Income Report: September 2019


Welcome to my September 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.


September was a really busy month with travelling to Wyoming and Palm Springs, and preparing for the launch of my new show Defiance. Show downloads took a dip and were the lowest in 6 months, while revenue was up again from August at just over $40,000.

Again with a significant amount of travel during the month this again highlights how much of a dent this makes on profits. Still, I maintain that with the travel I am able to access interviews not normally available as well as make a better product. An example was being able to record a show in Wyoming with Caitlin Long, Trace Mayer and Tyler Lindholm.

  • Show downloads: 178,699

  • Income: $40,711.91

  • Expenses: $21,006.94

  • Profit: $19,704.97

September 2019 Stats

The September stats report is available for download here, it includes:

  • Downloads by per month total & by platform

  • Downloads by show total & by platform

  • Channel growth

Screenshot 2019-10-09 at 16.08.40.png
Screenshot 2019-10-09 at 16.08.53.png

September Downloads:

  • Libsyn: 144,664

  • YouTube: 144,664

  • SoundCloud: 1,636

  • Spotify: 9,499

  • Total: 178,699 (-14.7% from August)

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

Other Stats:


  • Growth there was a significant drop of -14.7% downloads on August, the lowest in 6 months and I attribute this to there being no breakout shows. In recent months I have had the luxury of at least one +25k breakout show.

  • YouTube: YouTube continues to decline following the boost from the Andreas show. I have though noticed a pattern with regards to the shows which work well on YouTube. Still, I have no intention of gaming this.

  • Other channels: SoundCloud and Spotify were both steady.

  • 60 day average: the 60 day average dropped as well but only as low as June.

Screenshot 2019-10-09 at 16.09.02.png

Platform Stats:

  • Website page views: 29,228 (-21.9% from August ‘19)

  • Email subscribers: 2,980 (-0.1%)

  • YouTube followers: 7,934 (+3.3%)

  • Twitter followers: 72,500 (+0.3%)

  • Twitter followers (WBD Account): 5,557 (+2.8%)

  • Facebook page: 187 (+5.1%)

  • Medium: 2,700 (+0.0%

  • LinkedIn: 4,877 (-1.7%)

  • Instagram: 1,153 (+2.9%)

  • WhatsApp: 310 (-4.6%)

Notes (few changes from August):

  • Twitter growth stalled significantly after a 12 hour ban. I suspect this was part of the punishment.

  • Website saw a huge drop in traffic, the lowest number of page views since I started the income report, I’ve no idea why though

Income Report


  • Income: $40,711.91

  • Expenses: $21,006.94

  • Profit: $19,704.97

Gross income - $40,711.91

  • Sponsorship: $37,873.00

  • Professional services: $2,062.24

  • Patrons: $725.18

  • Podcast subscription (BTC): $0.00

  • Merchandise sales: $0.00

  • Tipjar: $51.49

    • Bitcoin: $32.97
      Insert BTC

    • Bitcoin via Lightning: $1.86
      Insert Sats

  • BAT payments: $16.66

Expenses - $21,006.94

  • Travel: $9,082.33

  • Entertainment: £1,076.52

  • Computer and software: $224.06

  • Banking fees: $2.62

  • Podcast costs: $10,157.40

  • Community support: $130.28


  • Revenue steady but expenses were much higher this month as I increase the support from external suppliers to help me. Of particular note is the increase in engineering and production to get my new show defiance ready for launch.

  • Defiance will see a step change in revenue and audience sizes next month.

Income Breakdown


  • Clients: 5

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

  • Preroll / midroll mix: 4 bookings


  • Available shows: 9

  • Available slots per show: 6

  • Total available slots: 54

  • Slots sold: 49

  • Inventory sold: 87.5%

  • Revenue per show: $4,208.11

  • Show CPM value: $280.5 (based on a projected average of 15k downloads per show)

    • Average ad CPM rate: $56.10

Key lessons

To take forward:

  • There is a limit to how much revenue What Bitcoin Did can make

  • Revenue growth will not necessarily come from a larger audience

September Objectives Audit

Media expansion:

  • (COMPLETE) Defiance: launch

  • (COMPLETE) Media/News Company: prepare deck and present to investors.


  • (COMPLETE) Libra special: publish final shows

  • (COMPLETE) Beginners Guide to Bitcoin: complete planning and secure guests


  • (COMPLETE) SEO: optimise site

  • (NOT DONE) Site content: review and update

  • (NOT DONE) Marketing plan: prepare

October Objectives

Media expansion:

  • Defiance news: launch November 1st

  • Defiance: maintain high quality guests

  • WBD: ensure quality maintains


  • Beginners Guide to Bitcoin: final planning for launch

  • Producer: handover web management to producer


  • 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)

  • DONE Expand inventory through new media assets

  • Consider raising A round to accelerate growth


  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.