So, I think almost as a lark, he decided to do his morning show that he was doing on Los Angeles Radio, out of his garage. They changed the format of the radio property. He was on a radio program that was owned by CBS at the time. So, he did podcasting as a joke, as a lark. He had a CBS that fired him and he was on radio, but he couldn’t compete with himself anymore. We began advertising on Adam’s show.Īnd he’s someone who got into podcasting because he had failed at TV. I read an article on Adam Carolla and - this was April 2010. We encountered podcasting just as a complete fluke, fall-out-of-the-sky thing. We owned a bunch of real estate on radio and got to where we were capped out and we’re like, “Okay, what’s the next logical extension?” Well, we were obviously spoken word, because it’s a host-read endorsement. Our systematic approach to how we advertise is such that we identify what works and what doesn’t, we place our dollars in that. Our style of advertising was to have the radio hosts in their particular drive times endorse a product or service that we represented, a client of ours. Our business is 21 years old and it began as a radio company. So, our business, a little bit of background on just how we got started and that kind of thing. Marshall, can you give us a quick primer on how podcast advertising works? When I’ll hear a podcast ad and either do or don’t take an action, what happens? How does someone get paid? You’re selling ads in some of those podcasts. Jacob, that has worked for you up until now. So we all understand one model, which is you hit “subscribe” to your platform of choice: Apple Podcast - there’s some Apple people here - Spotify, etc.
Is anyone here paying to listen to a podcast? Okay. Is there a business in podcasting? I think we all believe there is. We’re going to talk about the business of podcasting. We represent roughly a third of all dollars in the space and love it. We place a pretty significant amount of advertising in the podcast space. I am the founder and CEO of Ad Results Media. I’m a longtime print journalist and since none of us are sure print journalism’s going to exist much longer, I’m a prospective podcaster. I’m the CEO and co-founder of Pushkin, which is a new podcasting company that Malcolm Gladwell and I started in October.īethany McLean: I’m Bethany McLean. I’m going to have the panel here quickly introduce themselves, explain who they are, and what they do for a living. Your reward is about 45 minutes into this, if you have questions, you get to ask them your questions. We’ll tell you why you should or shouldn’t do it. Is that right? Who here does not have a podcast? Oh, all right.
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Welcome to podcasters talking about podcasting in the podcast studio to a room full of people I think who are all podcasters. You can listen to Recode Media wherever you get your podcasts - including Apple Podcasts, Spotify, Google Podcasts, Pocket Casts, and Overcast.īelow, we’ve shared a lightly edited full transcript of Peter’s conversation with Jacob, Bethany, and Marshall. I think there’s no reason why it has to happen in podcasting.” “The retargeting ads that chase you around like eye-blaster type ads, it became such an unpleasant experience that it spawned the whole industry of ad blocking. “Digital display advertising is one of the things that turned the internet into a misery, right?” Weisberg said. The group discussed the variety of ways to monetize podcasts with Recode’s Peter Kafka, with both Weisberg and Williams pointing out that podcast ads are unique in one important way: Unlike in other media, people seem to actually enjoy hearing them. Weisberg appeared on the latest episode of Recode Media, recorded live at South By Southwest, with Pushkin’s Bethany McLean (a journalist whose upcoming podcast will go behind Luminary’s paywall) and Ad Results Media CEO Marshall Williams. But, I don’t see them as one or the other.” “That is why at Pushkin, we’re extremely interested in the experimentation that is really starting to unfold around paid content models. But I think that long term to have a healthy content business, you have to have multiple revenue streams and you don’t want to be completely dependent on advertising,” said Jacob Weisberg, the former editor-in-chief of Slate Group who started a podcasting company called Pushkin Industries with Malcolm Gladwell. “We love the ads and we expect the ads to continue.
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But whether those people like it or not, it appears that some number of major podcasts are going to disappear behind paywalls as the nascent industry figures out how to become a real business. Luminary, a startup angling to be the “Netflix for podcasts,” recently tweeted that “Podcasts don’t need ads” - a claim that riled up enough people that Luminary quickly apologized and deleted the tweet.
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