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Let us take our chances and say that you are tempted to skip reading this entire article, apart from the key pointers. But imagine this — how about an audio broadcast version of this, which you can listen to while multitasking with whatever you are doing at the moment. That’s essentially what a podcast is, and convenience is just one of the reasons behind its surging popularity.
The rise in popularity of podcasts in recent times
In December 2020, Amazon announced its acquisition of Wondery, a podcasting company. The popular audio firm Spotify has also been acquiring multiple podcast start-ups over the past two years. Ximalaya FM, a Chinese podcasting platform, has earned unicorn status. This shopping spree by industry giants is a strong indicator of just how big podcasts are set to become globally. India too saw growth in podcast listeners with a 42 percent increase of users on audio streaming platforms in March 2020.
Germin8 share trends forecasted for podcasts in 2021:
* The Continued rise of live streaming
Live to broadcast of interviews, debates, and podcasting events saw growth over the past few years and particularly in 2020, given the Covid-19 scenario. Podcasting events grew in popularity as virtual attendance became the new normal, and the prediction is that such live streams will continue to be popular in 2021. Podcast events not only bring hosts, audiences, marketers together but is also scope for revenue earning as platforms can go on to charge admission entry for listeners.
* Growth in podcast ad revenue
Talking about revenue, 2021 will see an increase in earnings for brands since podcasting offers a low-cost yet effective method of advertising. The Guardian’s Podcast Insights 2020 found that audiences not only listen carefully to ads during podcasts but are also more likely to search for the product being advertised or recommend it to people they know. The WARC Global Ad Trends report of 2019 estimates that podcast advertising will be worth $1.6 billion by 2022. Marketers ready to invest so much in podcast ads only speak volumes about the expected ad revenues.
* New and independent entrants into podcasting
The dynamic nature of podcasting makes it easier for new talent to enter the space, and 2021 is expected to witness more new and independent entrants launching podcasts. At the same time, big industry names like Facebook are also adding audio content to their platforms. Moreover, with people spending more time at home, the demand for innovative and diverse content has opened up podcasting opportunities for independent artists.
* Newer strategies for monetizing podcasts
Podcast makers and platforms this year will be looking for new avenues to cash in on the demand and monetize podcasts beyond the usual advertising. Luminary has a subscription model similar to Netflix via Apple Podcasts Subscriptions to access audio content. Platforms also use podcasts to drive audiences to their other businesses, such as an audio call to action to visit their website or buy an online newspaper subscription. Podcast uses a model in which they connect brands to relevant podcasters for placing ads, a brilliant strategy that helps all podcasters earn money.
* Increase in competition among podcast platforms
It is no surprise that the competition among the various platforms is all set to heat up this year. Brands are using social listening to identify demands and offer endless options to listeners, with genres ranging from pop culture and comedy to true crime. Apple and Spotify have been two of the biggest podcast platforms, and now other players are putting in a good fight for their share of the industry. Recently, Spotify announced a host of new podcast originals targeted at the Indian audience. Other apps are offering innovative content, exclusives with celebrities, and audio options in various languages — all to the benefit of listeners.
* More variety in listeners
Along with the diversity in podcast content, the listener demographic is also expanding and 2021 is likely to see a continuation of this trend. From young teens to parents and audiences across genders, ethnicity, age groups, and occupation, podcast listenership is truly engaged in the content available today. In fact, recent data from Nielsen shows that there is more diversity in podcast audiences than in the actual population of the US.
According to a 2020 report by FICCI-EY, 47 percent of all internet users in India in the age group of 16-64 years listen to podcasts. While podcasting is currently a frequently changing space, with such recent statistics, one thing seems sure — audio will continue to be big in 2021. (IANS/SP)
Diwali is known for gifting and jewellery tops the list, with the focus on buying gold and diamonds. ORRA jewellery, a trusted diamond jewellery brand is gearing up for the festive and bridal season. As they open their 50th store in the country, IANSlife caught up with Dipu Mehta, Managing Director, ORRA, to find out how the company plans to ramp up its now 50 company-owned and operated stores, expanding its retail presence in Tier-1 and 2 cities and target the millennial segment.
