Tired of trying to reach a critical mass with your blogs? Tired of sitting in front of the blank compute screen trying to channel your Ernest Hemingway? What about podcasting? Podcasting is one great alternative to reach millions.
“Podcasting?” You say? ”To reach more people than my written blog?” You say? It is true. And here are some other reasons to podcast:
- Gives your voice, well, a voice
- User convenience to listen to where and when
- Can be delivered on many platforms
- Gets someone away from the computer or smart phone screen
- Don’t have to spell check
- Credibility
- Provides an ability to tell a story more directly than words
- It’s inexpensive
What about this humble podcast? Can you make money? What do you need before your start? Who else is doing it? Is it a fad? Well there are a couple of “yes’s” to those questions, but only your inquisitive nature will tell you which.
Like all good business, success is measured in revenue, with a serious eye towards costs. But can you generate revenue with your podcast? Well, you’ll need to pay attention to networks and distribution for some cues and fortunately this was covered nicely in an April, 2010 edition of Fast Company, “A Look at the Ever-Expanding Podcast Universe”. Here is an excerpt from the article with and I’ve added direct links to the sources.
Networks – The middlemen for most podcasts, networks broker ad deals and manage distribution via their servers. Revenue is usually split 50-50 with their members.
- Wizzard Media – “Not everyone who goes into iTunes looks in the podcasts section,” says Rob Walch, VP of podcaster relations, explaining Wizzard Media’s turnkey iPhone app. Such shows as Yogamazing ($2.99) and Learn Adobe Creative Suite With Terry White ($1.99) sell the app to extend their reach.
- Ace Broadcasting Network – In the ramp-up to the network’s late-March launch, Adam Carolla added a weekly CarCast; a sportscast, starring former NBA star John Salley; and a parenting show featuring his wife, Lynette, and his former radio sidekick Teresa Strasser.
- Mevio – Founded by MTV VJ Adam Curry, Mevio hosts more than 70 podcasts, such as Cali Lewis’s GeekBrief.TV, a video roundup of “shiny, happy tech news. [one of my favorites] “Podcasting is my full-time job,” Lewis says. “Mevio helped turn a hobby into a business.”
Distribution
- iTunes – The No. 1 way people get podcasts; iTunes has a commanding 75% market share. Apple reports that there are more than 150,000 podcasts available.
- iPhone App – Live streaming to your cell phone is nascent now but expected to take off once data speeds and battery life improve to support it. When they do, live streaming is podcasting’s best bet to topple radio.
- NPR News – A free app that gives listeners access to NPR and NPR member-station programming has been downloaded more than 1 million times, driving 13 million monthly page views.
- ESPN Radio – Its app ($2.99) delivers live Web broadcasts of ESPN radio shows around the country plus more than 35 podcasts such as The B.S. Report, with Bill Simmons. ESPN says it’s accessed more than 1 million times monthly.
- YouTube – [incidentally the 2nd biggest search engine, pretty compelling business case right there] Singles out notable video podcasts, such as IGN Daily Fix (video-game news), as “series.”YouTube sells ads against the shows and splits the revenue.
Revenue
- Ads/Sponsorships – Hosts read live commercials. Almost all ads have a promo code to track response. Ads on a popular show (2 million monthly downloads) command $25 to $35 per 1,000 impressions. “There are advertisers who spend more than $100,000 a month on one show,” says Mark McCrery, CEO of Podtrac.
- MommyCast – Dixie paper products has sponsored Gretchen Vogelzang and Paige Heninger’s show since 2005, paying more than $100,000 annually. It says podcast listeners are 40% more likely to pass on content than other digital moms.
- Donations (The NPR Model) – Podcasters have often asked listeners to help defray costs by chipping in, but they’ve become increasingly sophisticated as to how. That means pledge drives, premiums, and recurring monthly donations rather than just one-time gifts.
- Live Shows – Live podcast taping are increasingly a staple of a popular show, offering the opportunity to create a stronger bond with fans and generate additional revenue through ticket sales and merchandise.
- Adam Carolla Podcast Live at the Improv Weekly events at comedy clubs and small theaters in Southern California routinely sell out at $25 a ticket. In February, Carolla decided to sell one of the two shows he tapes each night for $2.99.
- Jim Rome
- Rush Limbaugh
- Ricky Gervais
- Subscriptions – Name-brand acts, particularly radio stars, can sell on-the-go access.
source: FastCompany
Other resources:
- How To Start a Podcast - Wired Journalists
- Get a great listing of Podcasts over at Blog Talk Radio
- My lifeline Steinar Knutsen on how to start a podcast quickly, easily, and without spending a fortune
2 final thoughts:
- Think about keeping your podcasts between 60 to 90 seconds – this keeps your content fresh and is a great opportunity for busy people to squeeze you into their busy schedules
- As always, content is king. That means the more you know your audience the better you can deliver valued content that might turn a stranger into a buyer
I welcome your thoughts and comments.
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