Del Fordham is no stranger to audio storytelling. Having led 9Podcasts and previously served as head of audio at News Corp, he has spent years refining strategies that drive engagement and revenue in the podcasting space. Now, as he steps into his new role as associate director for Audible APAC Originals, he is set to help shape the platform’s premium content strategy in a rapidly growing market.
“The exciting thing that Audible has been doing over recent years, is focusing on premium content,” Fordham told Mediaweek. “If you look at the content that Marc Fennell, in particular, has created from a podcast perspective, it’s award-winning stuff. Audible is about that premium experience.”
Australia’s booming podcast market
According to Commercial Radio Australia’s (CRA) 2024 Australian Podcast Report, society and culture, true crime, and news continue to dominate the Australian podcasting landscape. True crime fans, in particular, are power listeners – 57% are more likely to clock in five-plus hours of content weekly.
The report also revealed the medium is on a meteoric rise across the country, with listenership up 37% in just two years and nearly 6 million tuning in weekly. The boom is fuelled by a growing pool of publishers and platforms, meeting the surging demand for on-the-go, on-demand audio.
Podcasting’s reach also remains strong, with 48% of younger Australians (18-34) listening in the last month. Additionally, 37% of Australians aged 35-54 and 21% aged 55+ also tuned in over the past month. This broad demographic appeal signals the growing popularity of the medium across all age groups.
Subscription vs ad-supported podcasts
As the podcast industry evolves, so does the battle between subscription-based premium content and ad-supported free podcasts. Two major players in this space, Audible and Spotify, take distinct approaches to how they deliver and monetise content.
Spotify has built its podcast empire largely on ad-supported content, offering millions of free podcasts while still featuring exclusive and subscriber-only content. While, Audible operates primarily on a subscription model, where most content sits behind a paywall.
Fordham believes his experience at News Corp, where he oversaw the success of subscription-based investigative podcasts, can offer key insights into the potential of paid audio content.
A vision for Audible’s growth
“When I was at News Corp as head of audio, we had quite a few very successful podcasts that were only available with a subscription,” Fordham shares. “Through True Crime Australia, we created at least four or five investigations that were only available with a subscription. But with that subscription, you didn’t just get the audio- you got written yarns, images, videos. That worked. That was successful.”
Fordham believes this highlights an important shift in how premium audio content is packaged – it’s no longer just about podcasts, but rather a multi-format experience that adds value for paying subscribers. This aligns with Fordham’s philosophy: “The content must be of high quality, have longevity, and still be relevant years after its original release.”
Understanding the younger demographic in audio
Fordham also sees an opportunity to tap into a younger demographic, particularly listeners under 40, who remain under-served by world-class production. “I feel like the younger demographic, 35 and under, maybe 40 and under, isn’t being as well-serviced as they could be from a world-class production perspective,” he notes.
Interestingly, Fordham highlights that younger audiences tend to be more loyal: “I have found that a younger audience, particularly under 35, is far more sticky when it comes to staying on content. Whether that’s a true crime series, a lifestyle podcast, finance, business, or health and well-being content, they are pressing ‘follow’ and sticking around longer.”
He continued: “I think particularly in Australia, the younger audience is far more open-minded when it comes to trying out something new. And if you hook them in, they stay around for longer.”
The future of premium audio in a subscription economy
As more companies shift toward subscription-based revenue models, Fordham believes that businesses must reward their paying subscribers with content that justifies their investment. “We live in a changing landscape where subscriptions – whether audio, video, books, or even your favourite news masthead – are more common than ever,” he explains. “Businesses need to reward that. They need to reward the person for downloading your app, taking out a subscription, or even just trialing it.”
Retention is key, he adds. “Trialing is a big one. If you get people in after a trial, and they stick around and don’t churn, that’s a huge win. There’s something in the content that has to reward the person for downloading your app and subscribing. It’s a different mindset.”
His final take? Success in the audio space requires data, strategy, and experience. “There is an alchemy to it,” he explains. “It’s a few things: data, your overarching strategy, and a knack for picking content that will work. Over time, you learn what works for your audience, and you can move quickly on an idea.”
With Australia’s podcast market only continuing to grow, Fordham believes Audible will play a crucial role in shaping the region’s next phase of premium audio content.
Pictured: Del Fordham