Podcasting has been around for about two decades. It took a while to get off the trail. Now, however, podcasting has become a booming industry thanks in part to its growth during the pandemic.
According to a study published by PwC and the Interactive Advertising Bureau, the value of podcasting is expected to reach $4 billion by 2024. In the United States alone. Grand View Research forecasts global podcasting revenue to skyrocket to $94.88 billion by 2028.
These are exciting numbers for entrepreneurs looking to both share their knowledge and get paid for it. But, of course, they’re not the only ones who love the podcast. Many leading advertisers view podcasting as a valuable marketing and branding avenue and a way to generate leads.
So why aren’t more thought leaders, dreamers, and creators diving into the podcasting realm? It turns out that the world of podcasting can be a bit daunting to pursue. SquadCast co-founder and CFO Rockwell Felder understands why. However, he also believes that his company, which has just made significant feature updates, is helping to reduce these barriers.
Challenges of Starting a Podcast
It might seem like the easiest thing in the world to record yourself so the world can hear your views and ideas. But unfortunately, podcasting is much more complicated than just taking a video on your laptop or smartphone. When you podcast you have to think about what seems like a million factors.
For example, how will you ensure that your audio and visuals match? What if your visuals look grainy or pixelated? And if you want to welcome guests? How are you going to make sure they sound as good as you do? Oh, speaking of Polish, what is the protocol for purchasing microphones, headphones and other equipment? These questions don’t even touch on how to drive a loyal following.
With so many elements in the mix, many podcasters give up before they give podcasting a chance. Felder calls this phenomenon “podfade”. It’s a term that has gained traction in the podcast industry to explain the decline of podcasters who stop creating content. Podfade is not inevitable, however.
“People give up [podcasting] because it’s a difficult and lonely game, especially in the beginning,” says Felder. “The biggest challenge is that when you’re a creator, there’s so much ‘work to do’. Creators often don’t realize they’re what we call a micro media organization.
This reality is one of the reasons Felder founded SquadCast with Zachariah Moreno, who serves as CEO and CTO. They wanted to make the trip to try podcasting more doable and, quite frankly, fun. Felder admits that SquadCast doesn’t remove the need for planning, research, editing, or marketing. Still, he notes that his company offers a setup where creators can more easily build support teams and foster growing audiences.
SquadCast’s Innovative Solutions for Podcasting Success
What exactly makes SquadCast a unique resource for people interested in bringing their podcasts to life? Felder points out several solutions that have made SquadCast a standout solution.
1. An engaging and engaged community.
Podcasting can feel very isolating from the “star” perspective. It can be difficult to assess whether to try something new or to objectively consider the effectiveness of an episode. Those just exploring the field may find it hard to know where to start – and what early stumbles to avoid.
Its founders modeled SquadCast to help all podcasters, including new faces, with day-to-day problems. In addition to its popular blog, the SquadCast site includes engagement opportunities. For example, SquadCasters can access the SquadCast team and other members when they need help. Felder sees it as a key differentiator because it allows podcasters to see themselves as part of a supportive community.
“SquadCast’s mission is to amplify collaboration. This [updated] makes it easier for creators and their production teams to collaborate across the platform. Felder adds, “We’re creators too, and I can’t imagine doing it without a team. They help me look and sound better and develop ideas that I never would have thought of.
2. Studio quality recording.
When creators can bring their visions to life, they become more eager to keep podcasting. So it’s not uncommon for podcasters to come up with two or more podcasts once they get the hang of the experience. But, first, they must have the ability to produce quality podcasts that don’t sound homemade or “green”.
The SquadCast range of features includes saving all files both locally and in the cloud. This process preserves the integrity of sound and video for all speakers. For example, remote guests sound like they’re live in the studio as they’re recorded on their devices.
From the listener’s point of view, everything flows. From a podcaster’s perspective, issues like audio drift and similar headaches become nothing to worry about.
3. An updated studio with improved onstage and backstage roles.
While SquadCast has always offered creators their own studios, the next generation of SquadCast opens more doors. Backstage is a great example. The Backstage area is a place where non-participating producers, editors and guests can “sit”. They can monitor live recording sessions and even participate with comments via chat. Although the public never sees or hears them, they can contribute.
Take the legal professionals. Some guests may prefer to have their legal advisors available to answer questions. A lawyer can sit behind the scenes and silently contribute to the conversation. The lawyer is on tap but not a visible part of the episode.
Being able to customize their studios by identifying different roles for different people empowers podcasters. For example, each guest can be assigned a specific role and permissions such as file management, talent viewing, or admin. This ability to master the process ensures a more satisfying and focused product.
What does the future of podcasting look like in terms of trends? Felder expects media creation to grow. He concludes that marketers and advertisers will also begin to explore the use of podcasters as influencers: “There is unrealized potential for the medium.” With so many barriers to entry removed by SquadCast, would-be podcasters have little reason not to test the waters of podcasting.
Image credit: Harry Cunningham @harry.digital; pexels; Thanks!