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$9 Million Dollars Pour Into Podcasting

The people who are gaining the most from podcasting, Adam Curry and his business partner, Ron Bloom, scored a big win of $9 million dollars from investors. That's enough money to make both men very happy, and to pay the way for tremendous publicity. Next step will be to see if $9 million is enough to make podcasting more than the hype it's been over the past year.

Watch the online video (linked below) as CBS MarketWatch's Bambi Francisco interviews the two golden boys of podcast. See if there isn't some stretch in imagining podcasting with 100 million listeners (The missing operative word here is "active."), which is a far cry from the few million who have done it to date.

There's one particular item to address as we watch $9 million being thrown away: Podcasting is the automatic downloading of an audio file. This needs to be explained because we're talking about getting 100 million persons to use automated audio downloads via RSS feeds. That's not likely.

Podcasting is being positioned as a sea of quality programs waiting for your ears. Curry and Bloom expect to make money from guiding audiences through the listing of programs.

In reality, non-corporate podcasting is a pool of terrible production and equally-poor content that has a "gee-whiz" image because it's new. As Bambi Francisco points out, 87% of today's internet users don't know what podcasting is. Ron Bloom considers this as pointing to podcasting's potential for growth; I'll position it as a drawback. (It's hard to get large numbers of people excited about doing additional things, like learning how to set up a podcast download).

Watch the interview through the link below. When it's done, ask yourself if these aren't two imaginative guys targeting millions of dollars through investors who are chasing a dream. Also ask why we don't have tens-of-thousands of web sites making big money today, as was forecasted ten years ago.

The wealth for web sites, as it is/will be for podcasts, remains with large companies. There won't be ten individuals making fortunes off of podcasting in the future. But, in the short term, Ron Bloom and Adam Curry will do just fine.

Related Article:
CBS MarketWatch - video
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Posted: 12:54 8/23/2005

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