BusinessWeek Online posted an article in advance of the April 9th magazine with the title “Don’t Quit Your Day Job, Podcasters”.
So, once again, something we don’t understand we mock? The traditional media never takes the time to understand why the “little people” embrace a new voice in the wilderness.
The fact is, most podcasters do produce shows while maintaining a day job. Yours truly not only produces podcasts professionally, but I promote other companies using various web technologies, I service computers and networks, and currently writing a book and kit about podcasting for small businesses!
Quoting from their own article;
While there has been an explosion of shows over the past couple of years, offering everything from advice on how to manage your money to Italian lessons, podcasting’s business prospects are just developing. The share of Americans who listen to audio downloads from the Web has grown only slightly in the past year, to 13% from 11%, according to a survey released last month by Edison Media Research. Those listeners increasingly are crowding around the most popular podcasts. But a lack of standards for placing podcast ads or measuring audiences has hobbled ad spending, which only hit $80 million last year.”
So, in the same article where they slam the content, and the producers, they admit that a measly 2% growth resulted in $80 million in revenue, for a few thousand “indie” shows? Seems like someone should revisit 5th grade math! This is an amazing phenomenon! 2% growth shows revenue increase of over $30 million in one year?
A big factor in how revenue is tracked in podcasting is how many companies produce podcasts for advertising (like ESP and Affari Edge!) vs. how many shows are “indie” content, hobbiests, or, the larger slice, companies producing podcast content for self-promotion or training? Would it surprise you to learn that less than 5% of podcasts are produced with revenue from ads as their main reason for existence?
I can tell you that this is a labor of love for the vast majority of producers, myself included. However, the trend shows VAST growth in households who know what a podcast is, and have been exposed to one in the last year.
Even the author of the study from the Edison Media Research center, Tom Webster, author of “New Podcasting Statistics - Is The Glass Half-Full, or Half-Empty?” had this to say on their site:
Certainly, given the impressive growth in awareness of the term “podcast,” one might have expected more than a two percentage point increase in the behavior. On the other hand, this is 13% of America we are talking about–and while I am not…yet…at liberty to release the percentage of Americans this year who subscribe to Satellite Radio, it is pretty close. So, on the one hand, growth is relatively small, but on the other, podcasting has achieved a similar penetration to Satellite Radio, without the benefit of a honkin’ big marketing campaign, Howard Stern, or Oprah.”
I would think that BusinessWeek should look a little more closely at the numbers before snubbing 50,000 potential subscribers, audience members in the millions, and colleagues in the industry.
The fact is, those of us who produce podcasts for profit, also produce many more for fun, for free, or for a free voice in the new media.
The numbers are growing rapidly, as people learn they don’t need an mp3 player, or Ipod to hear a podcast, and will likely see a change in how they “timeshift” their entertainment, news, music, and yes, even their magazines. RSS changed the world, and shows little sign of slowing down.
The irony is, when I go to the article to read in full on BusinessWeek, they have a full-screen, intrusive pop-up style ad running on the page, blocking my view (which rotates between sponsors) and is more than a little annoying. Geesh, when will they learn?