass paywalls, feel free to take out a paid subscription to this newsletter)

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