Nigerian listeners are diving into podcasts, seeking not only entertainment but also insightful political, motivational, and religious discussions.
Every week, it’s common to see podcast cuts circulating on social media, – for one reason or the other – reflecting the medium’s growing influence. Podcasts have emerged as one of the fastest-growing, most democratized platforms for individuals to dish thoughts and ideologies on various subjects of interest. They offer a space for independent voices, diverse perspectives, and niche content that mainstream corporate media would not outrightly buy.
Since the pandemic, podcasting has become one of the fastest-growing digital sectors. The global podcast industry is now reportedly valued at around $25 billion. On the global stage, podcasters like Joe Rogan have secured multi-million dollar deals with major platforms. Given this mainstream reception, many podcasters have turned to creator monetization platforms like Patreon to convert their audience and influence into lucrative opportunities.
In 2023, the 40,000+ podcasters on Patreon generated $350 million on the platform, making podcasting its second-largest content category, just behind video creators.
The platform stated
“People listen to the same show every week at the same exact time, bake it into their schedules, even plan their days around it. Those are the real fans, and those are the ones who are on Patreon,”
Patreon attributes the success of podcasters on its platform to their entrepreneurial spirit. According to the company, podcasters are “CEOs of their own companies, responsible for figuring out how to reach, grow, and energize their communities.” Initially, Patreon only allowed creators to monetize through monthly subscriptions, offering perks like bonus episodes and behind-the-scenes content. However, last year, the platform expanded to let creators run digital storefronts, providing even more revenue opportunities.
An example of this success is Shannon Beveridge, who uses Patreon to sell products tied to her podcast, such as IRL photo ops, digital galleries, and recordings of live appearances. If Patreon’s perspective is accurate, podcasters are indeed one of its most powerful content categories.
Podcasting in Nigeria
Even Spotify has noted the increasing popularity of podcasts among younger generations in Nigeria, as they move beyond traditional media channels. Nigerian listeners are diving into podcasts, seeking not only entertainment but also insightful political, motivational, and religious discussions.
Spotify Wrapped 2023 highlighted the top five most-streamed podcasts in Nigeria, including three podcasts by Apostle Joshua Selman, The HonestBunch, and I Said What I Said. According to Spotify’s Managing Director, Jocelyne Muhutu-Remy, Christian podcast streams on Spotify in Nigeria have grown by 482% since 2022.
‘Non-traditional’ creators are also embracing podcasts to connect with their audiences and explore new ways to share their stories and brand narratives. For instance, Joeboy used a podcast to discuss the creative process behind his last album at the time of release, inviting producers and collaborators of the project to join the conversation.
With the growing influence of podcasts globally and their rising popularity in Nigeria, there’s potential for podcast creators in Africa to tap into this trend of ancillary earning opportunities.
Source: The Jollof Diary
