How Ben and David bootstrapped the Acquired podcast
Jan 25, 2024
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Ben Gilbert and David Rose, hosts of the Acquired podcast, had a breakout year after switching to Transistor for hosting. They interviewed the CEOs of NVIDIA, Uber, and Charlie Munger. This interview covers their origin story, how they built momentum, and their monetization through sponsorships. It's helpful and inspirational for podcasters and indie entrepreneurs.
The Acquired podcast's success is attributed to their thorough research and unique interviews, setting them apart from other interviewees and attracting valuable guests.
Switching to Transistor as their podcast hosting platform allowed Acquired to better monetize their back catalog episodes and have more control over their podcast.
The podcast prioritizes creating exceptional sponsor partnerships by going beyond traditional podcast ads and providing added value to sponsors through events, dinners, and special episodes.
Deep dives
The Journey of the Acquired Podcast
The Acquired podcast, hosted by Ben Gilbert and David Rosenthal, started as a passion project while they were venture capitalists at Madrona. It began with the goal of learning about technology acquisitions to improve their job performance. They covered companies like Pixar, Instagram, and Twitch in their early episodes. They focused on organic growth and gradually built an audience through word-of-mouth recommendations. They never had huge spikes in growth until the episodes featuring Jensen Huang, CEO of NVIDIA, and Charlie Munger. The podcast gained recognition and support from the tech ecosystem. They obtained their first sponsored deal with Silicon Valley Bank and began monetizing through advertising. The podcast brought them opportunities to meet people in the industry and enhanced their influence. The growth has been steady, doubling their audience every year. They recently switched their podcast hosting to Transistor to use dynamic ad insertion and better monetize their back catalog episodes.
Creating Compelling Interviews and Impactful Moments
The Acquired podcast's success is attributed to their thorough research and unique interviews. By deeply studying companies in their episodes, such as Berkshire Hathaway and NVIDIA, they were able to ask insightful and compelling questions. This set them apart from other interviewees and attracted valuable guests. Their genuine enthusiasm resonated with their fanbase, creating a loyal community. A significant moment was when Jensen Huang, CEO of NVIDIA, admitted that he wouldn't start the company again if he was 30 years old. This vulnerable response sparked interest and discussion among listeners. These impactful moments, combined with a scanable episode catalog, contributed to the podcast's growth and engagement.
Switching to Transistor: Elite Boutique Fit
After being with Libsyn, the Acquired podcast sought a host that could support dynamic ad insertion in their back catalog episodes. They evaluated various hosts but found Transistor to be the perfect fit. Transistor's technology and willingness to work with them stood out. The smaller size and flexibility of Transistor aligned well with Acquired's preferences, as they didn't want to be tied to a network. Transistor's analytics and data solutions were tailored to their needs. The switch to Transistor allowed them better monetization and control over their podcast, resulting in a successful partnership.
Creating an 11 Star Experience for Sponsors
The podcast prioritizes creating an exceptional experience for sponsors by going beyond traditional podcast ads. Rather than treating sponsorships as a transaction, the podcast aims to form partnerships with the sponsors. They provide added value to the sponsors by participating in their events, hosting dinners with top sales prospects, and even producing special episodes focused on the sponsor's company. The goal is to make sponsorships interesting and valuable for both sponsors and listeners, elevating the overall experience.
Embracing Brand Advertising in Podcasting
Instead of focusing solely on direct response advertising, the podcast embraces brand advertising, which aims to raise the esteem and awareness of a company or product. They believe that podcasting, with its strong host-listener relationship, is an ideal medium for brand advertising. By delivering high-quality content and partnering closely with sponsors, the podcast seeks to enhance the reputation and profile of the sponsors. This approach differs from the prevalent direct response advertising model in podcasting and offers long-term value rather than immediate transactional results.
Fast Company called Acquired "the #1 tech podcast sensation." I've been a huge fan of the show for years. So, I was surprised when they contacted me and wanted to switch to Transistor for podcast hosting!
Since switching, they've had a breakout year. Their clips started showing up everywhere on my social media feed; they had chart-topping episodes on Nintendo, Nike, and Costco, and they interviewed the CEOs of NVIDIA, Uber, and Charlie Munger.
And this was the year that Ben Gilbert and David Rosenthal (the co-hosts) both went full-time on the podcast. Podcasting is now their job.
With all of that activity, I thought Build your SaaS listeners would be interested in hearing my interview with David about their entire story:
How they got started, how they built momentum over time,
how they were able to double their audience every single year since 2015,
And how that momentum ended up Attracting an incredibly valuable audience that they've now monetized through sponsorships.
This interview has so much that podcasters, creators, and indie entrepreneurs will find super helpful and inspirational.
π₯ Key moments:
(0:00:00) β A breakout year for Acquired
(0:01:45) β What is the Acquired podcast about?
(0:02:40) β How the Acquired podcast got started (origin story)
(0:07:23) β How Ben and David's co-hosting relationship works
(0:09:00) β The 3 big goals that made them want to start Acquired
(0:11:38) β How did listeners respond to the first episodes?
(0:14:55) β The best reason to start a podcast
(0:15:30) β The secret to how Acquired attracts new listeners
(0:18:13) β How they got featured in Apple Podcasts, Overcast, Pocket Casts, and Spotify
(0:24:18) β How they got their first podcast sponsors (and why it wasn't about making money)
(0:27:58) β Why they give their sponsors a white glove, 11-star experience
(0:34:13) β How to get more word-of-mouth referrals for your podcast
(0:37:00) β Acquired's unconventional approach to podcast ads
(0:41:54) β How the Acquired podcast's growth machine works
(0:48:05) β Why their NVIDIA podcast episode went viral
(0:50:48) β Why they switched from Libsyn to Transistor for podcast hosting
(0:57:18) β The rise of the "independent, boutique podcaster."
(1:02:27) β "The future of podcasting doesn't belong to Gimlet, NYT, NPR..."
(1:06:22) β David Rosenthal's advice to aspiring podcasters