Podcasts have taken a stand amongst the array of digital content and have reached record popularity. Not to mention, it’s only growing in both content and listeners every day! If you pull a random topic off the top of your head, it’s likely that someone out there made a show about it. This may make you wonder, is podcasting worth it in 2021?
Our daily lives focus on technology, digital content, ease of access. We could connect to others in meaningful ways with convenience. The good news is running a podcast is easily accessible and low-risk. At the same time, podcasting has plenty of benefits even though it’s low risk. For anybody wanting to start a podcast, we’re here to share these benefits with you from our experience running the Bois & Bar Talk podcast three years in.
Typically, starting a new hobby or pursuing a business venture requires funding that many people may not have available or feel they cannot justify. More upfront costs and monthly costs are a quick reason that will deter us from even starting.
A wonderful benefit of running a podcast in 2021 is the ease of access. Being honest, there are ways you can pay which will make your process smoother. Paying for your podcast cover art or opting for a paid premium hosting plan does make your podcast startup easier. But all of these costs are minimal ($30 for the artwork for us and $15 per month using Libsyn hosting). All of these are optional costs. You could even use free hosting providers such as Anchor if your budget is low.
When first taking the step to start a podcast, you can begin your journey using standards features on your smartphone or computer. There are easy upgrades that existing or new podcasters can make for their equipment, such as microphones for podcasting hosting, ranging from as little as $50-$100.
From our experience we use one Blue Yeti Microphone ($130) for the two of us. As time went on, we slowly invested in lights and camera upgrades because we prefer to do video as well. However, you could even use Apple headphones and your phone to make a podcast in 2021.
The creative expression alone makes podcasting worthwhile. The possibilities of content creation that podcasters can pursue are endless. Think about podcasting as a new form of movies, TV shows, and books. It truly is just another form of creative entertainment.
So far in 2021, more than 50% of American households are familiar with podcasts. The people that listen to podcasts typically check out more than 6 shows on average. It’s a real form of entertainment that’s convenient enough to listen on your daily commute.
You have the option to create a podcast based around a topic you’re passionate about. You can also focus entertaining your audience with comedy and stories. Here in Connecticut, we love beer and were fascinated with the amount of breweries that sprouted up over the last few years. We jumped into the beer niche, but we also dedicate the show to improvised conversation with each other.
As lifelong friends, we provide our audience with a relaxed show that feels like they are right there with us. Your expression is totally up to and podcasts give you the power to shape your show into anything you’d like. Now is the perfect time to share your passion and give value whether its’ entertainment or information.
Multiple Pathways to Profit
Whether the goal is to start a podcast as an enjoyable hobby or to create a business, you can make money with podcasts. The main ways podcasters benefit financially from their efforts are running ads, working with sponsors, or starting a Patreon. It is easier than ever to optimize advertisements and sponsors to the intended audience, increasing your podcasts’ profitability.
If your show is small, you definitely shouldn’t be discouraged! You will have some loyal listeners who want to support you no matter what. It’s always important to show your listeners how much you care. This will make your Patreon pitch easier which helps you get monthly income from your dedicated fans.
When were starting out, we also sent cold emails to the breweries in the area asking for some free beer or merchandise for sponsorships. We were shocked to see how many breweries were willing to help. For newer shows try thinking outside the box for ways you can collaborate with people related to your niche as well. Even if it’s not profit, anything helps in the beginning!
It is possible to make merchandise, digital products, or membership programs for dedicated audience members. It opens the door for you to stay true to yourself and create items that excite you.
Building a Community
Apart from providing financial and creative outlets, podcasters benefit from building a community or “family” of people who share similar interests and passions. People are craving ways to feel a connection to others outside of their immediate circle, especially in 2021, and podcasts can fill the hole. This sense of community is beneficial for the creator and the audience. Developing a sense of community can drive passion and provide a sense of purpose that will flow into the content creation process and potentially other parts of your life.
All in all, it is easy to see that podcasting is far worth it in 2021. The world of digital content will only continue to expand as podcasts grow in popularity. The best way to determine the true worth of podcasting is to take steps to ensure that you and your podcast are taking advantage of the opportunities that the world of podcasting has to offer.
For anybody that wants to learn more, Rob and Kev from Bois & Bar Talk are always here to talk and give some pointers. Feel free to get in touch with us or check out the show to see how we do it!