EPISODE 77 — Alex Blumberg, Co-founder and CEO of Gimlet Media

[JulyDiaz 2797]

Public radio veteran Alex Blumberg returns to The Wolf Den, nearly a year after he told then-host Jeff Ullrich about his plans for a new podcasting company. Now Alex is the co-founder and CEO of Gimlet Media, which produces the popular StartUp and ReplyAll podcasts. He documented the founding and the process of raising $1.5 million in capital on the first season of StartUp. Alex tells Adam that the events of the last year have been “shocking,” and recounts the ways in which things turned out how he expected, and the outcomes that surprised him. He and Adam discuss how the breakout podcasts “Serial” and “Invisibilia” have raised the bar for the medium, and why rapid audience growth really qualifies podcast companies as true start ups. Alex also explains the choice to be so personally revealing on StartUp, and the point at which he knew the show and the company was succeeding. He also reveals some teasers about what to expect in the second season of StartUp, which debuts April 23.

[SalmonLikeTHeFish 13]

It sounds like a lot of the business side of podcasts is about numbers, streams, unique visitors, etc. But the type of programming Earwolf creates doesn't seem like it's designed for grabbing huge numbers. I mean, I'm sure getting a ton of listens is the goal, but the content is pretty much based on a host who is genuinely invested in what they're talking about and the listeners slowly grow over time. I think this is why most podcasts have such dedicated listeners and a steady base of fans. The Wolf Den often brings up the future of podcasting, specifically the tech side and I keep trying to picture where it will be in five years. It was only one year since the last Alex Blumberg interview and a lot has happened! Going back to the numbers thing, if podcasting is an evolving and increasingly lucrative business, what is stopping a complete cash grab podcast? Or the equivalent of a reality tv show with low production costs and high returns. Is there even an equivalent of that in podcasts?

[DanEngler 5249]

Going back to the numbers thing, if podcasting is an evolving and increasingly lucrative business, what is stopping a complete cash grab podcast? Or the equivalent of a reality tv show with low production costs and high returns.

Traditional podcast audiences are more technically savvy and more willing to scrutinize the media they consume. Despite the popularity of shows like Serial, podcasts are still part of a niche that requires greater investment of time and willpower than throwaway content like reality TV. The end result is that podcast fans are more passionate and engaged, and less likely to be taken in by blatant cash grabs.

 

The results of Midroll's surveys show a clear correlation between the amount of trust listeners place in a host and their likelihood of buying products and services advertised by those hosts. That trust has to be earned first, and trust can only be established through organic audience building. Kim Kardashian can hire a social media team to tweet her $100,000 product endorsements, but you can't pawn off a podcast on your personal assistant.

 

As the audience for podcasts continues to grow and the demographics expand, there will no doubt be people who are more susceptible. If the "Food Babe" had a podcast, I'm sure her legion of followers would leap at the chance to buy whatever snake oil she endorsed there. (SEE ALSO: Dr. Oz, miracle diets being peddled by The Biggest Loser stars, et al.)