Scott Porch, founder of Big IP, discusses the changing landscape of podcasting and the shift towards monetization through memberships and events. He emphasizes the need for podcasters to act as influencers and diversify revenue streams. Topics include podcast production, challenges, AI impact, and monetization strategies in the industry.
Podcast revenue diversification includes memberships and events for sustainable income growth.
Direct support models like Patreon enable podcast creators to engage audiences and generate revenue.
Podcast revenue streams are expanding beyond ads to include touring, memberships, and subscriptions for enhanced engagement and earnings.
Deep dives
Diversification in Podcasting
Podcasting is diversifying with platforms blurring into video like YouTube. The scope of making money in podcasting extends beyond traditional ads to include membership businesses and advanced revenue lines. The podcast market is evolving towards more tailored and specialized content, offering depth and engaging formats.
Direct Support and Platform Leverage
Podcast creators are transitioning towards direct support models where listeners can contribute through memberships or subscriptions, such as Patreon. Platforms like Apple Podcasts facilitate premium content distribution, allowing creators to secure revenue streams and engage with their audience more directly.
Monetization Trends and Audience Engagement
Podcast revenue streams are expanding beyond advertising to include touring, membership models, and subscriptions, with some shows generating more income from non-advertising sources. The rise of live events like tours in smaller venues signifies a shift towards diversified revenue channels and enhanced audience engagement for podcast creators.
Evolution of Podcast Monetization
The podcast delves into the evolving landscape of podcast monetization, discussing shifts in revenue sources within the industry. The speaker highlights the rising importance of subscriptions and touring as potential revenue streams, foreseeing a significant increase in creator revenue share from membership and live shows. Additionally, the discussion touches on the impact of show growth on advertising revenue, emphasizing that scaling up attracts higher ad sales and the significance of quality ad placements in maximizing revenue.
Challenges and Opportunities in Podcast Distribution
Further, the podcast explores the complexities of podcast distribution and the challenges of scaling a podcast in the current market. The conversation emphasizes the dominance of major platforms like Spotify, Apple Podcasts, and YouTube in driving podcast consumption. While dissecting the intricacies of podcast growth, the dialogue underscores the critical role of algorithms in driving audience expansion and the continuous influx of new listeners into the podcast ecosystem.
Scott Porch, founder of Big IP, which operates the business side of several popular lifestyle podcasts like The John Campea Show, Happy Sad Confused, Star Wars Explained, discusses that state of podcasting, and how it is morphing. He acts as something of a talent manager in expanding these podcasts into more well rounded media companies, with revenue coming from memberships and events. The growth of these businesses will not be driven by ads necessarily. "Podcasters are influencers in a lot of respects and they monetize like an influencer in a lot of respects,” Scott noted.
Skip to topic:
00:00 Navigating the Complex World of Podcasting and Monetization
01:25 Introducing Scott Porch: The Podcasting Pro
02:31 The Intricacies of Podcast Production and Distribution
07:33 Exploring the Podcast Landscape: Growth, Challenges, and Opportunities
15:25 The Evolution of Podcasting: From Audio to Multi-Platform Engagement
19:30 The Future of Podcasting: Diversification and Creator Economy
26:25 Understanding Podcast Subscriptions and Membership Models
35:06 The Realities of Podcast Touring
37:52 Monetization Strategies in Podcasting
42:14 AI's Impact on Podcasting and Content Creation
48:36 The Debate Over Long-Form Podcasts
53:23 Challenges and Strategies in Podcast Distribution
58:50 Sponsorship and Monetization in the Podcast Industry
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