Media entrepreneurs in search of podcasting monetization get to pick the brains of podcasting pioneers and industry leaders from around the country in a series of videos on the economics of podcasting.
Digital media entrepreneur Jamarlin Martin evangelizes the business and educates the community in a series of panel discussions on the economics of podcasting: monetization and building an audience.
The podcasting event, entitled “The Economics Of Podcasting: Monetization Within A Bull Market,” is led by Jamarlin, host of the GHOGH podcast show and CEO of Nubai Ventures and Moguldom.com.
Panelists include Akinwole “Aki” Garrett, Danny Peña and Deborah Gray-Young. The event was held at Miami’s Space Called Tribe Co-Work and Urban Innovation Lab on June 6, 2019.
We’ve broken the entire event into eight sessions. Watch all eight sessions here.
Podcasts are blowing up right now. Everybody wants to launch one, yet African Americans represent just 1 percent of daily podcast listeners. We show you the low barrier to entry, audience data and analytics tools that help make podcasting so hot right now in Session 1 Part 1 of “The Economics Of Podcasting: Monetization Within A Bull Market”. The panel discussion includes the contribution of smartphones, Apple, iTunes and Spotify, and how you can stand out in a crowded space.
Podcasting pioneers and industry leaders discuss why the Black media establishment hasn’t gotten behind podcasting as a medium, and how to overcome that in Session 1 Part 2 of “The Economics Of Podcasting: Monetization Within A Bull Market”. African American businesses are held to a higher standard of rigor, panelists say. In podcasting, there are concerns over brand safety and content regulation. Understanding your user, your audience, engagement and content are key.
Listen to GHOGH with Jamarlin Martin | Episode 48: Diishan Imira
Part 2: Jamarlin continues his interview with Diishan Imira, founder of hair-care platform Mayvenn. They discuss how Diishan was mentored to think like a boss and “ask for the check,” and how much it meant to him to have investor Richelieu Dennis in his cap table. They also discuss New York progressives bangin’ back against Amazon and the growing negative sentiment against big tech.
Are certain industries or categories of podcasts more lucrative than others? Content offering insight, experience and tips are highly valued, podcasting experts say in Session 1 Part 3 of “The Economics Of Podcasting: Monetization Within A Bull Market.” So is Black tech entrepreneurship. If you’re African American in tech and you’re a woman, you probably even have more of a leg up. The ability to monetize an audience is going to come with scale. It helps to do some type of partnership where you can tap into your audience and vice versa. But resist the temptation to be a copycat. Even if you’re going into a lane that already exists, figure out your unique point of view. What is it that everybody wants to know and nobody is talking about?
Podcasters from the audience discuss their challenges and concerns for brand safety and content in Session 1 Part 4 of “The Economics Of Podcasting: Monetization Within A Bull Market.” Creators want to stay true and authentic to who they but sometimes it’s necessary to change, for example, dial back the vulgarity. Not saying take it out, but it doesn’t need to be egregious. That way you can strike a balance and find advertisers that are willing to take on some explicit content. “Don’t disrupt your core message, your core authenticity,” panelists say. However, think about your monetization strategy.
Larger media networks have built up a million followers on Facebook or Instagram or Twitter. Panelists discuss how your podcast can get access to that audience in Session 2 Part 1 of “The Economics Of Podcasting: Monetization Within A Bull Market”. As a podcaster, you create content and agree to deliver it at a certain frequency. You can market it, leverage your channels and social media and work together to build an audience. Models that have come up since the ad network model allow podcasters to take back some control and sell their own advertising with prerecorded live reads. This video gets into subscriptions.
What’s your podcast audience engagement? Session 2 Part 2 deals with that. You’ve got to be able to quantify that and prove it out because everybody is going to be looking for a return on investment to some extent. Your audience engagement will give some indication of how scalable the show is.
Where is your tribe? It doesn’t matter that they’re national or local. What people are really interested in is how engaged is the audience with the content and do they come to it often? Once you get a lot of advertisers, then the price has got to go up.
A lot of folks are bringing in money from their podcast audience through Patreon and other subscription platforms. It’s a way for the small single podcasts to generate some revenue and build loyalty. People who are passionate about your content are opting in, signing up and paying you a donation each month to have access to your content. Learn about different hooks you need to create with your content when you move away from an ad-supported model to more of a subscription-based model in Session 2 Part 3 of “The Economics Of Podcasting: Monetization Within A Bull Market”.
Brands are looking to partner with podcasters to launch unique podcasts that they own. Hollywood talent agencies are looking to partner with podcasting talent to go national with live events. From a recruitment perspective, getting noticed by bigger agencies and outlets as a podcaster almost mimics the music model. Opportunities for making money as a podcaster are some of the topics in Session 2 Part 4 of “The Economics Of Podcasting: Monetization Within A Bull Market”.
