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Futvox: By 2023 in the US there will be an advertising market of US$2 billion in podcast

October 15, 2021

Maribel Ramos-Weiner

Carlos Martínez de Futvox

‟The US, before the pandemic, was, in 2018-2019, a US$1 billion advertising market in the podcast. Until 2005 it was only US$200 million, and for 2023, a US$2 billion investment is expected. It is very large. Obviously, in all that market, we are looking at a Latino segment in Spanish, and within this, a subdivision of soccer content” said Carlos Martínez, founder of Futvox, on #PRODUprimetime with Richard Izarra.

THE ENTIRE TERRITORY
‟It is the market (podcast) that is growing more, and I think that at some point, it will move to subscription. Good podcast content, in the end, will be under a subscription model. We are in all the countries and will soon have a podcast in each one of the countries of Central America, and after that, we will have all the territory covered. We would just be missing Brazil, but working o that, because although the language is a barrier for the rest of the podcasters, there is a large market in Portuguese” he added.

ENTREPRENEUR AND PIONEER
‟Today I have the huge pleasure to be with an executive entrepreneur, an expert, and pioneer of our pay-TV industry, with 35 years of experience. He has grown in the field because he was a door-to-door salesman. That is why he is a pioneer and continues to be so. Now, as an entrepreneur of the podcast and other ventures in the US where he is currently based in Miami, he is the founder of Futvox, a podcast network in Spanish, dedicated to soccer for Latin America and US Hispanic, and he is our great friend Carlos Martínez”.

STORYTELLING IS THE MAIN THING
‟All this came out of a need that arose during the pandemic, to be locked in trying to consume. We realized there was a segment missing, devoted to soccer editorial debate and analysis. We saw that the Hispanic market in the US was moving a great deal towards that type of content in podcasts. That is why we created the company Futvox, where we have over 60 hours. To date, we have 60 different podcasts, 60 different shows with 35 daily broadcasts. We are seeking to be the destination in Spanish of the entire editorial, analysis, and debate aspects on soccer. It took a year to plan, and what is more important was that we chose in detail the entire content mix we would offer. Podcasts didn’t actually have podcast content, but the audio version of television programs from many networks. But making a podcast is something very different. We have learned a great deal, mainly that people use it when they do all sorts of activities. We ventured into storytelling. And another important aspect is that they are short formats, between 10 and 15 minutes per day. Every day we are delivering 30 shows from all over Latin America”.

INVESTORS
Richard: This whole network costs money, you have been working for a year, you also launched it with great fanfare. Do you have investors, is it you alone, what is it like? ‟We have a group of investors that are all friends, but that nurture the company in a very intelligent way. A group dedicated to selling commercials, I cannot say names, but it is one of the biggest commercials companies in Mexico, that contributes just that. They prepare the product, write it, and with ten words they sell the product. The response has been amazing. When you put information on TV they know when they receive the call or when they receive the purchase on the Internet; they know what media it came from, all the demographics, the people who bought it. It is a mechanism with a great deal of information. The other investors are from a large US company dedicated to audio. Other investors are from a company dedicated to programmatic advertising sales, mainly in US Hispanic. They contribute the part of how to understand programmatic sales. Because 100% of advertising in podcasts is sold programmatically through different platforms. They have this experience. And the rest are friends who have trusted in the project, who have fun with it, they like soccer. We also have soccer teams that have certain participation” he mentioned.

RENOWNED COMMENTATORS
Richard: We all expected that from you, after 18 years as president or in Fox International Channels, where you helped the company grow, you learned a great deal. You have used all your subscription and business experience to create this international network of renowned commentators… “Along with having this roster of talents, the most important thing was the selection of the set, the set of contents is what makes Futvox, as I see it. We have commentators, first from all the countries, but we also have them of different ages. Very well-known commentators, and young and hipster ones. And on the other hand, there are men and women. There are people who are good for commenting, people who are good for debating, others for analysis, there are former players and former trainers. The combination is the good thing.”

ALL PARTNERS
Richard: I understand that the business model is that you made them all partners. They are your partners and each one incorporates their followers on social networks. I think the idea was brilliant… “It is good. It gives us a long-term commitment from them. We are focused on a market that is new for them, the US Hispanic to begin with. Obviously, podcasts are heard worldwide. We now have a lot of people who are subscribed outside the Americas. This week we had around 1,500 podcasts out of Mexico and the US because platforms are broadcasting them. The negotiation we made is huge, the entire content is on all the platforms worldwide. Our focus is the US, to start because it is the market that is more mature in terms of the podcast”.

UNCENSORED WORLD CUP
Richard: The creation of Futvox comes at a great moment because soon the Qatar World Cup is coming. “Of course. The World Cup is next year. One of the most important topics is that of storytelling, as well as short and daily formats. I know our talent very well because many used to work at Fox Sports or were our competitors on other TV channels or in other media such as newspapers and radios. When you are in massive media you have to model your impetus and your objectivity. You cannot say that you are in favor of this or that team, you cannot show your happiness because your team won… You have to be very fair to the majority of the people who are watching, for the ratings, programs for the majority of the people. But not here in the podcast. Here on the podcast, it is you. Here, each one of my talents says what they like or not, the team they are rooting for or not. People who follow a talent on a podcast are following him in their personal style. That makes the style deeper, much more daring and uncensored”.

In the conversation, he also spoke about his restaurant company with the brands Little Hen and Botánico Gin & Cook House. Also, the company for consulting and investing in audiovisual media, Biztorm.

Watch complete interview