Where the Podcast Money Is ...
Aside from selling your own products or services, the main ways podcasts make money are via advertising and sponsorship or exclusive deals.
This issue talks about both. And, as always, there's even more commentary on the audio version.
People ask me all the time, "How do I get a contract with a company like Spotify?" And there are two ways:
- You have an existing podcast with a big audience.
- You have an existing big audience and Spotify thinks that will transfer to a new podcast they produce.
The #2 reason doesn't always work out, which is why this podcast has been a huge bomb so far. The #1 reason is far more successful for people wanting big money, so do what you can to focus on the listeners you can get now – it will give you a lot of leverage should you want to negotiate an exclusive deal.
You don't need a deal with Spotify (or any other major platform) to do well with your podcast. But you do need listeners. Also in this issue, I've got a great opportunity with On Air Fest to help you get more of them. And also some opportunities to earn money with the podcast you have now.
Podca$h is Giving $100,000 to Upcoming Podcasters
This company is awarding between $250 and $5000 in sponsorship to hundreds of podcasters and podcasters-to-be.
You can apply if:
- You have a podcast or are podcast-curious
- You’ve had less than $10,000 in sponsorships for your podcast
- You’ve got stuff to say and you want a sponsor
- You’re in the United States
A few thoughts ...
This is a promotion designed to launch a new podcast app. Nothing is ever "free" and "something for nothing" doesn't exist. But this may be a good opportunity for you. You'll probably recognize some of the judges associated with it, so you may want to reach out to them for more info.
On Air Fest – Podcast Submissions Wanted!
On Air Fest is a cultural event for audio creatives and inspired listeners. This year's lineup includes:
- Jad Abumrad - Founder, Radiolab
- Chuck D - Public Enemy
- Dr. Jane Goodall
- Dexter Thomas Jr - Vice News
- Anna Sale - Host, Death, Sex, and Money
Want to be part of it? Beyond attending, On Air Fest is looking for submissions.
WHAT THEY WANT: Pieces that emphasize experimentation and showcase a unique point of view: an ambient collage, a work of poetry or fiction, the sounds of your hometown, a great interview, a tiny documentary, or something never heard before.
- Works must be able to be shared as an .mp3 file
- Between 1 and 10 minutes in length
- If excerpted from a longer piece, the work must be able to exist fully on its own without an introduction
- The work is submitted by its owner/creator
- Please strip any embedded ads
More info on the site! If you're interested, jump on it now. Deadline is January 31.
Amazon Buys Exclusive Rights to My Favorite Murder Podcast
Amazon is getting deeper into podcasting after buying the advertising and distribution rights to the popular true-crime podcast, My Favorite Murder. Amazon Music and Wondery will offer new episodes on the Amazon Music app a week before they are available elsewhere.
Is going "exclusive" like this a good deal for creators? On one hand, there can be a lot of money paid in advance, which can be nice. But on the other, being exclusive to a single platform can disrupt listeners' consumption of your podcast and lower audience numbers.
I'll have more thoughts about this on the audio version of this newsletter. Until then, read the article to get all the details. This may be something for you to pursue with your podcast.
Looking for Podcast Sponsors? Try this "Top 100" List...
This is a list of The Top 100 Newsletter Sponsors of 2021. And if they're going to sponsor newsletters, they're open to podcasts, so it's wide open for you.
Here's the "trick" to getting them >> Let them know you will produce the spots.
Seriously, I've worked with a lot of companies to move into podcast and radio advertising and lack of knowledge about how ads are created is the #1 reason most of hesitant about jumping in – these businesses have no idea is this something that is included in an advertising package.
That's why you have to tell them.
Not all of these companies will work as sponsors for your podcast, but some will. For best results, look at what they're doing in these newsletters and approach them with something similar, but in audio form.
The Business of Podcasting
Inside Spotify HQ – 10 "Podcast Studio" Photos
Spotify has money to spend and this is how they're spending it.
Like Netflix, Spotify found out that it can get very expensive to run a business where all of the content you distribute is licensed from others, so they're in the process of making their own. And the studios pictured in these photos is where they're doing it.
The Wrap Up
The Wrap Up
My goal is to better empower podcasters to be more successful spreading their messages and make more money with their podcasts.
I'd love it if you'll help me spread the word about this newsletter by sending your podcasting friends to bigpodcast.com/newsletter.