Cost Justification: A Podcast Production Exercise

How do you determine the production cost of a podcast?

My wife purchases every bit of clothing with her cost justification formula (price per wear times days worn) in the back of her head. After a handful of purchases with this approach, she can now confidently ask herself, is this dress worth $17/day times 20 days over 2 years? 

In a similar fashion, we can calculate your cost of production for a podcast. We’ll use dollars per listener.

If you have 200 listeners, and you pay $200 per episode, you’re paying $1/listener/episode. Right?

I feel as though most people think, more listeners = lower cost per… But, I would like to propose a slightly different angle. Where are those dollars going in your production? 

While packaging is important for any great product, the content is number one when it comes to growing a show. 

Every episode you need to consider one thing when it comes to podcasting: How Can I Make This Show So Great, That The Listener Comes Back For More? 

This is why I compare podcasting to restaurants. Don’t be the new restaurant in town that everybody only goes to once. That’s not growth, that’s hemorrhaging funds. 

For every editor in the world, the longer the project the more you’ll spend. If you have $100 to spend on editing, pay more per minute for a higher quality product. Don’t pay less because you felt that the 59 minute interview you did was good. Focus on what’s worth it to the listener, because they owe you nothing, and will never return.