Fact: The global audio/radio ad market is worth $65 billion.
Fact: CTRs (click through rates) for all ad banners in 2014 was 0.06% or less than 1 click through per 1,000 views.
Fact: CPMs (costs per 1,000 listeners) for some podcasts has reached $60~100 as is the case for Midroll media, whilst average rates of $20~45 for the rest of the industry, despite being lower, are much higher than ad rates in other sectors. Also, podcast listener response to ads has been highlighted as being "significant."
Takeaway: People seek out specific meaning from print media, not advertisements. Radio and podcast listeners develop relationships with the voices they hear. Imagine being in a relationship with Mister Rodgers over a podcast. Now imagine that after a segment that saw you cry, laugh and learn something new, he talks about product 'x' - a product he actually uses and loves and because of that he has decided that his listeners should also at least hear about how good it is - and personally vouches for the product. You would at least be curious about the product, right? I know I am, and this is an imaginary hypothetical. Relationships are valuable and are the conduit for meaningful advertisement.
Extra credit: If Mister Rodgers asked for his listeners' financial support so that he could produce better shows more often, do you think that in addition to buying a product he advertises to them do you think they would also be willing to support him? If you were his listener, and he simply asked that you send him $1 per month, would you?
Personal question: If you had a podcast about something that was interesting to both yourself and others, how much money would you need to be able to exclusively do the podcast for one year? $100,000 give or take?
Happy podcasting^^
