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Podcasting managed to survive a going-on-three-year global pandemic.
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But the podcasting industry is starting to feel those economic
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realities finally catching up to us.
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And that won't end anytime soon.
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Hello, and welcome to another Podcast Pontifications with me, Evo Terra.
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2023 is the year that podcasting has to pay.
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And by pay, I mean pay for itself.
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And by itself, I mean it has to make fiscal sense for the
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people writing the checks.
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Now, if you are a fiscally responsible person who diligently balances their
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books, each and every month, or pay period, whatever, and you make
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sure you have enough money to do the things you need to do and want
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to do in life, either as a business owner or just a productive member of
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society, this is not a shock to you.
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But read from the headlines from the last few months in podcasting and it's
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clearly a shock to some people who work in the business of podcasting.
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That shock is settling in now and promises to be with us for a very long
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time, and it's up to us to deal with it.
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Now, for those at the "top" and the "bottom" - I hope you heard the air quotes
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I put in there - this solidifying reality isn't really going to mean much changes
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in their day to day lives as podcasters.
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I mean, the well-established, highly-downloaded, and money-making
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podcasts will continue to do well as long as they stay focused on who
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they are for and why they are there.
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Right?
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And it's the same for the indie podcaster who's really not
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in this for fame or fortune.
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Okay, maybe a little fame, but certainly not much in the way of fortune.
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They're in it because it's something that they love doing.
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It's not economic gain they're looking for, so economic pressures
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on the industry of podcasting have less of an impact on them.
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No, it's those in the middle, those of us in the middle, in a wide range of
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skills and roles ranging from producer to service provider who are going to
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be feeling the side effects of this right sizing - oh, how I hate that
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phrase - and the pullbacks faced at the business level of podcasting today.
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Because things are different today.
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Look, I've got many friends and acquaintances who either run or work for
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small to medium size podcasting focused companies, and they're the ones who are
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telling me that things are different.
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Where it was easy to do things just six months ago, things ranging from
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raising money for launching a new service to green lighting bigger ticket
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productions, to snagging budgets from other departments to fund new podcasting
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initiatives, more than one person has told me that they're hearing, "No, sorry.
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Had you just asked me that same thing six months ago, I'd have
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said yes, but I can't now."
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And that world is gone, really, and I don't know when it's coming back.
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Now, I don't say these things to panic you.
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Now, if you, like many of my listeners, work for a large and
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established and profitable podcasting company, there's a very good
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chance you won't feel this crunch.
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And there are a lot of large, established, and profitable podcasting companies out
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there, from hosting companies to software developers and other service providers who
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service the industry and are doing well.
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But if you don't work for one of those services, like I don't work
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for one of those companies, then things could be quite different.
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And how well you, we, ride out the storm is dependent on a lot of factors.
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If I were a financial advisor, I'd probably tell you now
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was the time to diversify.
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But as it turns out, I am not a financial planner, and sometimes
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the best podcast companies are the ones that specialize so that may
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not be the best advice you've heard.
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Come to think of it, I really don't have good advice to give on this.
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So instead, I'll just end with this, hold tight, make the best decisions you can
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for yourself, and do your best to handle whatever it is 2023 throws your way.
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And with that, I shall be back next week - maybe?
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- with yet another Podcast Pontifications.
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Cheers!
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Podcast Pontifications is written and narrated by Evo Terra.
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He's on a mission to make podcasting better.
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Links to everything mentioned in today's episode are in the notes
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section of your podcast listening app.
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A written-to-be-read article based on today's episode is available at
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podcastpontifications.com where you'll also find a video version and a corrected
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transcript both created by Allie Press.
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Podcast Pontifications is a production of Simpler Media.
