Rob Greenlee and Sam Sethi have an in-depth discussion about new monetization models for podcasting, including micropayments, the value-for-value model, and using satoshis. They talk about platforms like Podfans that allow listeners to support shows via small payments, as well as broader industry initiatives like Podcasting 2.0.
Sam gives an overview of the value-for-value concept – podcasters set a value for their content, and listeners can pay that amount or adjust it up or down depending on what they feel the content is worth. This is facilitated by micropayments using Bitcoin’s smallest unit, satoshis.
Sam explains how his platform Podfans implements value for value using satoshi micropayments. Listeners pay per minute as they listen to episodes, rather than a flat subscription fee upfront. This gives listeners more control and transparency over what they pay.
They discuss some of the challenges around getting people used to using digital wallets and transacting in satoshis. The process can still be complex for average listeners. However, Sam argues that with time and exposure, satoshi micropayments can become as ubiquitous as sending an email.
Rob and Sam explore how value for value relates to Bitcoin and some of the controversy around cryptocurrencies. They agree there is still friction from governments who may see Bitcoin as a threat to state-controlled currencies and transactions.
The conversation shifts to how the podcasting industry can better market these new standards like Podcasting 2.0 namespaces. Sam argues the Podcast Standards Project needs more momentum and leadership to drive adoption. He suggests versioning namespaces like “2.0, 2.01, 2.02” as a way to differentiate apps supporting the newest standards.
They discuss whether big platforms like Twitter could potentially accelerate adoption if they build in support for micropayments and podcasting standards into their apps.
Overall the episode covers the promise but also the difficulties around getting micropayments and value-for-value models adopted at scale across the podcast industry. But both agree it represents an important shift in podcast monetization.
