You may be listening to podcasts to enhance your business. Is podcasting something you have considered doing for your business? Podcasts have now become mainstream with proven revenue. While podcasts still lag behind radio in terms of revenue, podcasts have enjoyed continued growth over the past years. In much of the same way Netflix hasn’t replaced traditional broadcasting Netflix gives users more choices, Podcasts allow users more choices. CBS posted an article, Podcasting is finally attracting real money, which states, “Advertising spending on podcasts is expected to reach $34 million in 2015, an increase of about 10 percent from 2010, according to Zenith Optimedia, which tracks ad spending. But some in the podcast industry say that estimate is too low.” But that is just the tip of the podcast revenue iceberg. Other revenue comes from subscriptions (membership fees), increase sale of items a podcast is discussing, and sponsorships. According to the Washington Post, “importantly, podcasts are finally profitable.”
As Wikipedia explains, “As discussed by Richard Berry, podcasting is a converged medium bringing together audio, the web, and portable media player, and also a disruptive technology that has caused some in the radio business to reconsider established practices and preconceptions about audiences, consumption, production, and distribution. This is largely because no one person owns the technology; it is free to listen and create content, which departs from the traditional model of “gate-kept” media and production tools. It is very much a horizontal media form: producers are consumers and consumers may become producers and engage in conversations with each other.”
Apple iTunes in 2013 reached one billion podcast subscribers according to MacWorld.
99% Invisible, a program originally produced on a shoestring budget with the theme of design, now has one and a half million downloads each month according to the Washington Post. Revenue comes from a half-million dollars in two Kickstarter campaigns, sponsor advertising, donations and selling 99% Invisible (Radiotopia) merchandise. David Axelrod, former advisor to Barak Obama, has one of the top ten podcasts in the iTunes, The Axe Files, which is sponsored by the University of Chicago Institute of Politics. John Lee Dumas, founder of the Entrepreneur On Fire show on iTunes has reported $2 million revenue in his second year according to Forbes.
NPR is famous for podcasts (25 million downloads of its podcasts each month) starting in 2001 when Apple released the iPod. Zach Brand, vice president of digital media for NPR, told Macworld, “Obviously, podcasting is a very natural fit for our audio focus. Our audience loves listening to our content through podcasting, and we love delivering it. We like to engage our audience on whatever platform they choose to listen.” Wired in an article entitled, Podcasts Are Saving NPR, wrote “According to the latest numbers from Edison Research, an estimated 46 million Americans listen to at least one podcast a month—a number that has grown steadily since 2008.” Sponsors of NPR look closely at those numbers.
There are a number of podcast success stories by mindset, Mashable, Social Media Examiner and many others. You may want to read 23 Reasons Why Businesspeople Love Podcasts or Five Revenue Strategies From a Million Dollar Podcast. If you need assistance setting up a podcast for your businesses with most of the technology you probably already have in your possession right now, contact Connectech for advice. We will be happy to assist your business podcast.