But first, a quick message from Australian podcasters’ sponsors
Despite the fact that more and more of us are consuming podcasts every year, the industry will not see big profits until producers shift to subscription services. But are Australians willing to pay for it?
Australia might be in the midst of a podcast boom, but that’s not to say anyone’s making much money out of them, yet. Most podcasts produced in Australia (aside from the ABC’s) are supported by advertising, and even then, they’re not making huge profits.
The first truly high-quality podcast to achieve blockbuster popularity, Serial, didn’t make any money and relied on crowdfunding for its second season. Since then, the question of how to profit from the still-growing format hasn’t been resolved. The vast majority of podcasts that aren’t supported by public radio or legacy media rely on advertising, with some also running membership or donation programs. US for-profit podcast company Gimlet Media has included branded content and advertising across its titles, as well as selling some of its concepts for video development. One of Gimlet’s competitors, Panoply, managed to get its GE-branded podcast to number one on the iTunes charts.