Check out the VERY interesting graphic from CrunchBase above …
Why am I sharing this with you?
Because, as the Chairman and Founder of Liquor.com, I try to keep my finger on the pulse of what’s going on in the world of technology. And, given that we’ve raised over $12M in venture capital funding for the company, I’m also keenly aware of how VCs are investing their dough.
Venture capitalists are investors that I would place in the ‘smart money’ category. Not that other investors are ‘dumb’, but VCs spend an extraordinary amount of time researching their investment opportunities before investing dollar one and, when they write a check, it’s usually because they have meaningful confidence in the opportunity they have chosen to pursue.
Their expectations are to receive a SUBSTANTIAL return on their investment and we’re not talking single digits. We’re talking 100x or more.
So, as you review the graphic, what I want to draw your attention to is not the amount of capital recently invested in podcast startups ($82M), but the MULTIPLE that their investment has the potential to return.
Even at a conservative multiple of 10x, VCs believe that there is roughly a $1 BILLION opportunity in the podcast space within the next few years.
So… what does this mean for you?
It means that, if you’ve given thought to starting your own podcast, NOW IS THE TIME TO DO SO!
As more capital flows into the medium, two things are bound to happen:
1) More eyeballs and eardrums will find their way to podcasts as significantly more capital is allocated towards awareness, and
2) There will be meaningful advancements in technology that make it even easier to access shows.
As I continually preach, podcasting provides the single best ROI out of any marketing tool I have EVER leveraged in my 25+ years of being online. Nothing, and I mean nothing (not Facebook ads, SEO, Google AdWords, YouTube ads, etc.), provides more highly-targeted leads and allows you to connect on a deep, intimate level with ideal candidates for your products, programs and services.
One of my favorite sayings is from an ancient Chinese proverb — “The best time to plant a tree was 20 years ago. The second best time is today.”
I’m sharing this with you because I want you to embrace the medium of podcasting with this mantra in mind. Yes, you CAN get started with podcasting years from now, but you will miss out on significant opportunities if you delay saying YES.
As the medium continues to grow, new shows will have a harder and harder time being found. Hundreds of shows are being launched EVERY week and that number continues to grow.
Bottom line — Time is of the essence and there’s no better time than NOW to launch your podcast!
(Want our help doing so? Email Kelly@SteveOlsher.com and she’ll provide details.)