Ask A Genius 990: How do we monetize this?
Author(s): Rick Rosner and Scott Douglas Jacobsen
Publication (Outlet/Website): Ask A Genius
Publication Date (yyyy/mm/dd): 2024/06/30
Rick Rosner: So Carole periodically freaks out about money, worried that we’ll get old and sick and the medicine or long-term care will cost a ton of money. It already costs a lot, and prices keep going up. So she’s afraid we’ll run out of money, and she’s asking you and me how we can monetize this. We’ve been doing it for ten years and have probably generated more than a million words about this; some of it twaddle, and some maybe not. How do we turn it into money? Asks Carole.
Scott Douglas Jacobsen: As far as I can tell, you would have to get connected to a larger platform.
Rosner: So, who would want to read this? There are a billion people with platforms, and most of the stuff on most of these platforms doesn’t bring in any money. Having a sweet ass and nice big round boobs brings in some money, I guess, on OnlyFans, but this is not OnlyFans. And I don’t have a sweet ass or nice boobs, nor do you.
Jacobsen: No, I do not. We’d have to do affiliate marketing, sell merchandise, sell ads, offer tiered membership through Patreon, host live events and collect tips, or provide social services somehow to listeners.
Rosner: So isn’t the answer that anything we did to get money would mean we’re working for less than minimum wage because the hours we put in and the money we would get would probably not be worth the effort? My thinking is yes. But if just one of these pilots I’ve ever done could somehow make me a reality star, then the auxiliary stuff could build from one big platform, a reality show, to pump up all the other platforms, right?
Jacobsen: There’s a specific rationale there. So it is not easy. Generally, most podcasts and publications do not generate any significant income. The income they generate is usually just enough to sustain the platform. Even big publications like the New York Times have had to slash their staff due to a massive decrease in funding, it has to be affiliated with something more significant. That’s generally how it seems to be done. JD has lots of talents, has put in a lot work, and is struggling. Lance, with a lotskill and specialization, is also having a hard time. So, it seems to be an issue whether you specialize or generalize, finding a way to monetize media output is challenging.
Rosner: All right, end of topic.
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