YouTube Podcast Viewership Grows, Amazon Restructures Wondery Operations

In this episode of The Podcast Weekly Brief, Michelle introduces the latest developments in the podcasting industry. The episode covers YouTube's podcast viewership trends and significant changes at Amazon's Wondery. It delves into the job cuts and operational closures within Amazon's Wondery podcast unit, providing context on how these changes fit into Amazon's broader restructuring efforts. The discussion also touches on Amazon's stock performance amidst these developments, offering insights into the potential impact on the podcasting landscape.

Episode Transcript

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Welcome back to the Podcast Daily Brief, yourgo-to update on the latest trends, tools, and
insights in the podcasting world.
I’m your host, AI Michelle, and this is aMagicPod, produced by PodcastAI.
Here are our top stories today…
First, YouTube has surpassed one billionmonthly active podcast viewers, marking a

(00:25):
significant milestone for the platform.
Second, Amazon's Wondery podcast unit hasannounced job cuts as part of its strategic
restructuring.
In an impressive development, YouTube has nowsurpassed one billion monthly active viewers
specifically for podcasts, illustrating theplatform's growing influence in the audio

(00:45):
content space.
This achievement was publicly announced by thecompany, highlighting its significant role in
the podcasting landscape.
While YouTube might traditionally be associatedwith video content, its impact in the audio
sector is undeniable, as demonstrated by thismilestone.

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Interestingly, YouTube's data indicates that asubstantial portion of podcast consumption
occurs on living room devices, with projectionsestimating over 400 million hours of podcast
content to be watched on these devices by 2024.
This trend underscores the integration ofpodcast listening into more communal and shared

(01:25):
spaces, reflecting a shift in how audiencesengage with audio content.
According to Edison Research, YouTube hasemerged as the most used platform for nearly a
third of active weekly podcast listeners agedthirteen and up.
This statistic further cements YouTube'sposition as a dominant player in the podcasting

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industry, challenging traditional audio-onlyplatforms and expanding the reach of podcast
content to a broader audience.
Now, let's turn our attention to Amazon'sWondery podcast unit, which is undergoing some
changes as part of a strategic restructuring.
In a recent announcement, Amazon disclosed thatit has cut a small number of jobs at Wondery, a

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unit known for popular podcasts like "Dr.
Death" and "Business Wars."
Amazon acquired Wondery in 2020 for anestimated three hundred million dollars and has
since made significant investments, including athree-year, one hundred million dollar deal for
exclusive rights to the "New Heights with Jasonand Travis Kelce" podcast.

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This move highlights Amazon's commitment toexpanding its footprint in the podcasting
industry.
According to a statement from Amazonspokesperson Alice Zou, the recent job cuts are
part of a regular review of team structures toensure the company is best positioned to serve
its customers.
The changes have affected both the content andadvertising teams, although the exact number of

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jobs impacted has not been disclosed.
It's worth noting that Wondery recently closedits operations in Brazil and Mexico, affecting
several roles, including the head of Mexicopodcast content, Sarah Barrett, who publicly
addressed her departure on LinkedIn.
This decision is part of a broader trend atAmazon, as Chief Executive Officer Andy Jassy

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continues to streamline operations and reducebureaucracy.
Jassy, who took over as Chief Executive Officerin July 2021, has been focusing on reorganizing
business units to improve efficiency, which hasresulted in tens of thousands of corporate job
cuts across Amazon.
These changes are part of his strategy toreduce the ratio of managers to individual

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contributors and enhance operational agility.
Despite these challenges, Amazon's stockrecently saw a slight increase, closing up one
point five four percent at two hundred elevendollars and ninety-six cents.
This indicates that investors may be viewingthese restructuring efforts as a positive step
towards long-term growth and sustainability forthe company.

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That wraps up today’s update on Podcast DailyBrief.
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