Entrepreneurs-Journey.com

Wharton: “The business model for podcasting will be similar to other forms of media — in some cases, advertising, in others, charging for content, or some combination,” he says. “And in many cases, people will do it for reasons other than direct monetization, just like much of the web. It will depend on the publisher and the content. I wouldn’t venture a guess right now whether [advertising or charging for content] will be more prominent or profitable.”

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It disappointments me that regardless of how cutting edge podcasting might seem the ideas on how to monetise the media are very oldschool - advertising and subscriptions. It makes sense, radio, the father of the Podcast, functions on an advertising business model. The process of podcasting is quite simple in essence and that is why it succeeds, allowing anyone to become a radio star from their home. Logically the ideas on how to make money from a podcast are just as simple, so they are accessible by the everyday podcaster.

I expect in the near future that the most popular podcasts will be interrupted by “and now a word from our sponsor…” or more covert product placement with podcasters recommending products or services in exchange for a nice endorsement cheque.

I wonder though if any innovators out there will think of other ways to exploit podcasting for profits? How about market research - collecting data on podcast listeners to be sold or leveraged by other companies. I’m sure the technology has the potential to return detailed, saleable statistics. But could this ever be realistic for the average podcaster to consider? Maybe if services like Feedburner provided more detailed statistics on listeners/subscribers that would allow the average podcaster to know exactly what sort of market demographics they are reaching.

Perhaps podcasting will never be a multi-billion dollar industry, but if it allows your average geek to get an audience from the comfort and anonymity of their own home we might gain access to some bright minds that may never have exposed themselves or even had a chance to demonstrate their experiences and intellect using traditional media. Again this is the long tail in effect as technology allows people to become a big fish in a small pond.

I for one intend to see how far this technology takes me.

Yaro Starak