Q: The brand is expanding in tier-2 and tier-3 cities, is brick and mortar the way forward to create a presence in this segment?
A: ORRA currently is expanding in metros plus tier-2 cities. But we aren't opening stores in any new markets. We are only opening in markets where we are already present. We are increasing the number of stores within cities as the demand for jewellery buying has also increased. Currently, we are present in 25 cities with 50 stores, and by the end of the month, we would be launching another seven stores.
Also with a category like jewellery, it is important to have brick and mortar stores as the customers like to see and hold higher value jewellery before purchasing. Jewellery buying is an important decision to the customers and having a store gives them that assurance.
ORRA currently is expanding in metros plus tier-2 cities. | Wikimedia Commons
Q: Jewellery is recession-proof do you agree and why?
A: Jewellery buying in India has always been an emotional and occasion-led purchase. It is also considered a great investment. The pandemic has affected all industries and the purchase pattern of consumers has slowed down. We wouldn't call it recession-proof but due to the festive season coming up, we predict a good season for all retailers.
Jewellery buying in India has always been an emotional and occasion led purchase. | Photo by Joeyy Lee on Unsplash
Q: The small Indian wedding doesn't mean that jewellery gets minimal, it just means people are investing more in jewellery. Please elaborate on how the brand's consumer behaviour has shifted in this regard.
A: Weddings in the family has always been a strong motivator for bridal jewellery purchase. It doesn't matter if the wedding is on a large scale or small scale, the kind of jewellery worn has been large. The only difference we see now is due to the pandemic and the limited number of guests at weddings the families are spending more money than before on buying diamond jewellery. We have seen the customers upgrade to higher-value diamond necklaces than ever before.
Weddings in the family has always been a strong motivator for bridal jewellery purchase. | Photo by Aayush(gop) Rawat on Unsplash
Q: The brand is the only one to offer 0 per cent interest EMI on diamond jewellery. Please share the idea behind this and what is the impact it has had on sales?
A: The idea came from the insight that during a wedding in the family, the father of the bride is always the most worried about all the wedding expenses. At ORRA, we understand this and decided to offer 0 per cent interest EMI.
We are the only brand offering 0 per cent interest EMI on diamond jewellery and we have seen a great response from customers. Offering this has led a lot of customers to upgrade the jewellery and purchase larger pieces. We are seeing a growing trend of customers who prefer buying jewellery on EMI and to pay it in equal monthly installments instead of paying the whole amount in one go.
OORA is the only brand offering 0 per cent interest EMI on diamond jewellery and they have seen a great response from customers. | Needpix
Q: The millennial and Gen Z as a segment, how important are they to you and are you doing any digital marketing for this audience?
A: The millennial and Gen z customers are extremely important to us and we launched our 'Desired Collection' specially to target this age group and style. This generation has a distinct style and makes their own decisions, they are tech savvy and are comfortable making jewellery purchases on our e-commerce website. They love a good deal along with great designs and quality products. Our customers are extremely engaged with us on our social media handles and we ensure that we respond to all their product-related queries within a day. We also have live chat and video calling facility which helps them make a decision.
OORA's customers are extremely engaged with them on our social media handles and they ensure that they respond to all their product-related queries within a day. | Photo by Campaign Creators on Unsplash
Q: Lastly what are the trends you predict for 2021 and 2022?
A: We see an upward trend this season and in the coming few months. We see an increase in demand in diamond jewellery purchases and with the help of 0 percent interest EMI we can see more and more customers buying larger pieces of diamond jewellery. (IANS/ MBI)
Keywords: diamond jewellery purchase, Diwali is known for gifting and jewelry, festive and bridal season,
The Centre on Wednesday directed all Union Ministries and Departments to clear Air India's dues immediately. An office memorandum from the Finance Ministry's Department of Expenditure said: "Recently, the Government of India has decided to disinvest Air India, and the process of disinvestment of Air India and Air India Express is ongoing.""Air India has stopped extending credit facilities on account of purchase of air tickets. Therefore, all Ministries or Departments are directed to clear Air India's dues immediately." "Air tickets from Air India may be purchased in cash till further instructions."
