I think the model can work for well produced, compelling Internet broadcasts under the right circumstances…Glenn Beck's done it with http://www.theblaze.com/tv/ , but most traditional broadcasters who've attempted the the pay per play model have failed.
I know Tom Leykis is attempting it, but I'm not sure how well he's doing. His audience, while loyal, seem a little apathetic, unlike Beck's, so I'm assuming that they are less inclined to spend money to listen….I could be wrong.
Yet I think of the examples posted are the exception not typical. Yes they come from a broadcast background so they already have very large audiences. This also means that at some point they were offering a lot of free content (usually advertiser supported) to garner that audience. Consider how big these shows were before they were able to offered paid versions.
It's kind of like pointing at a profitable Hollywood film and inferring that any of the thousands of indy filmmakers can just distribute and charge $15 a ticket. Of course I'd pay for an indie film if it had strong recommendations or, I had previous experience with the creators or, was a subject I was deeply into. That doesn't mean that the indy filmmakers is going to garner a mass audience that way though. In other words, most would not pay to see the film and the filmmakers struggle. Podcasting isn't that much different except I expect the "success" rate is even lower than Hollywood.
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