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Joel Comm is here today to chat with me about if there is room for another podcast. He has a new podcast that is less than nine months old, yet he is having amazing success. This is because Joel is delivering content that his audience is hungry for.

We also take a look at the specifics of Joel's podcast. We look at how he is getting revenue and where it is coming from. This podcast is about crypto, and he is connecting a very specific audience to a very specific offer. The power of this industry is making solid connections the way that Joel is doing.

Tip of the Week:

Are you considering sponsorships for your podcast? If so, think about a sponsor that will still sound good in one year, two years, or later down the line. You want your sponsorship to sound like a strategic implementation of what you are trying to do. Add sponsors that tell a more complete story of where your podcast is going.

Is There Room for Another Podcast?

  • [02:55] Joel and I have known each other for about a decade. He has rebooted and gone through different products over that time, but he has always remained successful.
  • [03:05] The podcast we talk about today is not his first podcast, but it is an extremely successful podcast.
  • [03:25] Joel wrote one of the first twitter books called Twitter Power.
  • [03:59] The Bad Crypto Podcast started in July 2017. It was started on a whim as a case of opportunity meets action.
  • [04:48] Bad Crypto's average Spotify downloads are over 1000 a day. They have had half a million downloads in February. Since July, 3 million across the board.
  • [06:23] Before Joel and his co-host Travis Wright started the Bad Crypto Podcast a lot of the other crypto podcasts out there were kind of dry and over people's heads. They decided to take an approach that was more fun and focused on learning together.
  • [08:05] Joel tries not to listen to other crypto podcasts, because he wants to make sure that they keep doing something different and unique without having outside influences.
  • [09:30] The success of Joel's podcast is a combination of many things from timing to their unique content. Joel was slow to start working with crypto.
  • [10:30] Travis and Joel were talking about having a crypto podcast, and then they decided to make it a reality.
  • [11:07] They started their podcast with no idea that the big crypto boom was coming.
  • [12:25] They started using Spotify in September and their numbers just kind of tracked along with the numbers on Libsyn. They are in 190 countries worldwide.
  • [14:02] Joel shares his podcast monetization strategy. They are super transparent. One show is an ICO spotlight. ICO stands for initial coin offering. Companies get to come on the show and tell listeners about their ICO.
  • [15:27] They will offer companies sponsored slots on an ICO show. They charge the company for that slot which is usually a 15 to 18 minute interview.
  • [15:48] They usually do three of those in an episode. Their numbers are on the high side, and they're not going to take sponsors that don't fit.
  • [17:07] They also have some crypto related sponsors.
  • [17:53] They have also taken the Bad Crypto Show on the road and actually created a live experience. They have a funny, engaging, and interactive experience that adds a whole new dimension to these crypto conferences.
  • [19:05] The Bad Crypto Live Shows were an unintended consequence. People could try to copy them, but it would be obvious.
  • [19:10] They have a really unique niche within this vertical.
  • [19:55] How podcasters are now becoming fascinating entities.
  • [21:24] How doing Bad Crypto Live is so much more fun than doing a professional keynote speech. It's like doing improv.
  • [22:28] They now have a team to help manage the show. All of the aspects of podcasting can be really draining. They like to focus on what they do best which is creating content and speaking.
  • [23:09] Is there room for new podcasts? Of course.Tell a story that is unique and be true to yourself.
  • [23:28] Why would you want to copy what somebody else is doing. Do something unique.

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