Income Report: August 2019
Welcome to my August 2019 income report. My income reports are designed to provide full transparency of the business; further, they are used to prevent conflict of interests in an industry flooded with scams and accusations. There are two podcasts I have used for guidance on how to create a sustainable income: Fire Nation and Smart Passive Income, both provide income reports.
August has been a mixed month. While downloads have grown, achieving the second-best month since I started (only behind my Andreas month anomaly), revenue was down to its lowest since February. I am attributing the drop in revenue down to the summer months and a fall in incremental income from patrons and donations. September forward billing is highlighting that revenue is back in growth and several enquiries are indicating that the podcast may see a strong end to the year.
While revenue was down, so was expenses as I was on holiday for most of August. As such, profit was higher in August than July. This continues to highlight how travel can severely dent profits. Still, I maintain that travelling creates better interviews and offers the opportunity to network and get interviews I might not be able to get remotely.
October will also see the launch of Defiance, where I am close to securing a lead sponsor. I have also held talks with investors about launching a more extensive news and media company.
Show downloads: 209,591
August 2019 Stats
The July stats report is available for download here, it includes:
Downloads by per month total & by platform
Downloads by show total & by platform
Total: 209,591 (+12% from July)
Note: Libsyn is my podcast hosting provider which is the stats for downloads on iTunes and the majority of other podcast applications.
All-time downloads: 2,052,347
Most downloaded shows:
60 day average: 16,666 (-4.9% on July ‘19 report)
Note: this is calculated across the previous two months May and June, ignoring the current month as the most recent shows stats are too new.
Growth was positive again this month and the second biggest month since launch. The only bigger month was March ‘19 but this included the anomaly Andreas show which exploded on YouTube. If you follow the channel graph above you will notice the blue line, this is listeners via iTunes and Google apps and highlights strong and continual growth since launch.
YouTube: YouTube downloads vary quite considerably but there is a pattern between show guest and topic. If I wanted to chase downloads then this would be easy via YouTube but my focus is on the consistency from mobile subscribers who are more loyal to the show. Further, there are important guests and topics which deserve consideration even if they do not lead to high numbers.
Other channels: SoundCloud continues to contribute a small amount of listens and Spotify is in growth but slow.
60 day average: the 60 day average dropped against July, though July saw a massive 12% jump. I have included a 60 day average tracker below which highlights growing show loyalty.
Website page views: 37,398 (+16.7% from July ‘19)
Email subscribers: 2,982 (+0.2%)
YouTube followers: 7,680 (+6.1%)
Twitter followers: 72,300 (+5.4%)
Twitter followers (WBD Account): 5,408 (+10.7%)
Facebook page: 178 (+9.9%)
Medium: 2,700 (+3.9%)
LinkedIn: 4,962 (+6%)
Instagram: 1,121 (+5.5%
Note: The Facebook page has had very little attention due to work load.
Notes (few changes from July):
Twitter follower numbers are consistently growing adding around 3-4k new followers per month.
YouTube continues to grow at a nice rate, I would love to produce more video content to give this channel more value.
Website after falling for a few months, website page views saw a nice big jump, supported by an +81% growth in visits from social media channels.
All other channels need some work (same notes as last month):
Facebook I see little benefit to expending significant time yet (requires a strategy)
Medium I need more time to write but I don’t have that at the moment
Email subscribers would likely grow with unique content but there are already lots of good newsletters out there
Gross income - $29,764.91
Professional services: $0.00
Podcast subscription (BTC): $0.00
Merchandise sales: $0.00
Bitcoin via Lightning: $8.04
Ripplecoin: jog on
BAT payments: $0.00
Expenses - $6,069.70
Computer and software: $213.41
Banking fees: $2.88
Podcast costs: $2,492.77
Community support: $811.56
Revenue dropped back to its lowest level since February. This is attributed to the quiet summer months and a drop in patrons and donations.
While downloads and revenue have plateaued, it is clear that even a significant rise in downloads will not lead to the same in revenue. Revenue expansion will only come from new inventory.
Show sponsored by: 1 booking (lead sponsor - Kraken)
Preroll / midroll mix: 3 bookings
Special production: 1 booking
Available shows: 12
Available video shows: 0
Available slots per show: 6
Available slots per video show: 2
Total available slots: 72
Slots sold: 60
Inventory sold: 83.3%
Revenue per show: $2,976.49
Show CPM value: $198.43 (based on a projected average of 15k downloads per show)
Average ad CPM rate: $39.68
While downloads go up, I am reluctant to change my ratecard, as such the ad CPM rate will fall.
To take forward:
Quiet summer months lead to a lower income level and enquiries. Will prepare better next year.
Patron support is dropping but the cost/benefit of improving this may not exist.
August Objectives Audit
Launch my new show Defiance (delayed until October 1st)
(DROPPED FOR NOW) Assistant: find assistant
(IN PROGRESS) Media company complete deck and review opportunity to launch bigger media company
(IN PROGRESS) Publish Libra special
(IN PROGRESS) Plan Beginners Guide to Bitcoin
(IN PROGRESS) Continue to optimise website for search
(ON HOLD) Finish review of content on site and ensure it reflects personal opinion
(IN PROGRESS) Prepare a marketing plan
Defiance: launch October 1st
Media/News Company: prepare deck and present to investors.
Libra special: publish final shows
Beginners Guide to Bitcoin: complete planning and secure guests
SEO: optimise site
Site content: review and update
Marketing plan: prepare
DONE Achieve +$10,000 profit per month (now consistently achieved and forward billing for the year reflects this)
DONE Consistent revenues to recruit team (on target)
Expand inventory through new media assets
Achieve £1m of cleared profit
Buy Bedford Town and get them in the football league
Be crowned King of Bedford
If you read this income report and you have any questions then please feel free to reach out to me.