Sitting in the PME afternoon sessions I had the opportunity to watch Paul Colligan of PodcastSecrets talk about the “7 Secrets of Monetization that Big Media Hopes You Don’t Figure Out”.
As a summary, here we go:
– You are the media
– Big Media is Big Business
– Always Improve/Never Invent
– It Changes when you stop thinking like a podcaster and start thinking like BIG MEDIA
The 7 Secrets
- Content Rental
- Content Sales
- Product Placement
- The Paying Built-in Audience
- Ad Inserts
- Production Companies
Nutshell: Some people will buy what they can get for free
Nutshell: Some people will for premium content
Nutshell: Free content with profitable schwag
Nutshell: Someone will pay for access to your audience
The Paying Built-In Audience
Nutshell: Starting Over Is Silly, Use you existing audience
Nutshell: Boring, But Profitable – Use Podango and Gigavox
Nutshell: Other People’s Money isn’t yours
Michael Geoghegan started his presentation with “podcasting is dead”. He said that if you are doing this you really are in the digital media business if you are engaging and producing podcasts and new media.
Couldn’t agree with him more.
Now, off to find lunch and people to network with….
This morning the keynote with Howard Lindzon he talked about his sale to CBS for a reported $5 million dollars.
Here are some of his opinions about the show:
– motivation to build the show – everything out there sucked.
– what his end goal was – to sell the show
– about interviewing over 600 people to eventually find Lindsey – very boring until she came along
– approaching advertisers – most are just testing the waters and he was making stuff up as he went along. Eventually, there were numbers to have a discussion about but he was still throwing numbers out there for advertising costs.
– on the sale – throwing the numbers out there and the negotiation was the best part for him.
– do you think people can make a living doing this? No, unless you really niche and target and understand who would benefit from it.
– it is all about the editing – you can go out and shoot wacky content but if it is not cut right, it will suck.
and finally, product placement and creative stuff integrated into the show has better impact that stupid 30 second spots.