Podcasts are proving to be a profitable venture for companies. Thus, the scramble has begun to find the next big sensations. While some podcast-production companies are looking for a staff to put together a bunch of great shows, others are mining the world of independent podcasters.
The companies behind the Racket App and the Stir App recently got together to help independent podcasters who aren’t getting the kind of sponsor money big shows receive via the Podcash campaign.
Austin Petersmith, the CEO of Racket, said while the idea of giving away $100K to podcasters is a marketing plan, they’ve created it with more of a goodwill air. Thousands of podcasters applied, and recently, some were awarded between $250 and $5,000 in sponsorship money. In return, Racket and Stir hope those podcasters will throw some love their way on their shows.
One of the hardest things to do with a podcast is spend money when there is no revenue. An extra $250 to $5,000 goes far, as it’s enough to create a website, transcribe old episodes, invest in a new microphone, or perhaps fly somewhere to interview someone in person.
And that’s not all.
The Google Podcast Creator Program by PRX has an accelerator program for independent podcasters that actually pays $15,000 to help podcasters focus during the six-week training period.
PRX is behind some of the most amazing podcasts out there, like This American Life, The Moth, TED Talks Daily, Welcome to Night Vale, Ear Hustle, and Snap Judgement. (Incidentally, Glynn Washington of Snap Judgement was on the cover of Podcast Magazine’s premiere issue.)
The training program is designed to help mid-career podcasters place renewed focus on business development, audience growth, video strategies, monetization, and long-term sustainability. And with a $15,000 stipend, it’s surely enough to grab your attention.
For bigger companies, $15,000 might not go far. The folks at Pod Fund are looking to invest $25,000 to $150,000 in podcast studios (and high-potential creators) who have proven their intentions in the podcast space with a track record of shows, evidence of traction, some revenue, and an idea of how that revenue might be used.
But it’s more than just an investment. Pod Fund matches its companies up with a peer community of podcasters, where the uninitiated can learn more about what’s working in the space now. They also offer a network of advisors to help build a sound strategy for growth. In addition, they have a network of marketers, sales execs, and legal and financial professionals to meet each group’s needs.
Finally, Hubspot has an accelerator program that helps move creators from seed to Series C funding. And with the large Hubspot Network, creators get cross-promotion opportunities as well as speaker coaching, music production, and marketing and operations support.
Podcasts in the Hubspot Podcast Network grew an average of 76% since joining in 2021, compared to the industry average of just four. Shaan Puri, Amy Porterfield, and The Bizbros are just a few of the podcasts in Hubspot’s network now.
Growing a podcast doesn’t have to be a boot-strapping process for which you use money from the ashtray in the car to power the whole enterprise. For the first time in the history of podcasting, the environment is presenting many opportunities.
You just have to look for them.
July 2022 Issue