Income Report: July 2019

Introduction

Welcome to my July 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.

Summary

Sorry but my update will be short this month. I spent the majority of the month away on holiday, taking a well needed break with the kids.

  • Show downloads: 187,129

  • Income: $33,747.98

  • Expenses: $13,078.79

  • Profit: $20,669.19


July 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

  • Channel growth

 
 

July Downloads:

  • Libsyn: 148,374

  • YouTube: 27,300

  • SoundCloud: 1,657

  • Spotify: 9,798

  • Total: 187,129 (-6.2% from June)
    Note: there was another drop in downloads this month, the charts highlight how the wide fluctuations in listens from YouTube (red line) can impact the total for each month.

Note: Libsyn is my podcast hosting provider which is the stats for downloads on iTunes and the majority of other podcast applications.

Other Stats:

Notes:

  • Growth was negative this month with a fall of -6.2%, but this can be attributed to YouTube which saw a fall of -37.4% in download. My standard feed which support iTunes and Android listeners grew slightly at 2.9%.

  • YouTube & Soundcloud: as noted above, YouTube saw a quite significant drop. YouTube downloads are quite volatile and I have noticed a correlation between guest profile/show subject and downloads. Where the Andreas show is approaching 100k downloads, it has done so with +73k downloads via YouTube. The reason is that YouTube is a giant search and referral engine, whereas the standard feed has more friction.

  • Other channels: SoundCloud continues to fall but the total numbers are not too significant. I’ll continue to use the platform as there are listeners on the platform and the embedded player is useful on the website. Spotify was static in June.

  • 60 day average: the good news is that the 60 day average is now at its highest level jumping a massive +17.3% this month, and this is despite the Andreas show being out of range. This highlights that the show continues to grow in total reach.


Platform Stats:

  • Website page views: 32,049 (-11.1% from June ‘19)

  • Email subscribers: 2,976 (+1.9%)

  • YouTube followers: 7,240 (+5.6%)

  • Twitter followers: 68,600 (+4.1%)

  • Twitter followers (WBD Account): 4,885 (+6.5%)

  • Facebook page: 162 (+5.2%)

  • Medium: 2,600 (+0%)

  • LinkedIn: 4,680 (+4%)

Note: The Facebook page has had very little attention due to work load.

Notes (no change from May):

  • 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 fell again this month, I really need to consider how I can make it a more useful resource.

  • 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


Income Report

Summary:

  • Income: $33,747.98

  • Expenses: $13,078.79

  • Profit: $20,669.19
    Note: I have negotiated away the % network fee rate and will only be paying for bandwidth. I am awaiting my first bill so that will be deducted from July’s figures.

Gross income - $33,747.98

  • Sponsorship: $32,664.67

  • Professional services: $0.00

  • Patrons: $815.55

  • Podcast subscription (BTC): $60.00

  • Merchandise sales: $0.00

  • Tipjar: $207.76

    • Bitcoin: $67.54
      0.00674248 BTC

    • Bitcoin via Lightning: $108.24
      1,080,600 Sats

    • Litecoin: $0.00

    • ZCash: $0.00

    • Monero: $6.95
      0.85264796799

    • Ethereum: $0.00

    • Ripplecoin: jog on

  • BAT payments: $25.03

Expenses - $18,934.77

  • Travel: $6,335.79

  • Entertainment: $3,049.51

  • Computer and software: $384.97

  • Banking fees: $4.19

  • Podcast costs: $2,492.77

  • Community support: $811.56

    • Donations: $509.56 (giving Bitcoin away)

    • Patreon - Noded: $12.00

    • Patreon - Popular Front: $36.00

    • Patreon - Saifedean: $60.00

    • Patreon - Luke Dash Jr: $24.00

    • Patreon - Stephan Livera: $12.00

    • Patreon - Rekt Podcast: $30.00

    • Patreon - Euclid & Oaks: $20.00

    • Patreon - Amy Castor: $20.00

Note:

  • Revenue dropped back to standard levels, June was a significant boost with the sale of sponsorship for the ATM special.

  • 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.


Income Breakdown

Sponsors:

  • Clients: 5

  • Show sponsored by: 1 booking (lead sponsor - Kraken)

  • Preroll / midroll mix: 3 bookings

  • Special production: 1 booking

Inventory:

  • Available shows: 10

  • Available video shows: 0

  • Available slots per show: 6

  • Available slots per video show: 2

  • Total available slots: 60

  • Slots sold: 50

  • Inventory sold: 83.3%

  • Revenue per show: $3,266.47

  • Show CPM value: $192.15 (based on a projected average of 17k downloads per show)

    • Average ad CPM rate: $38.43
      While downloads go up, I am reluctant to change my ratecard, as such the ad CPM rate will fall.


Key lessons

To take forward:

  • Sponsorship of shows is the overwhelming driver of revenue. The model itself is quite simple, create high quality shows for a large audience and sell awareness.

  • Due to limited time I will be focusing on how I can become more efficient with my process.

  • My engineer/producer is handling the majority of who engineering and publishing, freeing me up to focus on the product.


June Objectives Audit

Launch Defiance:

  • (NOT DONE - DELAYED) Launch my new show Defiance (might slip into August for logistical reasons)

Efficient operations:

  • (NOT DONE) Assistant: find assistant

Revenue growth:

  • (COMPLETE) Confirm lead sponsor for Defiance

  • (COMPLETE) Publish ATM special

Marketing:

  • (COMPLETE) Continue to optimise website for search

  • (NOT DONE) Finish review of content on site and ensure it reflects personal opinion

  • (NOT DONE) Prepare a marketing plan

August Objectives

Launch Defiance:

  • Launch my new show Defiance (might slip into August for logistical reasons)

Efficient operations:

  • Assistant: find assistant

Revenue growth:

  • Media company complete deck and review opportunity to launch bigger media company

  • Publish Libra special

  • Plan Beginners Guide to Bitcoin

Marketing:

  • Continue to optimise website for search

  • Finish review of content on site and ensure it reflects personal opinion

  • Prepare a marketing plan


Goals

Short-term:

  • DONE Achieve +$10,000 profit per month (now consistently achieved and forward billing for the year reflects thisx)

  • DONE Consistent revenues to recruit assistant (on target)

Long-term:

  1. Achieve £1m of cleared profit

  2. Buy Lambo

  3. Buy Bedford Town and get them in the football league

  4. 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.