For today's discussion, we need to be clear in what we are talking about when it comes to “YouTube Podcasting”:
- We are talking about actual video not a static image video
- We are saying in this example Podcast = Audio Podcast.
Two Sides of Every Coin
One of my favorite quotes about his is from the co-creator of podcasting, co-host of the No Agenda Show Ada Curry said, “Not every book needs to be a movie.” That's a great point.
On the other side, Justin Beber, Sean Mendes, Ariana Grande, Justin Beber, Kate Upton and other were all discovered on YouTube.
You're Not Joe Rogan or Jimmy Donaldson
Joe Rogan started in 1988 and entertained an audience for decades before starting a podcast. Check out my “How to Podcast Like Joe Rogan” video. Jimmy Mr. Beast Donaldson spent his childhood learning YouTube at times frame by frame. So step one of doing a show like Jimmy or Joe is to BE Jimmy or Joe. I would recommend being yourself.
Open Video Podcasting Compared to YouTube Podcasting
There are 15 podcast apps that will play an open video podcast delivered via RSS. AN additional 21 apps will play the audio of that video. When you have a “video podcast” on YouTube it goes to YouTube and YouTUbe music.
By Using Your Phone You Save Thousands of Dollars in Video Equipment
Starting an audio podcast costs around $260 for equipment and then $55/month for hosting and remote recording.
A video podcast that utilizes the phone in your pocket will run around $340 to get started and $40ish per month for remote recording.
This is WAY different than the early days of podcasting where a DSLR camera would set you back quite a bit. Now, while still expensive, the Sony ZV-E10 II is around $1000, is much less expansive for the feature set than say five years ago.
Competition Broken Down
4.5 million total podcasts, with 358,000 being “active” with a show in the last 30 days. source
2.5 billion viewers on YouTube with 65.3 million creators (source1, source2 )
This means that for every creator, there are 564 Listeners (on audio apps) and 38 Viewers (on Youtube)
Completion Percentage (a study of one)
I do a show called “Ask the Podcast Coach” every Saturday from 10:30 AM ET to noon.
The BEST completion percentage on YouTube is 34%
The WORST completion rate on Apple Podcasts Is 73%
This is with the same content. One as audio, and the other as video.
What About the YouTube Aolgorithm?
The YouTube algorithm is an AI-powered recommendation system designed to put the best and most engaging content in front of YouTube’s users.
The algorithm is constantly changing to understand the preferences of each user. Preferences and engagements inform the algorithm what a user wants to see more or less of. (source)
What About the Audio Algorithm?
People often complain that there is no “Discovery system” in audio podcasting. Yet, Joacobs media and other reports say over and over that friends and family are the #1 ways podcasts are discovered. So if we look at that:
- Friends and family know you well
- Recommend things you should like based on your history of choices
Isn't this the same as the YouTube algorithm, except instead of being artificial, this is actual intelligence?
My algorithm is called “Doug.” He's my older brother and is VERY GOOD at recommending things I would like.
I Make Around $5 Per 100 Views on YouTube
For ease of math, let's put that at $5 cpm or .005 per download
What Is Easier to Do?
If I sell a copy of my book Profit From Your Podcast and you buy it from me, I make roughly $12. At .005 per download, I would need to have 2400 downloads.
So what is easier to get, 2400 downloads or to sell one book?
Super Chats
On YouTube, they take 45% of the income that comes in. This is a minimum payout of $100. This is TOTALLY FAIR as they've paid for your storage and bandwidth. I received $129 in superchats on YouTube as I was livestreaming on my birthday (thanks to everyone). Of that $129 I get to keep $70.95. If I had people donate on a system such as Buy Me a Coffee, I would keep
$118.51 (a difference of $47.56)
Now, those super chats came in because I was live streaming on my birthday. Maybe the true power there is the live stream?
Some Read, Some Watch, Some Listen
I tried to explain this using audio, but the theater of the mind shut down, and that just needs video to bring the point home. On the flip side, a “talking head” video with two people doesn't really need to be video unless it shows charts. Another point is that blogging is still one of the better strategies for getting visitors to your site.
My Biggest Concern
I have had people come up to me with great idea for podcasts. When I asked them what stopped them from starting, they said, “I don't want to do video.” I tell them, “So, don't do video” and they are puzzled as the industry has convinced itself that you HAVE to do video. You don't.
By All Means Do Video
If you have the time, budget, and desire to do video, DO VIDEO (I would avoid Spotify video). Just realize you don't HAVE to.
