Russ: So now ad agencies will only pay for 'engaged views'… a metric that nobody's actually defined.
Nadia: I'm Nadia.
Russ: And I'm Russ.
Nadia: You're listening to Feed Drop for Tuesday, September 22nd, 2026.
Russ: We've got three big stories from the business of podcasting today.
Nadia: A group of major ad agencies have made a deal that could completely change how podcast ads are bought and sold.
Russ: We're also looking at a Japanese film accelerator in South Korea and asking if it’s a model for podcasting’s indie scene.
Nadia: And there's a huge production boom in Spain's Basque Country, but we’re asking: who’s really cashing in?
Nadia: Alright, let's get into that agency agreement. Podnews is reporting that a group of rival agencies, sponsored by The Podglomerate, have agreed to only buy podcast ads based on 'engaged views'.
Russ: Okay, hold on. 'Engaged views'. What in the [censor] is an engaged view?
Nadia: That is the billion-dollar question. The goal, according to the article, is to create a consistent standard and finally move past the simple 'download' metric, which we all know can be gamed.
Russ: So they agreed on the idea of a new standard, but not the actual standard? That's useless. It's like agreeing to use 'valuable currency' but not deciding between dollars and seashells.
Nadia: [laughs] It’s a first step, Russ. Our industry has been fighting over inconsistent metrics for years. This is a clear signal that the big buyers want something that reflects actual listening, not just an automatic download.
Russ: I call BS on that. This feels like agencies creating a vague new metric they can define in their favor to pay creators less. 'Oh, sorry, you only had 10,000 truly engaged listeners this week.' Who's the arbiter?
Nadia: That's what they have to figure out. But put yourself in the brand's shoes. They want to know their ad was actually heard. This puts pressure on Spotify and Apple to finally hand over more detailed data on what listeners are doing.
Russ: So what does this mean for me, the listener? Or more importantly, for the creator of that niche history podcast I can't live without?
Nadia: Up front, not much changes for the listener. But for that creator? Their income could get a lot more volatile until this is sorted out. If their show has a small but super-loyal audience, they could actually win big... or they could lose out if the definition ends up favoring mass-market, passive listening.
Russ: So, what you're saying is, my favorite weird shows are at the mercy of a committee that hasn't even had its first meeting. Great.
Nadia: Next, let's head to the Busan International Film Festival. Variety is reporting that Atmovie Inc. is bringing four filmmakers from its 'Global Track' accelerator to pitch their projects to international partners.
Russ: Okay, cool for those filmmakers. But these are movies. Why are we talking about this on a podcasting show? Is there a podcast tie-in I'm missing?
Nadia: Because this is the exact model our industry needs. Think about it: an accelerator that develops talent, and then gives them a formal stage at a big international market to pitch for real co-production deals.
Russ: You mean like a podcast version of Shark Tank, but in a fancy hotel in Cannes?
Nadia: [excited] Exactly! Imagine a 'Global Podcast Pitch' where the best indie audio drama creators or investigative journalists could pitch directly to buyers from Audible, Wondery, the BBC... It leapfrogs the endless, soul-crushing email pitches.
Russ: I can also see it becoming a closed system. One where you have to get into the one fancy accelerator just to get seen. Does this really help the creator in their bedroom, or does it just create a new gatekeeper?
Nadia: That's always the risk. But look at the alternative we have now: a total free-for-all where discoverability is a nightmare and great ideas die on the vine. This would professionalize the whole pipeline, from creator to market.
Russ: So what this means for a podcaster is... they should be hoping someone copies this model for audio, so they have a new, slightly more organized way to get rejected?
Nadia: [dry] It means there's a path for this industry to mature and create original, global IP that isn't just a spinoff of some TV show. It's about building from the audio up.
Nadia: Our last story takes us to Spain, where Variety is reporting a massive production boom in the Basque Country. Get this: in the province of Bizkaia, audiovisual jobs shot up 50.5 percent in the last ten years.
Russ: Fifty percent is a huge number. But the headline's right to ask who owns that growth. Is it local Basque creators getting a boost, or is it just big international companies swooping in for tax breaks?
Nadia: It's a mix of both, which is what's so interesting. The boom is definitely fueled by tax incentives and international demand. But it's also making local production houses stronger, like Irusoin, who are now co-producing much bigger projects.
Russ: This sounds exactly like the podcasting playbook. A city gets declared a 'podcast hub,' rents go up, and suddenly every cafe has three people recording an ad read. But are they local stories, or just Spotify setting up a new glass office?
Nadia: That is the core tension. But the Basque model shows it's possible for the local scene to really benefit. They're not just a service town for Hollywood; they're building actual equity and ownership in the projects made on their turf.
Russ: So the lesson for an indie podcaster in, say, Cleveland, is what? Get the city to offer tax breaks so a big network from L.A. will come record their celebrity chat show there?
Nadia: No, the lesson is to build local ownership. The grants, the studios, the networks of local talent... When you build that ecosystem, you're not just a cheap location. You become a partner. That's how you own the growth, instead of just serving it.
Russ: A partner who still needs the big international money to show up. It's a complicated win.
Nadia: Alright, let's do a quick recap. Ad agencies want to buy ads based on 'engaged views,' a metric that is still completely undefined.
Russ: A Japanese film pitch in Busan shows a possible way for podcasting to fund its next wave of indie creators. And a production boom in the Basque Country is a perfect case study in the fight for local ownership.
Nadia: Before we go, what are you actually listening to this week, Russ? Anything that's not part of a complicated international co-production?
Russ: [laughs] Actually, it kind of is. I've been digging into the 'Atmovie Global Track Shorts' feed. They release the accelerator students' early audio experiments. It's rough, but there are some really fresh ideas in there. Taps into that hope you were talking about.
Nadia: Oh, nice. I'm actually watching 'The Last Goodbye' from Irusoin, that Basque company we mentioned. It's a film, but the sound design is a masterclass for any audio storyteller. It's a great example of that local talent shining.
Nadia: That's our Feed Drop for today. We'll be back tomorrow with more from the business of podcasting.
Russ: Until then, maybe stick with metrics everyone understands. See you tomorrow.
This show is made with AI: the hosts’ voices are synthetic and the scripts are AI-assisted. Every story links to its original source.