Mark Cuban has out an appropriately critical column today about podcasting. Speaking from his experience as a pioneer in streaming video, and as someone with a nose for making money, Cuban has this to say about the financial prospects for podcasting:
Podcasting is hot. Podcasting is cheap and easy. Podcasting can be fun.
Creating your own podcast and trying to make a business out of it is a mistake.
Unless you are repurposing content from another medium, its will be rare to find anyone making money from originating podcasts.
Talk Radio Shows repurposed from radio to a podcast. No brainer. Its cheap and easy. Repurposing industry specific information from tradeshows, speeches, product presentations for employee or customer education or as sales support. No brainer. These are just extensions of existing content into a new low cost medium.
For those who are tying to jump on the podcasting bandwagon and create a “hit” podcast that you plan on selling advertising in, its cheap and easy to do, but even with Google Adsense for RSS its going to be really tough to do it as a fulltime job and make minimum wage back.
Podcasting is right where streaming was about 10 years ago. Before you dive into podcasting as”the next big thing”, you would be wise to do some homework on how the streaming industry evolved.
Try to find any of the many that created original content for PSEUDO.com , TSN , EYADA.com, Broadcast.com and others that i have long forgotten.
There is a good chance that their history is your future.