So some months back James Archer of fortymedia.com and I sat down for lunch down in Tempe. I asked the question “How can we monetize podcasts” and by the time the bill came (which James picked up, what a nice guy), we had an idea on how to assemble advertising into podcast streams. A few months later fruitcast.com was born.
Now I did not have a direct hand in producing the application, I was just an idea guy. But man it juices me everyday to know that a little bitty piece of that fruit is mine. Advertising for Podcasts is a revenue channel that is growing, and will continue to grow.
Advice to all: Be the first to act. Execution is everything. Tony Robbins says Massive action. I took massive action by calling a competitor and suggesting lunch. James took massive action by working his tail off for a few months to turn a lunch conversation into a viable business idea.
With the recent rash of Yahoo! buyouts. It would nice to see a dividend from a lunch meeting pay so well.
A great idea and I’m sure these networks are going to spring up very quickly. One that could be interesting is http://www.podcasterads.com. I relies on podcasters read the ad copy during the podcast similar to a radio sponsorship. We’ll see if that approach works.