On Friday’s show, Adam Curry gave part of his “Grand Vision” for advertising in Podcasting.
“I think the concept … if we re-create radio … and we come right back to the way radio charges (CPM) … anywhere between 5 and 25 per thousand … then we’ve failed as well”
I’m glad Curry wasn’t thinking people would quit the day job on CPM advertising. I wish more would follow his lead.
This is the FIRST time I’ve heard this reality discussed. Thank you Adam. Yes, this medium will die a hard death if we focus on the CPM model. It also will prevent pretty much everyone from “quitting their day job.” – his stated goal.
Adam introduced this concept – “the concept that the advertiser would have to audition to sponsor a show …”
Interesting fact. Let’s put taste aside here and deal with one simple fact …
The Podcasts that pay the bills (allow people to quite the days jobs) will be the Podcasts that are worth many times more than any “traditional” radio show. This isn’t will Podcasting bring us the next Stern or Limbaugh – this is, will Podcasting bring us the next ad-supported HBO or Showtime?
They have to have value greater than anything out there for businesses to be willing to pay more to grab that value.
So, let’s stop the discussion of micro-payments and quarter Podcasts and dollar a month subscriptions and let’s move to a model that a) makes financial sense and b) let’s us produce content we’re really proud of – and that is worth the cash.
Update (1/21/2006): Curry makes additional comments on his hopeful conversion rate.