On a recent episode of New Media Show, Blubrry CEO Todd Cochrane and Libsyn Content and Partnerships VP Rob Greenlee ask, “Is it time for podcasters to get paid like musicians?” Podcast Hall of Famer Dave Jackson has done the math on what podcasters earn with 500 downloads per weekly episode.
Across major platforms like Spotify, Apple Music, and Deezer, the results aren’t stellar. Is it fair that musicians, but not podcasters, are paid for content? Jackson confirms, “Musicians have got the short end of the stick in almost all business dealings. “Are podcasters following in their steps? It sure seems that way.”
The sentiment has been raised as well by Pitchfork, Hot Pod, and others. Earlier this year, Kristin Westcott Grant of Forbes pointed out comments by Spotify’s former CFO, Barry McCarthy. It's no accident: “The bigger percentage of podcast content in our mix, the bigger the margin opportunity to be had.”
iHeartRadio has announced a “search for The Next Great Podcast.” Along with content creation platform Tongal, the audio giant is seeking pitches from up-and-coming creators. Of 10 selected to produce pilot episodes, one fan favorite will be developed into the next big thing on iHeart’s podcast network.
According to a company post, creators must “submit a short synopsis and treatment that describes their podcast idea, along with links to past work and an optional audio trailer and pitch video.” The global contest is open to ideas of any genre, and the 10 semifinalists will be awarded $1,000 each toward a pilot.
Broadcast veteran Dan Patrick will lead the panel of judges, all of whom are podcasters. “This is a passion project for me,” Patrick says. “There’s so much great talent out there that hasn't had the luxury of a head start from a major media company.” Applications will be accepted until Thursday, August 27th.
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