83% of Americans aged twelve and older are familiar with podcasts, while 120 million Americans listen monthly and 89 million listen weekly.
Podcasts: Transcribed On-Demand Digital Radio
If a podcast is a modernized adaptation of a radio broadcast, we need to examine radio history alongside its more recent outgrowth to get a proper understanding of the landscape. While it’s possible the audio industry won’t return to its golden years in a world that includes cable television, Over the Top streaming, and online video technology, it’s still important to acknowledge the possibilities of the medium.
There were four major radio networks in existence on December 15th, 1941: NBC Red, NBC Blue, CBS, and the Mutual Broadcasting System. On that night, all four networks simulcast an hour-long program commemorating the 150th anniversary of the Bill of Rights. Called We Hold These Truths, it was written and directed by Norman Corwin. On that evening the U.S. population totaled 133.4 million.
The Crossley Ratings Service estimated that 63 million people tuned in: It was the largest audience in history for a scripted dramatic radio performance.
In comparison, the first TV Super Bowl broadcast to surpass that number of raw viewers was Super Bowl XII in 1978, except that by 1978 there were 222 million Americans.
By December of 1948, total national radio revenue was $561.6 Million ($7.01 Billion in 2023 dollars) and the major radio networks (NBC Blue had been divested, becoming ABC) were reporting a total combined revenue of $210.6 Million ($2.628 Billion in 2023 dollars). At the time, there were fifteen programs with ratings of twenty points or higher: Radio’s highest-rated scripted dramatic show, The Lux Radio Theatre, had a rating of 31.2, with roughly 28 million weekly listeners. The networks used their soaring radio revenue to launch into the television era.
While TV soon stripped radio of its dramatic programming, audience, and revenue, there is major precedent for the popularity of scripted dramatic audio programming. Traditional broadcast radio still reaches 92% of Americans (5% higher than television and 11% higher than smartphones), and more than 245 million Americans listen to broadcast AM/FM radio each month. Satellite radio has long been attracting listeners as well. SiriusXM reported nearly 34.65 Million subscribers and $2.06 Billion in revenue as of January 2021.
Current Industry Landscape: So What’s Scripted Audio Fiction?
Simply put: Burning Gotham is a scripted audio fiction series. During the Golden Age of Radio this would have been referred to as a “radio drama.” It has since also been known as “audio drama,” and “audio theater.” These terms encompass all genres of scripted audio, be it comedy, drama, soap opera, western, detective, mystery, or high adventure.
While most dramatic radio productions were canceled or migrated to TV in the 1950s, there were network revivals. These include ABC’s Theatre-Five (1964-65), The Zero Hour (1973-74), The Sears/Mutual Radio Theater (1979-80), The CBS Radio Mystery Theater (1974-82), and the dramatic productions by NPR. Now in the 21st century, the introduction of digital technology has made production of scripted audio fiction independent of AM/FM radio possible.
The past decade has seen a resurgence of scripted audio fiction in podcast form. Moreover, the podcasting industry is rapidly growing within the broadcasting market. The Edison Research Infinite Dial states that, as of March 2023: 83% of Americans aged twelve or older are familiar with podcasts, while 120 million Americans listen monthly and 89 million listen weekly.
Those figures are up 5% and 7% from March of 2020. In 2022, U.S. weekly podcast listeners averaged nine podcasts consumed per week. 70% of Americans consume online audio in some form on a weekly basis and 100 million Americans have listened to an audiobook in the past year.
Since 2018, monthly podcast listenership amongst 12-34 year-olds has risen from 34% to 50%, amongst 35-54 year-olds from 29% to 43%, and amongst 55+ year olds from 13% to 22%.
Non-white listeners now take up 41% of total listeners, up from 32% in 2011. Female listeners are up to 46% of all listeners. The medium now reflects the diversity breakdown of the U.S. population. Meanwhile, as of June 2022 46% of Irish people, 36% of Canadians, 33% of Australians, and 25% of people in the U.K. are currently monthly podcast listeners.
While initially dominated by independent creators, the broadcasting industry is "ready for prime time," as large-scale content distributors have entered the field. In 2016 Gimlet Media launched Homecoming, which has since become an Amazon-distributed video series starring Julia Roberts. Beginning in 2017, Marvel partnered with Stitcher to launch an original Wolverine podcast series called The Long Night, and a second season called The Long Trail. In June of 2020 Warner Brothers and Spotify announced an exclusive partnership to create original scripted audio fiction using DC superheroes, while Cadence 13 (part of Audacy) has begun to release “Movies For Your Ears.” These high-profile productions have, in turn, given more publicity to more independent creators producing high-end scripted audio fiction, like Airship Productions’ 1865, as well as curators, like Radio Drama Revival. This activity is proof that rising tides buoy all ships.
As of January 2023, there are twenty podcast publishers with a unique monthly audience of 2.2 million listeners or more, and thirteen podcast publishers with more than 30 million monthly global downloads and streams.
