Today I want to talk about the future of podcasting.
So by the way, if you're interested in podcasting or marketing
videos, don't forget to hit the subscribe and the bell button.
So I think we're in an interesting time right now you have drop-in
audio apps like clubhouse and a lot of copycats, right?
You have Twitter spaces, Facebook's doing something.
Slack is doing something, discords doing something,
LinkedIn's doing something, right.
So I think it's a really unique space that we're in right now.
And then you also have Apple that just turned on subscriptions
and never really wrapping up.
Their podcast analytics, Riverside FM, they're the podcast recording
software or cloud-based kind of podcast recording studio.
They've they've done pretty good.
I, they just raised it above $9.5 million round.
And so podcasting is continuing to get bigger and bigger.
We know Spotify is they've been on a, they've been on a shopping
spree the last couple of years, spending hundreds of millions of
dollars paying for Joe Rogan's podcast and also buying a lot
of these different, uh, like anchor a lot of these podcasting.
Uh, apps.
I think the space is very much heating up right now.
It's getting stronger and stronger.
And when we look at how Apple stepping up their game right now,
Spotify stepping up their game, Apple is creating better analytics.
Again, they're creating subscriptions and they're adding
a lot more capabilities for the podcasters who they've kind
of neglected over the years.
That's great.
I personally use a tool called a chartable and
it's great for analytics.
I've been using it for the last couple of years.
When we look at, uh, Facebook, what they're doing, they're not
just doing a clubhouse competitor.
They're also doing a podcast competitor too.
Right?
So I, I think it's, when you hear someone's voice, you
know, your retention in an app is likely to be higher.
You know, when I listen to someone's podcast, I start to trust them.
I start to think of them as, as my friend, really, any of these
apps, they want people to stay inside much longer, which is why.
Clubhouse did so well initially it's the problem with clubhouse is that
you have to spend a lot of time and kind of engaging inside of the app.
And then, you know, people start to get burnt out.
So I was spending, you know, off to 40 hours a week in it, you
know, I got for out now, I spent about an hour a week on it, max.
Um, cause I, I do one room per week.
By the way, when I was using clubhouse, I'd actually bought
a road castor pro and I was actually recording a lot of the
episodes and I was posting them.
People might think podcast is too mature right now.
I think it's great here.
And here's the reason why I think it's great.
We get 1.5 million downloads a month.
Let's say a small percentage of those people convert.
So maybe 10,000 of the 1.5 million convert into paying
customers for our, maybe we have a premium subscription.
Maybe they're paying $10 a month.
Well, that's a hundred thousand dollars a month.
Multiply it by 12 that's $1.2 million a year.
So I think subscriptions are here to stay also the ability to.
Create a community around it.
So we have for the marketing school podcast, we have a peer group called
the growth accelerator and that's where we have seven to nine figure
entrepreneurs getting together.
And we talk about business.
We have amazing speakers come in.
We'd go to different spots around the world.
And, um, it's just great learnings.
It's great relationship building.
Having to events type of business could make you a million, 2
million, $3 million a year.
So before you know it, I mean, all of a sudden you have a
podcast doing, you know, $4.2 million a year, and you can
also add an advertising on top.
So maybe that's another 500 K to a million dollars.
Let's call it a million.
So $5.2 million a year.
These are the possibilities for you starting a podcast.
Right?
You can take it all the way up and on the other side, Maybe you
don't need that many downloads.
You don't got to worry about the subscription stuff.
You don't have to worry about advertising.
What you could do is you can make a very niche podcast.
Maybe you have one that talks about selling $50 million homes
or a hundred million dollar homes.
And you might have a thousand people that listen to it a month, but all
of these thousand people, they're all people that are in the industry.
Or people that are interested in this stuff and the probably are
within your ideal client profile.
Right.
So why wouldn't you want to talk to these people in that case?
I mean, maybe the advertisement is just your business and
you're doing these episodes with you're building these
great relationships with people.
So it's just different perspectives, right?
And then you can make all your money in the backend.
You don't necessarily need a very big audience.
You could have a very captivated audience that's relevant.
Okay.
And then from there you can just drive them into whatever
offering it is that you have, and you can make great money there.
And maybe that's how you make your millions of dollars or even
hundreds of thousands of dollars.
Right.
You don't necessarily need to make millions of dollars.
I'm just giving you examples.
Like you could have somebody that's, you know, do podcasts load Jerry
and millions and millions or.
You can have it pushed into your business.
You don't need a lot of volume there.
You just need the right people.
You could just be doing it as a student.
You can be interviewing amazing people, and then maybe you can
get a job from these people later for me with, with the leveling
up podcasts, again, for the first two years, I didn't have much
success, $9 a day after the first year, and then 30 downloads a
day after the second year, but I was building great relationships
out and I was learning a lot too.
These lessons are worth hundreds of thousands or millions of dollars.
Right. So it just depends.
On how you look at it and what you're trying to get out of it.
But I think the, the future for podcasting is very bright.
I think a lot of these drop in audio apps will add the ability
to have podcasting features or the ability to, to record.
I just think the ability to express yourself through audio,
especially when you, when you don't have to get ready for the camera.
I think it's, it's, it's here to stay and I think, um, the feature.
Podcasting in general, whether it's short form or long form,
we're still very much in the early days right now, but
there's a lot of opportunities.
So let me know what you think in the comments, what
you think I might've missed.
And don't forget to check out the next video over there and don't
forget if you like videos like this hit the subscribe and the bell
button, and we'll see you later.