Long Tail Thoughts
Trouble In Paradise
Unfortunately, the increasing "infringement" on the Podcasting landscpe by the MSM is troubling for quite a few. On the one hand, it's understandable that many want to hold on to the yestermonth and keep it a few people chatting back and forth on the new wire. Realistically, it doesn't really matter at all.
MSM is uniquely positioned to bring this content to the world - they already make it. The expectations for quality and professionalism are both set and maintained by them in a very significant manner. The thousands of new voices are facing a difficult chasm to cross, be unique in the way you are or follow the lead of MSM and mimic their style. Don't believe me? Take a look at what the quick risers sound like, what they are doing, what they are using. You'll see it's not just fun and games anymore.
Long Tail Approaches
For the past few months, I have been explaining to people that the land of opportunity, in my opinion, is in the middle. What middle? The inflection point where MSM meets CM, as opposed to on any other side.
Let's consider the three approaches that could be taken to monetize podcasting:
Top-Down Approach
It's easy enough to concede that MSM has the money and, hence, will come to rule the medium. If we were talking about a product that exclusively lives in the spectrums that they controlled, I would certainly agree. But that IS JUST NOT THE CASE. As I've noted eariler, they do have an uncanny ability to dictate set the expectations of a very large segment of the population, but as we're seeing more and more, that's not going to be enough in the long term.
Regardless, since the MSM has existing relationships in place for marketing, advertising, business development, etc. they will undoubtedly make use of podcasting as a slimline revenue generator or a loss leader that maintains mindshare amongst the general population.
This approach is definitely scary for the little guy that's trying to make a go at it. It also has absolutely no meaning to the person that's doing this as a hobby, has zero or minimal fixed overhead, and does it for love. As Doritos said it best, "Crunch all you want, we'll make more."
Most importantly, if you are NOT in the MSM already, don't bother trying to get in there. The Podcasting process, as it stands, while convoluted, is not that complicated for anyone that wants to do it. Clear Channel doesn't need much help producing MP3s. Of course, many corporations will also pursue this channel and bring in "pros" to assist, but the opportunity is limited at best.
Bottom-Up Approach
Coming from this direction seems like the best way to go, when you take into account the grassroots nature of Podcasting. Why not provide a suite of tools and services that make it possible/easier for the everyday person.
Sounds good in theory, but it's harder than it sounds. In the last 9 months we've seem all manner of tools, services, directories and the like launched that attempt to do just this. Are any of them runaway successes? Hardly. Will many of them see their markets dried up by offerings from larger companies (*cough* iTunes 4.9 - all your pods are belong to us).
The real problem is that making something complex simple, well, it's a really big pain in the ass. Getting adoption from small audiences is quite possible, but is it sustainable? If it's just you, with your day job to support you, most likely. If it requires a team of programmers to develop your system and support it, then the games a little different, maybe even a lot. And don't forget the leagues of offerings that will be donated to the community at large, for no cost that all cut into your ability to survive.