Podcasting is a continuously growing industry in media broadcasting but just like any other venture, not all who joined podcasting or pursue a podcasting related career succeeded. Podcasting can be done by anybody but not all can monetize or earn decently from it. In fact, there are thousand of podcasts now that are just published as a hobby or recreation.
Podcast competition is very stiff and so with the companies that provides services for podcasters. But I was inspired to what happened to Loomia, a primarily podcasting and videocasting resource company when it is launched last June of 2005. With Loomia, anybody can subscribe, stream or download podcasts conveniently. You can also rate media and get recommendations based on your ratings versus the ratings by other Loomia members.
But because podcasting is on rapidly growing stage at that time, competition is very high with bigger and more prominent companies like Apple (iTunes) that likewise introduced podcast support. Loomia, being a start-up is very affected as they are battling for a market share along with more than a bunch of other competitors.
Loomia though a start-up is very decisive. They came up with another business plan and immediately transform their operation to have more revenues and loyal clientele. They did not hesitate to change their business model from podcasting resource to a company that offers personalized media and content recommendations for websites.
But I am not suggesting podcasters to give up producing when their show is not earning decently. Perhaps, like what Loomia did, podcasters may also consider giving their show an overhaul or say, a topic or a format revamp. Do not be afraid to change or diversify from your original genre or show category. Sometimes, it is good to reinvent ourselves to discover or explore the other side of us. So if you feel that your show is just like all the other podcast out there or if you see that your listener statistics is somehow gloomy, gear up and give your show a face-lift.
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