SLS: Creating Podcast Budget, Tom Webster Edison Research

Spreaker Live Show #182 for Feb 27th, 2019 Show Duration: 70 minutes - Host: Rob Greenlee, VP of Podcaster Relations of Voxnest that operates Spreaker. I am a 14+ year podcaster that started out on the radio. This is the official podcast of Spreaker platform. @robgreenlee - rob(at)voxnest(dotcom) - We stream LIVE every Weds at 3pm PST / 6pm EST from SpreakerLiveShow.com -You can now get the show on Google Podcasts App on Android - You can hear this show on Amazon Echo Smart Speakers now via the New Spreaker Skill - If you want to send me an audio promo for your show, I would be happy to play it on the show. - Just create an MP3 and give me a brief description of your show in an email to me at rob@spreaker.com - Spreaker Blog Topics: http://Blog.Spreaker.com Here is what have on the show this week: -5 Steps to Creating a Podcast Budget -The Interview: Tom Webster, Senior Vice President, Strategy and Marketing, at Edison Research -Podcast Review of the Week: Out of the Shadows Series by Shane Waters -Featured Podcast of the Week → Halli Casser-Jayne Show - A terrific Politics and Entertainment topics program -If you want to send me an audio promo for your show, I would be happy to play it on the show. Just create an MP3 and give me a brief description of your show in an email to me at rob@spreaker.com - Podcasting & Spreaker’s Events Calendar On the show today: -5 Steps to Creating a Podcast Budget It’s a myth that setting up a podcast needs to be costly or expensive (of course it can be!) but podcasting on a budget is totally achievable. Whatever your budget or level, you can make podcasting work for you -Understand Your Income Therefore step number 1 is to make a clear goal of exactly what you want to do with your new podcast. By defining the purpose of your show and its format (how and where you are producing it etc) will help you create the foundations of the budget you need to create. TIP: Always remember to take into consideration whether this is your profession or a hobby – how much you initially input will differ if you see this having cash rewards or not! Determine your fixed costs Next on your to-do list is to identify all of your fixed costs necessary for running your show. Based on your planning around how you’re going to produce your show, you’ll need to do some research what options there are for your show’s needs and requirements. The things you need to take into consideration are items like your host platform, microphone. -One of the main fixed costs (your host platform) can be kept to a minimum, by choosing free or low-cost podcast hosting platforms such as: Free getting started plan options. TIP: Make sure you haven’t missed anything by taking a look through past bank statements and tick off everything in there. Identify your variable (and one-off expenses) Variable costs are those which are necessary for your business to continue functioning but change from month to month. And, if this is the beginning of your podcasting journey you’ll also need to include your one-off costs – money to cover your basic equipment: microphone and headset and also some $ to create some awesome cover art (we’ve written a guide to creating great cover art, here). Wondering how to identify your variable costs? Look at what you’ve spent on office supplies, marketing / promotional costs or replacing old equipment over the last 6 months and calculate an average outgoing cost. About to start your podcast? Try and predict what you might spend (we’ve written a blog on launching a podcast you might want to take a look at) and use this to structure your budget for the first few months, once you’re up and running you can cross-check to see if your prediction is in line with the reality! TIP: Variable and one-off costs are usually the fun ones so they’re the most important ones to keep in check in your budget! -Make a rainy day fund We would also highly recommend incorporating to your budget a fixed amount that you put away each month as part of a contingency fund. Putting away a little bit of money on a regular basis will mean you never go into crisis when something unexpected comes up! TIP: An easy way to break down your money is the 50/30/20 method. Attributing 50% to your necessary items, 30% to the things you want and 20% to saving for the future and a rainy day! -Create your budget! Now’s the time for the fun, cr(cast)eating the budget! You can build it on paper, Excel or Google Sheets or try one of the