Large audio/streaming production/distribution hubs are jumping into podcasting. Since early 2019, Spotify has bought Gimlet Media, Parcast, Anchor, The Ringer, and Megaphone; iHeartMedia has bought Stuff Media and Voxnest; SiriusXM has bought Stitcher and Simplecast; and Entercom (now Audacy) has purchased Pineapple Street and Cadence13. In December of 2020, Amazon announced that they’d acquired Wondery for at least $300M.
The past five years also saw a sharp expansion in the number of content deals doled out by Spotify, iHeartMedia, and Amazon’s Audible. Some of these deals were well-recorded, as in the case of Spotify’s high-profile partnerships with Higher Ground, Archewell Audio, and Joe Rogan. But also worth noting are the many more deals forged with a generation of newer talent and production companies, a good proportion of which went unannounced.
The large sums of money spent over the last five years can broadly be read as investments of potential and a desire to grow podcasting’s revenue model. Importantly, associated revenue streams are growing along with the industry. Even during the Pandemic, Podcast advertising revenue climbed to $842 million in 2020, up from $708 million in the year prior.
Podcasts reached $1.34 billion in annual revenue in 2021, $1.73 billion in 2022, and are expected to reach $2.2 billion in 2023.
Strengths
Burning Gotham is unique. It has been conceived and developed by people with extensive knowledge of New York history, radio broadcasting history, and audio production. While set in 1835, Burning Gotham is designed to resonate with current events, revealing our interactions with each other within the place we live. These things, as well as human nature, are universal and timeless. Our core team is based in New York City and are comfortable pulling from historic and geographic partnerships that are localized in the area.
Burning Gotham is already in production. The first 8 episodes were produced and released in December 2022. It has been named an official 2022 Tribeca Film Festival Audio Selection. This project currently includes 22 additional fully-written episodes, as well as the story developed for twenty more additional episodes. Minimal coordination is required to push this content to market. As the series is ongoing, the cast and crew will develop continuity, creating better performances and chemistry within.
A local partnership dedicated towards entertaining listeners and teaching them about the history of New York, while simultaneously expanding opportunities for those who are blind or have low vision, would make this production even more unique and positively entrenched within New York’s society.
There is some precedent for this, as people like Maxwell Ivey and the below Tommy Edison, are not only longtime podcast hosts, but help others with low vision to create their own podcasts.
Opportunities
The opportunities for this project are numerous. Importantly, this project is an opportunity to help rebuild a once vibrant scripted dramatic audio industry within New York City, while also teaching those who are blind or have low vision various skills that can help them find long-term employment. This includes, voice acting, script writing, editing, sound design, and engineering In addition, there is the possibility to help build an entire programming wing for an existing media hub.
There is also a strong opportunity for community engagement with additional disability advocacy groups and city agencies—such as The New York City Mayor’s Office for People With Disabilities. We see these partnerships as a way of creating goodwill and for developing long-term community relationships.
The Burning Gotham core team’s involvement with SPERDVAC, NYC Department of Education, The Podcast Academy, The Salmagundi Club, and potentially The Lions Club International, attests to the feasibility of these partnerships.
We have received community goodwill and a desire for partnership from local historians, cultural institutions, and peers. This includes Yhane Smith, creator of the audio drama Harlem Queen, The New York City Fire Museum, The Bowery Boys, The Gilded Gentleman, The Merchant’s House Museum, The Morris-Jumel Mansion, The Lexington Historical Society, establishments that were open in 1835 like Fraunces Tavern, The New York Landmarks Conservancy, Untapped New York, casting director Nancy Foy, Richard Larkin of SAG-AFTRA, as well as Manhattan Borough Historian Dr. Robert Snyder, and historians Annie Haddad, Carol Ward, Daniel Levy and Jeffrey Broxmeyer.
In terms of distribution, we are in the process of developing affiliated branded/themed events such as live audio theater and roundtable discussions on topics of New York City urban and social history.
There is also an opportunity through sponsorship to get companies such as Starbucks or Walmart on board with a project like this that carries so much community goodwill, as well as the opportunity for partnership with SAG-AFTRA to give non-guild members the opportunity to join SAG-AFTRA by paying them enough for their acting services to become guild-eligible.
Audience
Burning Gotham appeals to a cross section of a general audience that is more cohesive in its interests than age. This includes history lovers, New Yorkers, mystery and thriller lovers, audio enthusiasts, audio book fans, and those looking for something new and hip. The Burning Gotham listener is inquisitive and enjoys discovering new entertainment.
The first-season develops relatable characters struggling to find their place within society and establish their own destinies. Burning Gotham is well-researched historical fiction, designed to help redefine American patriotism, cultural identity, and New York City’s legacy. The storyline is likewise jam-packed with action, suspense, sex, and intrigue, which appeals to mass audiences.