The Future of Podcasts is in Podcast Networks

Podcasts are seeing a meteoric rise in listenership. That rise in popularity has attracted anyone and everyone to host their own podcast. From people who have never held a microphone to established celebrities with massive followings.

What that last sentence means for us as independent and hobbyist podcasters is that future success lies in joining a podcast network. It will be the surest path to exposure and listenership. And while my podcast Freelance to Founder is a part of a network that we like, I don’t operate one that I want you to join nor am I recruiting you to ours.

Will there be exceptions to this? Of course. There are exceptions to everything in life. But there are two specific reasons I believe this is true.

1. Podcast discovery is broken

Podcast discovery is broken, even with the nice and tidy categories that most podcast directories offer. When I say ‘podcast discovery,’ I mean it in the most literal sense—where listeners can actually discover new shows without having to dive deep into their podcast app.

Open up your favorite podcast player on your smartphone, be it Apple Podcasts, or Pocket Casts, Himalaya, Castbox, Overcast (my favorite), or everyone else’s favorite, Luminary (I’m kidding). Seriously, go for it. I’ll wait a sec.

Do this as if you’re someone new to this topsy-turvy world of podcasting and pretend you want to find a show to listen to, to kick the proverbial podcasting tires. Navigate to the app’s Explore or Discovery section to select a category and begin exploring and discovering.

Oh boy. Yeah…those directories? Overwhelmingly, they feature the same old, same old podcasts produced by professional broadcasters and well-backed, well-marketed podcast studios.

Here’s an example:

Yes, the same podcasts that are featured in all of the Top 10 lists that we indie podcasters roll our eyes at.

What’s that? There’s a podcast called Serial that I should give a listen to? This American Life, you say? Sounds interesting. And—wait a minute—Joe Rogan and Conan O’Brien have podcasts????

Spotify thinks it has an answer, but even if they’ve got it right, it will take some time. Not sure about your stats, but I only see a small percentage of listeners coming from Spotify.

Also, there’s a new podcast player (Majelan) from a team in France that is focused on customized recommendations. And maybe you heard about the player app called Swoot, which aims to make the discovery experience more social.

So there’s some hope, but this is what we’re up against, indie podcasters. The directories of the major podcast apps, including the default ones like Apple Podcasts, feature what they think are the most trusted podcasts people should check out.

They feature the podcasts that have financial clout or an established broadcasting name or are hosted by names we’re familiar with.

This isn’t ethically wrong on the part of these podcast app creators, and it makes sense to an extent because Apple and the others can point listeners to shows they know have a fair amount of production investment behind them. But it’s why I think podcast discovery is broken. And the challenge is that your podcast won’t be casually stumbled upon within the apps.

If you’re determined to go it alone, you’ll have to financially (through advertising) or patiently and painstakingly grow your audience the old fashioned way, step by step, through connecting with your audience and via word of mouth. That’s the workaround. There’s no fast track for indie podcasters.

Joining an existing podcast network requires having an existing listenership. Banding together in niche or even general podcast networks gives us each a better chance at being discovered. Cross-promotion. Collaboration. Combining resources.

2. Podcast monetization is going to get harder

For most podcasters, sponsorship rates are tight.

As a point of reference, bookmark this link on podcast sponsorships and the CPM numbers you should expect by John Lee Dumas to read later. While you’re at it, do the same for this podcast sponsorships FAQ from the team at Midroll.

Do your math: If you get 1,000 downloads in your first 30 days, that’s a cool measly $18 in revenue for you, per JLD and Midroll.

And with so many new podcasts entering the scene, including professional broadcasters and celebrities, it’s going to get tighter. It’s an inventory issue, for now.

There are and will be more sponsors/advertisers getting into the game in the months to come. But not enough with deep pockets to give you the laptop lifestyle you feel you deserve as an indie/hobbyist podcaster.

I don’t say this to dissuade you from podcasting or trying to make money from it. Oh, no. Far from it.

Nor do I say this with the belief that sponsorships are your only path to monetizing your podcast. But my prediction is that being a part of a podcast network is the best path to driving awareness of your podcast, which you can then turn into revenue.

There is a greater likelihood of safety and success in numbers. In podcast networks. Are there additional issues you need to think through before launching your own podcast network? Yes. Dave Jackson covers them in an episode of The School of Podcasting from 2018.

The future is in niche podcast networks

The projections are that podcast advertising will be a billion-dollar industry in short order. But I’m certain you’ll see more and more podcast networks emerge to make it easier for both podcasters and advertisers.

Networks with a local focus. If your podcast is specific to residents of San Diego, why not collaborate and form a network with others focused on that market?

The Alberta Podcast Network is a perfect example of this. Imagine the live events you could hold, down the road, with live events, if you built a credible local podcast network.

Networks with a specific topic focus. Doesn’t it stand to reason that listeners interested in personal finance, or audio dramas, or true crime, or world history, are more likely to try Podcast #2 if they’re already listening to Podcast #1?

The Pharmacy Podcast Network is a great example of this, notwithstanding you’ve got to deal with Soundcloud. Bleav is the perfect example, meanwhile, with a focus on Los Angeles sports.

Networks with a specific audience focus. There are riches in the niches, they say (without a care in the world for how the French pronounce the word “niche,” but I digress).

Mission is a really good example of this.

I think you’re onto something if you form or join a network where the shows are aimed at a targeted listenership, like restaurateurs, entrepreneurs, the LBGTQ community, vegetarians, I could go on all day.

Podcast networks will unlock traffic and listeners, which we’ll be able to turn into raving fans, loyal listeners, and maybe even premium content subscribers. Your nimble marketing tactics to gain listeners don’t have to be in vain. Collaborating with others as a podcast network will be a tremendous opportunity for podcasters in the years to come.