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Future of audio in digital media

Audio-based content tends to have the biggest “real estate” of attention. Unlike watching a YouTube video or reading an article that requires active engagement—you can listen to Spotify while working out, play an audiobook while driving, or join a conversation on Clubhouse while walking down the street.

In this post, we will examine companies that transform the way we interact with digital media through audio. I’ll exclude music-focused companies because they deserve a separate study. If you want to start something in the online media space, keep on reading—we will unlock exciting opportunities!

1. Key trends

(1) Spotify is investing heavily in audio:

• acquired podcast measurement and analytics cos Podsights and Chartable.
• acquired Locker Room (now known as Spotify Greenroom) where users can join live audio rooms, listen to and talk music, sports, and culture.
• acquired Findaway, a digital audiobook distributor
• partnered with Storytel where Storytel subscribers can access their audiobooks within Spotify’s app
• acquired Gimlet and Anchor for $340M

(2) Audio-based platforms are becoming the target for acquisitions:

• Non-audio-focused companies acquire podcasting services.
• Amazon Music acquired Art19, a podcast hosting plus monetization platform.
• Medium has acquired Knowable, a platform that lets you learn from podcast-like courses featuring top experts.

(3) Workplace conversations are going audio:

• Not every conversation needs to be on Zoom video calls. Companies are bringing audio calls to the remote workplace.
• Slack launched Slack Huddles, an audio-first way to communicating in Slack. Instead of typing out in DMs, you can invite specific people to join, and share your screen to work side-by-side with your team.
• Yac is an asynchronous voice messaging for remote teams.