Podcasting: Too Diverse To Fail?

Podcasting: Too Diverse To Fail?

Podcast Pontifications

The next few months are looking pretty rough for podcasting. And just about every other industry. Historically, podcasting has proven itself to be rather resilient. But there are lean times ahead. Are you prepared? 

#podcasting

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Everything just looks... bad right now. War in Europe. A down market. High inflation. Personal liberties revoked. Even crypto is tanking. So to ask the question outright: can podcasting survive the coming storm? 

Yes. But not because it's too big to fail. Because podcasting is too diverse to fail.

First, some good news: I'm stoked to welcome Tom Webster to the Sounds Profitable team. Both Tom and Bryan share in my commitment to make podcasting better, and you're going to love what we're cooking up. OK. Back to the bad news:

I don't know a single serious podcaster who isn't looking at the world around them and wondering just how their world will change in the coming months. Me included.

But I'm convinced that podcasting will survive simply because I don't see podcasting, or even podcasters, as a monolithic group. But that doesn't mean all podcasters will survive. Candidly, I think "big podcasting" will face the brunt of the onslaught, with casualties expected. 

Faced with financial pressures, businesses start cutting costs. And one of the first line items to be cut is always advertising and marketing. And podcasting is often under that umbrella. 

If you're getting paid to run ads on your show, you may see some of your advertisers pull back. So start having conversations with those advertisers now or your agency rep now. And be ready to be flexible and creative.

If you're pursuing paid campaigns for the growth of your show, start talking to the other shows, sites, and services you advertise on to see what their plans are. And watch your performance metrics!

If people or companies pay you to podcast on their behalf, start talking to your clients and help assuage their fears. And if you get the impression their commitment is wavering...at least you know ahead of time, right?

If you work for a company in the business of podcasting, start talking to your bosses. Don't expect the CFO to lay everything out on the table for you, but it never hurts to ask. Gently, though.

None of us know how this is going to play out. But it will play out, one way or another. Keep your eyes open. Plan for the worst but hope for the best. The coming recession won't kill podcasting, and I hope you, your show, or your services make it through to the other side.

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