 it's the network another interesting article that we've read recently uh is about the headline is our podcast threatening the growth of the music industry this is a Rolling Stone article and obviously it's a very strong opinionative statement um it certainly caught my attention because I wasn't it's not something I've ever really thought about because yeah I feel like it's a complete different area even though we're talking about audio I know Spotify is very heavily invested but also the headline is a bit misleading because the market shares only were only flipped by like five percent since 2014 so it's gone from gone down from uh it was 20 percent before and now music share music shares gone down to 76 percent so that's a five percent decrease for music in favor and a 20 percent gain for podcasts so five percent decrease in music and 20 percent gain for podcasts in terms of market share yeah that's that's not too much I don't think it's just too it's not really too much to shout about I don't think like obviously podcasts have been getting increasingly popular in the last five years yeah I mean you see that in stats all the time something could be the fastest growing but it's still a very low percent but just the perception of that general statement can make it seem larger than it is but I think there's a lot of merit that statement if not for now but what could possibly be looked at in the future only because if you look at some of the information I think they might have actually quoted Daniel Eck but if they if they didn't quote him the the founder it was somebody who said it in within the company just citing the fact that spot podcasts were fixed cost and we know the issues that it comes with dealing with record labels right yes there's more music and yes to the entertainment value and just the looping in the debt form of entertainment it brings a larger market in its own way for sure but at the same time having to do with variable cost especially for a company that is always searching for profitability and wasn't profitable for years technically are they even profitable now I can't remember just about yeah about yeah yeah like so like when you're talking about as a business and then you look at the fact that there actually are new competition that actually are formidable finally when we look at somebody like tiktok like the things that tiktok is doing is a is a legitimate threat right now I'm saying that they're going to take over tomorrow but they are a very legitimate threat and just innovation wise because of the because of the lack of politics and the things they and the way they came into the game they were able to innovate way far past what Spotify has done for a good period because Spotify has had so much market share so to hedge some of that bet and say hey yeah we're number one in music right now specifically when we think about streaming only platforms which now like at one point that won't really matter streaming only platform no because we're looking at bundles and everything being bundled together so that's less relevant at some point you have to think about the fact that if we can improve our profitability by focusing on podcasts and we know that tiktok doesn't want to look at podcast right that's too far outside of the circle of competence and where their focus is so it allows us to hedge our bet in that way so I think there's a lot of credence to why we would look at um podcast from a Spotify standpoint again one just summarizing as fixed costs and the profitability that could come from that and two just fighting off the uh posing threats because they're also reporting the uh it's a trend that's happening across all ages for podcasts especially like in 13 to 34 year olds I said that it was in 2012 it was 88% music consumption 12% listening to podcasts but now it's shifted to 81% and 19% so there's been 7% shift which I guess it is when you when you factor into hours and minutes that's quite a significant jump yeah last seven years that that is yeah you're right because kind of like you said I mean podcasts are are longer generally speaking all right and then two so that's more time that the time might be a lot closer time listening music versus time on a podcast yeah this is a point this would be interesting to see wouldn't it yeah right so then we even think about that from the fixed costs of podcasts maybe getting even deeper and saying hey we not only have this fixed cost but then you get into the the the fact that time is spent more time or maybe an equal amount of time is running ads as well running ads right so the amount of attention is still equal it looks different on the surface oh i'm losing here but at the end of the day you're we're talking about economics not the optics right so so now we are getting into the threat we are yeah yeah like I think that that could be something of course we have to spend time more time looking at that and I would love to keep talking about this and step the dates to this one specifically but yeah podcasts are definitely going to continue growing in my mind just because that radio thing is not it's not something that people don't desire it's just the what's the word I'm looking for the format that is dwindle down right it doesn't it doesn't mean that people don't like listening to talk shows or conversations people love conversations the the most profitable parts of radio are typically those morning shows and it's usually where they put the bigger personalities right and those bigger personalities matter because of the conversations they bring the interests they bring it's almost it's it's built off stars in their own right right yeah that's the most profitable part of radio the rest of it is just I don't even want to say just the most the most profitable part because yeah I'm not super in deep with uh you know radio balance sheets but that's definitely one of the most adored and the highest paid people the highest paid host are those people right for sure so and which indicates profitability though it usually alludes towards so my thing is that means if i'm listening to this morning show more for the morning show the people then the music in the first place if the next generation comes they're not gonna not want to listen to people they they like talking and conversations that they like they're gonna still desire that it's just this medium this medium doesn't make sense to me I don't like having to sit through commercials I don't like not being to listen on demand when I want to consumer behavior has changed but the desire for the product definitely hasn't so I can see podcasts you know growing yeah and bring it to a more micro level for you guys if you're considering like launching your own podcast then I definitely think it would be worthwhile just be good to focus on something outside of your music something you know that's more of a niche more about you more of your personality perfect time to to to remember that music news that matters is streaming on all platforms 100% yeah we're finally doing it yeah so we're doing it there's no reason why you guys can't as well but it's just finally something to talk about that you're passionate about not necessarily like ties into the music that can come later it's just about you know just showing who you are essentially true what maybe we don't talk about enough for you or you talk about you know advice you know what you can do to promote human music and what you can do on social media but maybe podcast should have more of like a shine a light shine to it as it were you think so I think so I think I think it's good if we're talking about you know building up your personality on social media this is another great way to do it and you can talk about something perhaps you wouldn't necessarily talk about on social media like if you're a singer songwriter but you're really into like like mystical creatures or something then you can start a podcast on that like you know it's going to be an audience for it and then they buy into you as a person then they might go and check out the rest of it and this is how it leads to superfans and then this is how it leads back to tipping and stickers and all that I think that's a great point man because if we want to get any indication of superfans a large a good indicator probably is time spent and if you have 50 people listening to your podcast religiously that's probably a lot better than maybe even a thousand just listeners yeah exactly yeah they're the ones that are going to sustain you and support your new careers the superfans not not the general listeners man yeah like listeners to your music so yeah podcasts probably are far stronger indications of that so that could be a good way to start sifting through and seeing who that is it's the network