"Donations" Is Not A Business Model - Part 3 - Ep #77

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By Ravi Jayagopal. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

One of the common myths that a lot of content creators have, in this day and age of crowdfunding, is that if you have a large enough audience, then you can earn a decent income using donations from your listeners.

90% of creators, will not be able to make even a few hundred dollars a month from their show, and I'm going to show you why.

First, I'm going to play you a clip from a podcast called RadioLab, a super-popular radio show and podcast with millions of listeners, where you will hear a really shocking revelation about the ability - or should I say, inability - to raise funds through donations even when you have a super-successful podcast, which, according to their media kit, they get 1.6 million weekly radio listeners.

On a cold morning in January 2007, a violinist wearing a baseball cap was playing some beautiful music in a Washington DC subway train station.

1,097 people passed him by, but only 7 of them stopped to listen to him. He had a mat spread out in front of him to collect donations.

For his 43-minute performance, he collected a whopping $32.17 from a total of 27 passersby.

Listen to the show for the rest.

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88 episodes