I knew this time would come, but I’d hoped to be ahead of it, not scrambling from behind.
Advertising has failed as a revenue source.
Years ago, back-of-the-envelope math suggested that ad revenue from our podcast could create cash flow beyond anything we’d imagined from such joyful work. But after numerous conversations, the reality set in: brands just don’t want to advertise on kids’ podcasts. COPPA regulations are primarily to blame. Meanwhile, YouTube kids’ creators make bank.
We attempted to solve this by joining networks, hoping they’d provide the scale brands look for. Our first network couldn’t sell a single ad over nine months and broke the contract. The next network promised significant results but managed only a small ad over the same period. We moved on. Another network had a novel business model which seemed viable. After eight months, they couldn’t secure a single ad, and they owe money.
Kids’ audio feels like the Wild West.
Certainly, our strategy and execution have been off. We produce more than most, and I’ve noticed that other shows of similar or smaller sizes can afford to hire help.
So, where do we go from here? This year has produced the most emotional turmoil I have ever experienced professionally. I’ve experienced stress and actually enjoy it at times, but this business is far more personal. Which is a venerability that can be unhealthy. I created a strategy earlier in the year that would expand our scope, but that seems unlikely, especially at the glacial pace at which we operate. I’m only one person; not every day is a productivity masterpiece.
On the brighter side, I do have a collection of stories being illustrated, which will be our first foray into print publishing, and our subscription audio continues to pay a living wage.
One thing I will stop doing is competing on impressions. Trying to grow downloads endlessly is a strategy we will no longer pursue.