many Apps out there. Hopefully, we’ve helped debunk the myth that starting a podcast isn’t achievable without stacks of money – whatever your budget there’s a way to do it and the big expenses can always be postponed till when your show has some traction and you start earning! https://blog.spreaker.com/5-steps-to-creating-a-podcast-budget/ -Podcast Review of the Week: Out of the Shadows Series by Shane Waters - Clip is from Part 16 : Interview with the Archdiocese of Baltimore (Part 1) discussing clergy abuse - Play Audio Clip from Introducing the show episode guest ----- Then Here is a clip from the investigative questioning https://www.spreaker.com/show/out-of-the-shadows_1 -Featured Podcast Show Of The Week: Halli Casser-Jayne Show - A terrific Politics and Entertainment topics program - https://www.spreaker.com/show/the-halli-casser-jayne-show_1 -Listener Comment - Allan Tépper about last week’s show: That was a great and educational conversation between Rob and Francesco. I hope for the next time, Francesco will have a much more isolating microphone. However, the content is great. -Podcasting & Spreaker Event Calendar The RAIN Podcast Business Summit: March 5th, 2019 - Unlocking the Podcasting Mainstream New World Stages, 340 West 50th Street, New York http://podcastbusinesssummit.com/ Podfest Multimedia Expo in Orlando is Coming Too in March 7-9th, In Orlando - PodfestExpo.com NABShow.com - Las Vegas - April 6-11th, 2019, Voxnest and Spreaker will be there in force with a booth again this year. -Interview The interview is NEXT with Tom Webster, Senior Vice President, Strategy and Marketing, at Edison Research Topics: The new 2019 Edison Research/Triton Digital Infinite Dial Podcasting Research is about to be released on March 6th, I will be at Podfest in Orlando that day - tell us as much as you can about the new research that is coming? Live webinar, which will take place on Wednesday, March 6th, at 2 PM Eastern. We will be streaming the results live online, and the complete presentation will be available at edisonresearch.com Register for the LIVE Webinar here - https://www.eventbrite.com/e/the-infinite-dial-2019-registration-54549026607?aff=edisonsavedate I know you cannot yet share any data from the study, but give us your thoughts on where podcast listening is today as opposed to just a few years ago? Based on the trends in the research is listening growing faster over the past couple of years as we have seen more new content get created? I have read you saying that Podcasting needs more - high quality “Crap” content to grow faster - can you explain that? I read your article on Spotify, Music and Podcasting - The meteor is coming - to destroy the current open podcasting earth? Let’s talk about Spotify and the recent purchase of Gimlet and Anchor for some large dollars - those dollars signal a few things: Podcast Industry potential and revenue growth or cost savings to music streaming platforms? Increased audience growth, better tech and better and more content investment Why do you think Spotify is aggressively moving towards Podcasts - is about cost savings fewer music royalty payments as Podcast listening goes up or is that the whole story (Original Video Series? With Gimlet buy) Tom you think “Music” in podcasting is the key to “FASTER Growth” it seems - more revenue for music artists and podcasters plus music platforms. These coming music podcasts will likely be only on these music streaming platforms, not in the open podcasting world - thus will these really be podcasts? The music licence owners will not like downloads and this content will be streaming only. Given my understanding of how music podcasts will work - it is not really a threat to podcasting as we know it today as we are talking about new music shows on the music streaming platforms that are not really podcasts. Key is the “Download”? Women in Podcasting - the gender gap in podcasting is closing - Why do you think this is happening --- Listening and Hosting/creating - 3% growth a year, seems slow, but steady https://www.edisonresearch.com/women-podcast-listeners-closing-the-listening-gender-gap/ Spreaker/Voxnest Links: https://Voxnest.com http://blog.spreaker.com http://SpreakerLiveShow.com https://Spreaker.com Email: rob at voxnest.com Send Questions and Comments to: Twitter: http://twitter.com/spreaker using #SpreakerLive Twitter: http://twitter.com/VoxNest Twitter: http://twitter.com/robgreenlee Twitter: http://twitter.com/alexeum Tech Support: support at spreaker.com