The Podcast Namespace along with the Podcast Index started out as a new project in 2020 to preserve, protect and extend the open, independent podcasting ecosystem. Today it has grown into a whole movement of startup companies incorporating many of the new podcasting 2.0 features (tags) into their business models in order to build new services on top.
One key aspect of this new standard is the Value 4 Value (V4V) system, enabling podcasters to directly receive value payments from their fans in return for the value they provide through their content. Based on the podcast namespace specification, fans have the ability to stream payments, which can be scheduled based on a per-minute model or can be designated for specific moments within an episode, referred to as "boosts". In addition, an increasing number of Podcasting 2.0 apps allow for brief comments to accompany these boosts, known as "boostagrams".
The Value tag sets the ground for a new monetization model
Up until recently the owner of the RSS feed, i.e. the podcaster, could specify all recipients of V4V payments for a whole episode in the podcast value tag. All incoming payments are split automatically among the recipients according to a defined ratio. But what if the podcast episode contains content from other contributors? This is regularly the case in music shows playing songs from different artists. One single value tag per episode cannot fully respect the split for each of these contributors.
The Value Time Split enables real-time payment attribution
This is where the value time split shines. By adding a time and external content component, this element allows different value splits for a certain period of time by respecting the source. The latest innovation coming out of the Podcasting 2.0 initiative is essentially a combination of existing Podcasting 2.0 features such as
The Value Time Split in use today
Content creators are now able to be compensated as defined within their individual RSS feeds. Podcasts featuring multiple content contributors can now conveniently direct listener payments to the primary content originators, establishing a foundation for an equitable, contribution-driven payment model.
The stage is set for music shows to adopt this innovation. The Boostagram Ball by Adam Curry is one example and the first of its kind to allow contributors earn V4V payments from listeners. Adam plays a series of songs, each with its own value tag defined by the artist and creator of the RSS feed.
By allowing to reference content and value recipients across any podcast, the value time split rethinks content monetization in completely new ways. This innovation empowers music artists and grants them the capacity to receive payments directly into their pockets whenever their content is played on a different podcast, independently of labels and music rights organizations.
Apps for artists and publishers
Setting up an RSS feed for your content is the key component for making it accessible on podcast apps or music players. By adding a digital wallet (i.e. the value tag) you can now receive payments from consumers for songs, podcast episodes, videos or even blog posts thanks to the different medium types specified by the podcast namespace.
As a result, the value time split feature enables a new economic model driven by a direct relationship between consumers and artists.
This blog post was originally written by Moritz Kaminski from Alby. You can read the full post here.