Small Business Trends Radio

From Small Beginnings — The Future of Podcasting

PodcastingApril 23, 2006By

Anita Campbell and I started Small Business Trends Radio in November of 2004. At the time is was almost a hobby like experimental project to see if we could make it work. Could we get anyone to listen? Would anyone want to be a guest?

In the 18 months since that time we have learned a great deal and have even defined a first phase of a business model (how we make money), defined basic processes it takes to operate the business and evolved to the point of doing a new show every week. We have a discovered that there is an audience for our content ideas, there is a way to make money at it and most importantly what type of effort it takes to make it work.

So as we look into the future what will happen with the concept of ‘Podcasting’ how big will this thing grow and how do we take advantage of our early success in the industry. One study I found that focused on the future of Podcasting showed these amazing statistics:

  • 5 million Podcast users in 2005
  • Average user: 6 downloads/month
  • Average user: 6 hours/month
  • >20% listened via an MP3 file
  • Projected listeners in 2010: 63 Million

Wow, 63 million Podcast listeners, that is a large potential market that we can serve. Of course we believe the key to ‘The Future of Podcasting” at least for us is the content. If your content is good, listeners will like it and keep listening and wanting more. As they say, content is king.

When I work on business plans and market penetration I always like to set a goal of 1% market share. Lets see that would be about 50,000 listeners in 2005 and 630,000 in 2010. That is both a scary and terrific number. We are at about 25,000 listeners for the month of March so let’s say .5% of market share. Not bad, half way to an initial goal.

If you have ideas on how we can grow our market share or how we can bring you content that best meets your needs then leave us a comment. We are an ‘open source’ model for listener feedback and ideas.

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