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In this episode, we discuss the phenomenon of the growth of podcasting — especially in the arena of entrepreneurs, small business owners and startups.
With the recent pandemic and virus crisis, the mandates to stay at home and work from home caused a surge in the area of podcasting — as many podcasters had already adapted to this situation of podcasting from a home “studio” or office from a relatively low cost of entry.
And we see that even many of the new media professionals and hobbyists are creating podcasts and entering the field of entrepreneurs with those credentials. For example, many You-Tubers are now creating audio podcast episodes from their videos on that platform. In fact, there are even online tools that help to move videos and tutorial episodes from the video platform to the audio platform (i.e., create mp3 files) to create podcast episodes. And also, many other podcast consultants will also help to move the content from video to audio and then help to publish and release audio episodes within a podcast show.
With the entry of such entrepreneurs into the area of podcasting, we see the growth for the potential of education, training, tutorials and support services for these newcomers — which can mean additional new businesses that can help to support this migration from video to audio.
And this is not such a new phenomenon, for the migration of bloggers to podcasting had also seen this movement in the last several years. But now that the pandemic “new normal” had basically made many become entrepreneurs to “stay at home,” the attractiveness of podcasting — along with the opportunity for creating revenue streams while being at home — has seen the platform grow rapidly. And this growth has seen the amount of podcast shows expand to over one million podcasts in 2020.
And because the revenue streams created by creating an online business and adding podcasting to that business can be the low-hanging fruit for the aspiring solo-preneurs, even the smallest opportunities for generating income are now growing. For example, the revenue from advertising due to downloads using the cpm (i.e., cost per thousand downloads) can be achieved easily once the podcaster grows his steady stream of listeners to subscribers and increases the downloads per episode.
But, as has been stated by many podcasters who have been around for 15 years in the podosphere, it is not the podcast itself that can grow large revenue streams — rather, it is the business that the entrepreneur has and its inclusion of podcasting in the marketing and sales implementations that can achieve this goal.
And for the many ways that podcasters can generate income from podcasting, there is the resource from Dave Jackson in The School of Podcasting show called More Podcast Money. This book, which is a good resource in itself, is being updated in July of this year. It has many strategies and revenue-producing tactics that can help you, as a podcaster, make money from your podcast show — as long as you commit to having the time, putting in the effort and monitoring the success of each strategy. And some podcasters have used multiple strategies from this book to generate multiple income streams. They also have had to monitor, manage and nurture each of the revenue streams to keep them going and to follow up with other revenue opportunities.
So, if you, as an entrepreneur — especially in new media– wish to add podcasting to your marketing and business, you do have the opportunity to generate income with this “new normal” for working at home. For fifteen years, podcasters have been doing it, and now, you also can join this “club” of revenue generators.
Thank you for your attention.
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