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Earn Your Leisure

EYL #268: $2 Billion Podcasting Industry: What You Need To Know - Money, Contracts, Ads, & Mistakes With Loon

Earn Your Leisure

iHeartPodcasts

Business News, Careers, News, Entrepreneurship, Business, Education, Investing

4.9 โ€ข 7.9K Ratings

๐Ÿ—“๏ธ 12 December 2023

โฑ๏ธ 107 minutes

๐Ÿงพ๏ธ Download transcript

Summary

In this riveting episode of "Earn Your Leisure," we're joined by the insightful Loon, who delves deep into the intricacies of the podcasting and business world. Here's a sneak peek at what we cover:


๐ŸŽ™๏ธ **Beyond Ad Revenue**: Discover why relying solely on ad revenue isn't enough for a sustainable living in podcasting.


๐Ÿšซ **Street Hustle vs. Real Wealth**: Loon breaks down the stark difference between hustling on the streets and legitimate wealth accumulation.


๐Ÿ” **Selling Opportunities**: Most people miss the mark on how to effectively sell opportunities. Learn the right approach here.


๐Ÿ”— **Accessing the Source**: The challenges of booking influential people and the importance of going directly to the source.


๐Ÿ“– **Power of Storytelling**: Unravel why storytelling remains the most potent marketing tool.


๐Ÿ“ **Contract Savvy**: The critical need to always read and understand your contracts.


๐Ÿท๏ธ **Strategic Job Titles**: Be intentional about the job titles you assign - it matters more than you think.


๐Ÿ’ธ **Decoding CPMs**: A look at how CPMs can be misleading and what to watch out for.


๐Ÿ‘๏ธ **The Art of Execution**: Why meticulous attention to execution is crucial.


๐Ÿ๏ธ **Self-Reliance in Business**: Embracing the fact that in business, you're essentially on your own island.


๐Ÿ”„ **Law of Reciprocity**: Understanding and utilizing the law of reciprocity in your ventures.


โญ **Fame's Double-Edged Sword**: How achieving fame can actually be crippling.


๐ŸŽค **Mastering Monologues**: Loon shares his experience with the challenges of doing monologues.


๐Ÿ’ฐ **Surviving Without Money**: "If I didnโ€™t have money, I wouldnโ€™t have made it" - A stark revelation.


๐Ÿ“ˆ **Bill Simons' Big Sell**: The story of how Bill Simons sold his company for a whopping $200 million.


๐Ÿ” **Podcast Rankings & Surprises**: Loon's take on Akademiks, Adin Ross, and the unpredictable world of podcast rankings.


๐Ÿค **Corporate Challenges**: Why working with corporations can be a tough nut to crack.


๐Ÿงฎ **Complex Math in Deals**: The more complicated the math, the more likely youโ€™re getting a bad deal.


๐Ÿ“Š **CPMs Debunked**: Why basing your deals solely on CPMs isnโ€™t wise.


๐Ÿคฒ **Patreon's Unique Approach**: How Patreon offers a different kind of relationship with your audience.


๐ŸŽฏ **Advertising for Black Podcasters**: An exploration into the level of advertising specifically for Black podcasters.


๐Ÿ“‘ **Simplifying Contracts**: The importance of keeping contracts simple and straightforward.


๐Ÿ” **Why Loon Chose Black Effect**: Loon shares his reasons for signing with Black Effect.


๐ŸŽ“ **Podcasting Lessons**: Insights into how Loon learned the ropes of the podcasting game.


๐ŸŽต **Freestyling Monologues**: A look into Loon's unique approach to freestyling his monologues.


๐Ÿ›ฃ๏ธ **Street Smarts in Business**: Translating street knowledge into business acumen.


๐Ÿ“ˆ **Reality Check for Big Podcasters**: The surprising business acumen (or lack thereof) among big podcasters.


๐Ÿ“ **To Sign or Not to Sign**: Debating the pros and cons of signing deals in the podcast industry.


๐Ÿ›ก๏ธ **Minimum Guarantees Explained**: Why every podcaster needs to understand minimum guarantees.


๐Ÿ” **Seeking Transparency**: The need for more transparency in the podcast space.


๐ŸŽค **Rap vs. Podcast**: How the rap game has impacted the podcast industry.


๐Ÿ”„ **360 Deals in Podcasting**: Would you sign a 360 deal as a podcaster? Loon weighs in.


Tune in for an unfiltered, behind-the-scenes look at the podcast industry through the eyes of Loon. You don't want to miss these invaluable insights!


๐Ÿ”” Subscribe for more exclusive content and real talk on the business of podcasting.


#EarnYourLeisure #Loon #PodcastingTips #BusinessInsights #RealTalk



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Transcript

Click on a timestamp to play from that location

0:00.0

Earners, what's up? Look, Hinge is the dating app designed to be deleted. Why?

0:05.1

Hinge gives you a sense of someone's personality and lets you share your own.

0:09.4

You get to know potential dates through their unique answers to prompts, plus get a sense of someone's

0:14.5

dating intentions and what they're looking for.

0:16.9

Everyone's trying to earn their love, so I have plenty of friends that are using the app,

0:21.0

like my man Tone.

0:22.4

His busy work life left little room for

0:24.8

traditional dating and he wasn't too keen of the random meetups so we suggested he

0:29.8

try hinge based on its unique approach to dating that focuses on meaningful connections.

0:34.9

He was skeptical but curious at first, but after downloading the app, he appreciated how Hinge's profile

0:40.4

setup allows someone to show something other than just their appearance.

0:44.9

It highlighted interest, humor, and lifestyle.

0:48.0

He answered prompts like a life goal of mine and I'm overly competitive about, which added depth to his profile.

0:54.0

After a few days of engaging with the app and having real conversations,

0:58.0

he was matched with a 34-year-old software engineer

1:02.0

who shared his love of old school R&B and

1:05.0

romcoms. What started out as a conversation about their favorite movie

1:08.8

soundtracks evolved into a nightly chat about everything from their career aspirations to the childhood memories.

1:15.6

Their first date was at an R&B only gathering, followed by dinner at a cozy cafe nearby.

1:20.8

The conversation flowed effortlessly, and they discovered even more of their common interest.

1:25.8

Fast forward eight months and tone and that 34-year-old software engineer, Diane, are still rocking.

1:32.2

Thanks to Hinge, the first date has turned into many more.

...

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