In 2009, the Centre had mandated that Central government officers travel via Air India for all official purposes including availing of LTC. On Monday, conglomerate Tata Group entered into a share purchase agreement with the Central government for buying out the latter's stake in national carrier Air India, Air India Express, and AISATS.
Earlier, a Letter of Intent was issued to the Tata Group. After the SPA, Tata Group would need to fulfill the conditions precedent in the agreement before taking over the airline. The rest of the transaction is expected to be completed by December.
Tata Sons' subsidiary Talace emerged as the highest bidder for the national carrier under the divestment process. Talace had quoted an enterprise value of Rs 18,000 crore for 100 per cent equity shareholding of the Centre in Air India along with that of Air India Express and AISATS. (IANS/ MBI)
Keywords: India, air India, ministers, government, purchase, dues, Tata group, centre
Sports betting has been around for centuries for the audience to not only watch the sport but to get more deeply involved in the match. It is a fun and often profitable activity for the viewer to win some extra fortune or simply get some extra sweat while watching the game. At first glance, sports betting may look like it's pure luck, but when you indulge deeper into the activity you realize it is more of a calculative and research activity than just pure luck. We must note that yes, luck does play a certain role to some extend but a win is not completely dependent on luck, if you're putting your bets on a certain team you have to make sure to do some research about the players on the team, history of wins and losses of the team and compare the probability of winning and then place bets.
Even though sports betting has existed since the ancient era, it was not until recently that it became increasingly popular among the youth. This happened due to the legalization of the activity and the rise of online sports betting. The technological revolution has expanded the sports betting industry, offering the bettors new markets and ways to bet. The only major difference between online bookmarkers and traditional brick-and-mortar venues of sports betting is that now you can place bets online from your mobile devices, laptops, computers etc.
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Online sports betting allows the sports enthusiastic bettors to place their sports bet online from wherever they are on real-life happening sports events. For instance, if there is a match between Chelsea F.C. and Machester United in the English Premier League, you can place wagers on either of the team to win from your comfort space, on your device and if you correctly predict the outcome, you'll win money.
How to Bet on Sports?
Sport betting gives more thrill and involvement in the sport to the bettor.Istockphoto
Now that you understand the basic mechanism of sports betting, how and where should you place your bets? For new bettors, sports betting can be a little intimidating because you're putting real money as stakes and no one wants to lose it. Here are the steps to place your sports bets online:
Choose a betting site: The first step to placing your sports bets is to find a reliable sports betting site. BetRivers sportsbook is one of the most popular sports betting sites in the US which also has a mobile app. It has a solid design with intuitive navigation, user friendly and polished layout.
Sign up: After choosing the website, you must sign up and provide simple details like your name, email address, age etc. to verify your proof of identity and if you're legally allowed to start betting in the state or not.
Deposit money in your online sportsbook: Once you've registered an account, you can immediately deposit some money and place your bets on the sport of your choice. Most online sports betting platforms accept numerous deposit methods. BetRivers accepts various methods like online banking, Paypal, Visa, Mastercard, pay+, etc; and withdrawing money is as simple as depositing the amount.
ALSO READ: The Growth of The Sports Betting Market
Locate the market: Before placing your first bet, pinpoint the sports you want to place bets on, then select specific competitions or leagues that interests you the most. Then you need to find a team you want to bet on. Do some research on the odds and market. Once you've made up your mind you can bet your money on your prediction.
Place your first bet: Once you're certain about your bet, you're required to enter the amount you want to bet. Most sites give you a preview of how much a bettor stands to win in the bet slip. If you're satisfied with the odds, you can happily hit the button to confirm your bet and wait for the results.
Enjoy the game: The bet has been placed, the game has started, now all you need to do is sit back, relax and watch the game and let your bet come in.
Disclaimer: (This article is sponsored and includes some commercial links)