'Big podcasting' doesn't want you to win. And that's why you think your stats are so 'low'.
Neal Veglio
Podcast consultant and growth strategist. Guaranteeing ideal targeted listeners. Is your podcast stuck in an echo chamber? Let me help you. Podcasting 'OG' (since '01) & host of "The Podmaster" available on all apps
(This is a shorter, more quickly to-the-point, LinkedIn-friendly version of my longer article here . I mean, I wouldn't want to keep you from mindlessly scrolling through selfies and vacuous platitudes for too long, would I?)
Having been in the podcasting industry since the early 2000s, I've witnessed the evolution from the cottage industry 'nerdfest' of manual RSS feed creation to the sophisticated nearly-two-billion-dollar industry we have today.
And as much as I'll probably get burned by some of my big podcasting peers for saying this, it's time to do so.
Because understanding the true landscape of podcast stats is crucial for the future of our space.
And the preservation of the still highly important 'indie' collective.
A (VERY) Brief History of Podcast Stats Measurement
Podcasting started as a rudimentary process.
Early podcasters manually created RSS feeds and hoped listeners could get their heads around the complex procedure of using 'podcatcher' software.
The stats were basic, with platforms like Libsyn offering some limited insights.
Apple’s iTunes began indexing podcasts in 2005, which was a game-changer, but accurate listening data remained elusive.
The emergence of this third-party hosting in 2004 simplified podcast publishing but did little to enhance the listening experience. And along with that, analytics. Around 2006, podcasting was driven by passion rather than numbers, as detailed analytics were virtually non-existent.
Current Podcast Global Rankings
Fast forward to 2024, and the scenario is vastly different.
Podcast stats have become a central focus, driven by the need for monetization and advertiser appeal.
The Interactive Advertising Bureau (IAB) standards now define a 'saleable download', setting a high bar for podcasters aiming to attract advertisers.
Here’s how the global podcast rankings break down based on IAB’s stats:
To qualify for significant ad revenue, a podcast typically needs at least 5,000 IAB downloads per episode within 30 days.
This threshold places podcasts in the top 10%, a challenging target for most podcasters.
I know.
Not a frickin' chance, right?
The Misleading Nature of Podcast Stats
'Big podcasting' often pushes these high numbers to discourage competition, suggesting that monetisation is way out of reach for smaller podcasters.
However, the truth is much more nuanced.
While these numbers are accurate for attracting major advertisers, they aren't the only path to monetisation.
Some of you will know, if you've been following me for a while, that my company, Podknows Podcasting , advocates for treating the podcast as a marketing tool, rather than the product.
The podcaster is selling themselves and treating their podcast as the platform to do that.
This is without doubt the quickest and simplest route towards profit that any podcaster can take.
But still, even though I excel at this, many of my consultancy clients still want to grab ad and sponsor revenue for their podcasts.
And here's where I'm dropping a truth grenade that big podcasting doesn't like to people pulling the ring on.
You don't need a top 5% podcast to grab revenue
Podcasters can leverage smaller, engaged audiences to attract niche advertisers without relying on agencies.
While having a massive following definitely opens doors to significant advertising revenue, it’s not the only path forward.
Smaller podcasts can still generate income through various strategies tailored to niche audiences and unique content offerings.
And part of how you can achieve this involves a change in your mindset, as a podcaster.
The lie you're believing
The numbers we're being told we need to achieve to get an invite in the elite club of successfully monetised podcasts is a lie.
To recap, the suggestion from 'big podcasting' is that we need to be a global top 5% podcaster with more than 7000 downloads per episode within 30 days, if we want to make da cash monies.
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I want to just reiterate this because it's important to do so.
The language being used is that 7500 downloads makes you a top 5% podcaster, meaning you're better than 95% of all the other podcasts out there.
What if I told you that the true number of downloads you need to become a top 5% podcaster is actually far lower?
What would you think if I were to suggest that actually, to be considered a top 5% podcaster, you only need slightly less than half that number?
And that this alone would be enough to get you in the building of those ideal advertisers you dream of working with?
Well, whatever you'd think, the agencies don't want you to think it at all.
Less money for you means more money for them.
They like the idea of you just continuing to endlessly and aimlessly churn out content, week after week, with no real end in sight.
Especially because the higher you believe the bar to be, the less likely you'll be to actually try and reach it.
Without wishing to bog you down with detail, this graph shows that the data we're being given is vastly inaccurate and outdated.
If you'd like to learn more about why, I invite you to read my full article on this, here .
The truth is, in order to really compete with the big podcasts and get your slice of the revenue, the price of entry is not beyond reach.
In fact a short term monthly investment in working with a specialist like me to help your growth could be all you need in order to cover the cost of your podcast's future.
But you need to be willing to have the right conversations with the right people.
And to do that requires a mindset change.
Pssst! If you want to find out more about how I help people with the growth end of things, you can check out this previous article I posted.
The British Podcast Awards is closing to entries - but should you enter?
Tomorrow night is the deadline for entries to the British Podcast Awards .
I used to be a judge for this.
Why did I stop being a judge?
Because what was once a lovely little genuine event that cared about offering coverage to the 95% of podcasters that represent this space, fell into the trap of selling out to 'big podcasting' and now ignores actual talent in favour of revenue.
I find the cost of entry to be very prohibitive, and even if you're lucky enough to make the nominees shortlist, you'll be stressing out about the exorbitant cost of attending on the night.
That said, if you've got more money than sense, don't mind feathering the pockets of a self-serving corporate publishing house (oh hai, Haymarket!) then by all means, do enter.
Just be mindful that if you do, the chances are that regardless of whether you're voted in by the problematic judging panel, someone higher up may overrule and you could be put in the 'not enough social media followers to give us free PR' pile anyway...
Other podcast episodes from clients and friends of Podknows Podcasting that you definitely want to check out!
Katie ?? McManus offers a useful guide on how to get the best out of LinkedIn as a business owner handling your own marketing in Weeniecast (Business Strategy For Weenie ADHDpreneurs) :
Colin True has the latest headlines from the world of outdoors in Rock Fight including some fascinating insight into the Baja surfer tragedy.
Michelle J Raymond talks with JP Hightek about how to make your B2B brand stand out on socials in B2B GROWTH CO - Get Your Business Active on LinkedIn?? for Growth podcast.
Want specific help with your current or future podcast?
Great news.
I can help with that.