On monetization: “Last yr I told you to podcast your passion, don’t do it for money…. and now I am accepting advertising. (Smiles) I sold out…. We’re here because we can create something we love, but now there is more and more of an oppty (sic) to make money with our passion.
We need to be creative and thoughtful about taking advertising, and not cheapen things and sell out. We need to monetize with the same creative and innovative spirit we create our podcasts, try innovative things.”
That's what he really said and...well...that's not a new message.The holy grail of any advertising has been to get the right advertising in front of the right people. I don't dislike advertising; I dislike irrelevant advertising. That's the area where narrowcasters can really provide value to advertisers. Interested audiences are what advertisers are looking for. Podcasters have it.
Another point to keep in mind is that the reason CPM (per thousand download) rates are so low is because historically, only a small percentage of the audience was deemed to be interested in the product. Since advertisers knew they were paying to put their ads in front of a bunch of people who weren't going to take action, they refused to pay very much.
That's different now, but the current system is so ingrained that we're in danger of missing the boat entirely.
So sell out, sure - but do it for your listeners and for your fellow podcasters.
Via Podcasting News
