Podcasting business opportunities
The most obvious way to take advantage of the podcast craze is of course to start your own podcast. The key here is to find something you’re passionate and knowledgeable about that, as Alex Chisnall of the Screw It, Just Do It podcast puts it, “you’ll still love talking about in 6 months, or 6 years.” While the market may seem crowded already, 700,000 podcasts pales in comparison to approximately 23 million youtube channels, and with new demographics gradually discovering podcasts, there are real opportunities for new providers. If your content is compelling enough, chances are you will find an audience. This is particularly the case for new voices from Black, Asian and minority ethnic (BAME) communities as these groups are currently under-represented in UK podcasting audience figures, possibly due to a lack of podcasts that adequately reflect their experiences.
Make sure to consider YouTube as well. Even though podcasts are an audio medium, the Ofcom research discussed above found that YouTube was actually the most popular way to access podcasts for weekly listeners. To cater to this audience, it’s a good idea to film the recording of your podcast or provide visual features beyond the audio, such as photos, graphics and video clips to illustrate the points you’re making.
Don’t be too anxious about making money from your podcast, not at first at least. As Steve Austin, co-founder of audio production company Bengo Media, advises, “the content, not the money-making, has to take the lead”. If you do start to rack up big download numbers, then you may be in a position to approach sponsors, while alternative approaches include getting your listeners to support you through the crowdfunding platform Patreon, or selling merchandise. You could also use your podcast to promote an existing business, exposing your brand to a new audience and helping to establish your company as an authority in a particular field.
Another option might be to rent out a space as a podcast studio. The requirements for this are similar to any recording studio, so you’ll need to make sure your chosen room is kitted out with microphones, sound desks and the right sound conditioning to make sure you don’t get too much reverb from voices bouncing from wall to wall. Consider location and/or transport links too, there’s no point having a great space if it’s in the middle of nowhere or really difficult to get to. While this route could involve a fairly significant initial investment, as podcasts become more professional, the demand for high-quality recording rooms should increase.
via https://www.AiUpNow.com/ by Alec Hawley, Khareem Sudlow
