Episode 01 - Exposure: Currency of Fools
Consider this… Many of the podcasts you listen to — even some of the ones featured in the iTunes store on the podcasts homepage, the more successful ones — are run by people who are still working their work-a-day jobs, people who are busting their humps to put out great content, and would love to quit their day jobs to pursue their podcasting endeavors full time.
So what does it look like for someone who hasn’t invested an hour, a care, or a dime into the creation of our magical content (podcasts in this instance) to be collecting dividends for compiling and distributing our content, and getting paid, while our podcasts continue to struggle financially?
Remember, a podcast is a business. We have expenses too. Just like any other business, we are in the red or in the black.
Q. You give your podcast away free anyway — you'd be getting free exposure —what’s your problem, Maxximillian?
We do give our content to listeners free—but we can monetize our podcasts with advertising dollars.
Q. So the guy might make some money — what's the big deal, Maxximillian?
Does it seem fair that someone who collects and distributes should collect a paycheck when the creators of the content aren't going to get one?
LET ME DRAW YOUR ATTENTION TO THE GUY WHO STARTED A KICKSTARTER AS A JOKE TO MAKE POTATO SALAD: HE WALKED AWAY WITH (AND KEPT) 55K.
Think I’m kidding? Here, check it out and see for yourself.
So, back to what I'm talking about — here’s a guy who is creating a project using content that he didn’t create and he hasn’t mentioned anything about sharing the revenue from the Kickstarter or any of the advertising revenue he plans to seek out—and yes, he mentioned he is planning to seek it out.
But it's about more than a Kickstarter paycheck…
THIS IS ABOUT PODCAST MONETIZATION.
ANY PODCAST THAT POLY-DISTRIBUTES THEIR CONTENT TO FEEDS OUTSIDE THEIR CONTROL COULD BE KISSING THEIR OWN SPONSORSHIP DOLLARS GOODBYE.
Remember CPM that we talked about earlier? It has to do with that … and there are other potential issues too.
Perhaps there are viable solutions, but to get to those we have to consider all the possibilities—and that includes potential drawbacks. In this episode I share some that I've come up with.
If you have solutions, I'm interested.
To whet your appetite, here's a trailer.
Discussed in the full Episode
- Lack of monetization — poor planning or something less agreeable?
- Inappropriate Email
- Hiding behind the unknowable magic of Kickstarter
- The trouble with “transparency”
- The Scam of “FREE”
- NO PAY vs. FREE EXPOSURE
- Highway Robbery: Monetizing Other People’s Content
- Why download statistics are crucial for podcasters
- Breaking down CPM
- Podtrac (podcast statistics data provider)
- Why it’s important for podcasters to maintain the integrity of their content (keeping a majority of their content on their own feeds)
- Why putting all your content on someone else’s feed may be detrimental for podcasters seeking advertising dollars [13:24]
- Airing my unpopular opinion: Intention vs. effect
- Headspace App
What is “CPM”?
Cost per thousand (CPM) is a marketing term used to denote the price of 1,000 advertisement impressions on one webpage. If a website publisher charges $2.00 CPM, that means an advertiser must pay $2.00 for every 1,000 impressions of its ad. The "M" in CPM represents the Roman numeral for 1,000.
Read more: Cost Per Thousand - CPM Definition from Investopedia
Think you might want to hear the skinny on this?
(Trust me, you do!)
To get the bigger picture, listen to full episode of Maxximillian’s Bosom Buddy Patrons Only Patreon Podcast Episode 01 - Exposure: Currency of Fools by becoming my patron on Patreon.
What’s This Podcast Generally About?
Maxximillian’s Bosom Buddy Patreon Podcast is an intermittent podcast about the behind-the-scenes business of my professional writing, podcasting, and publishing life. it's all business. This ain't a lifestyle show. (I'm sure your own life is plenty interesting.) The business of being creative is full of potholes and rainbows, most times we working artists focus on the rainbows. However, people I meet are often curious about what it is that I actually do, what goes on, and how I make money (or not) so, here it all is. It's everything from the shady offers I get from crafty people approaching me with sneaky podcast monetization schemes to new developments in the indie world of podcasting and book publishing.
Starting a business isn’t always pretty but it can be pretty entertaining (especially if you have a dark sense of humor). Full episodes of this podcast, which include all the juicy details -- and expletives! -- are available to Bosom Buddy patrons, Apex Contributors, and The Don, but I make highlight episodes available to all patrons who support me at a level of $1 or more a month (or you can kick me a buck right here on my website by buying this special episode from my webstore).
Why are the full episodes available only to Bosom Buddy patrons?
These episodes are in-depth sharing of my business and creative life: it’s very personal. My patrons that support me at the Bosom Buddy level are people who I feel I can open up to more than I might to the general public.
Music in This Episode
- Find My Way by Otis McDonald
- Griphop by Kevin MacLeod
- Left U Into Sting by Otis McDonald
- Hidden Agenda by Kevin MacLeod
- Danse of Questionable Tuning by Kevin MacLeod
- Frozen Star by Kevin MacLeod
- Classic Horror by Kevin MacLeod
- Gimme Five by Twin Musicom
- Big Birds Date Night by Twin Musicom
Ye Ol’ Fyne Print
Music by Kevin MacLeod is licensed under a Creative Commons Attribution license // Artist: http://incompetech.com/
Music by Twin Musicom is licensed under a Creative Commons Attribution license // Artist: http://www.twinmusicom.org/
Censor beep courtesy of ermine at freesound.org