194: The 10 BILLION Dollar Industry - Running Your Podcast as a Business

EPISODE SUMMARYThere is serious money in podcasting, and you should be running your podcast like a business to capitalize on this. In this episode, I’ll give you insider tips and analysis so you can see how the big podcasts make the big bucks.HERE'S WHAT WE'RE DIVING INTO:00:37 We are in a 10 BILLION DOLLAR IndustryThe News is in, the Podcasting industry is nearing 10 Billion in revenue. These are the latest statistics just published!01:14 Treat YOUR Podcast like a BusinessDo you manage your podcast as if it were a business? If not, you could be missing out on some considerable money. I break down why you should take your podcast more seriously.02:22 Don't UNDERVALUE Youtube for Your PodcastsThese days, YouTube is the 2nd Most used platform for Podcasts. We talk about why you should leverage the growing trend of audiences watching their favorite podcasts.04:02 The Sponsorship Download ThresholdHow many downloads do you need to start making sponsorships? Well, I have the latest statistics right here and I don’t fully agree with them.07:35 My Favorite Sponsorship ModelNot all sponsorships are equal. In the best sponsorship deals, all parties end up profiting. I share with you my favorite types of sponsorships that I feel are fun, engaging and lucrative.08:25 Are Podcast Ads Dying?People will always skip ads, I do it and I’m sure some people here do as well. We discuss what that means for Advertisements in general and how that could impact your podcast.09:33 Engagement is the FuturePodcasts are forever evolving. Gone are the days of looking at downloads as a key metric. Engagement and watch time will be what sponsorships are looking for in the future. The question is, how do you prepare for it?11:12 Are You Building a Community for Engagement?Here’s the hard truth. If you’re not building an engaged community, you will struggle. We showcase some examples I’ve come across recently of strong communities and talk about what you can learn from it.RESOURCESJoin the Podcast(Her) Network: https://www.podcasther.com/Check out The B Word Blog: https://www.thebwordpodcast.com/blog/SUBSCRIBE & REVIEW:If you loved this episode, make sure to subscribe so you never miss an update. And if you feel inspired, please leave a review on Apple Podcasts—it helps more people find our community and join the journey.JOIN THE CONVERSATION:Have you attended a conference, mastermind, or retreat that changed your life? Share your story with us on social media using #TheBWord and let's keep the conversation going!Facebook: Podcast(H)erInstagram: Podcast(H)erLinkedIn: Podcast(H)erYouTube: Joanne BoltMentioned in this episode:The 7-Figure Podcast BootcampJoin us for The 7-Figure Podcast Bootcamp, August 28-29th! This LIVE 2 day experience with me is only offered once a year. The 7-Figure Podcast Bootcamp