I used to work in public radio, where every few months we would launch a big, on-air pledge drive to raise money to keep the station running. These drives would usually last about two weeks and completely disrupted the usual programming people were used to. We’d cut in every hour for a few minutes here and there for a “pledge break”, during which we’d ask listeners for money. It was a whole production: there were daily goals, matching donations from big supporters, giveaways, prize drawings for iPads… all in the name of supporting what we were doing.
These pledge drives were hugely successful. Granted, the station was a good one, we produced a lot of great programming, and we operated in a large market. But even though these pledge drives worked, we all knew how annoying it was for listeners. We would even say things on-air like, “We know these can be a drag but it’s how we make the shows you love, so if you love this station, give us a call!” One year, a manager came up with the idea to try and shorten the drives by raising money ahead of time. So, in the weeks leading up to the drive, we started running brief messages asking listeners to donate early, with the incentive that they could collectively shorten the length of the drive by doing so. We sold the idea like it was a reward. And it worked! Sort of. But it would only shave a couple days off in the end.
Hearing these early value for value podcasters ask their listeners to send them some sats if they value a show is so reminiscent of the public radio funding model — which is promising because that model has been working incredibly well for decades. The messaging on these podcasts is almost identical in nature and tone to what we'd do at my old radio station (and what continues to happen today). The big difference is that these mini-breaks where hosts ask for money can be just a small part of every episode, like a reminder, and do not need to be as intrusive or disruptive as a full-on fundraiser. That’s a huge improvement in listener experience. And I think spread out over time, the earnings potential is at least as good as, if not better than, what’s possible with the traditional model.
This can work. The concept is not new. It’s just the implementation that’s a bit different. Once people get comfortable with it, there’s no looking back. What’s exciting is it’s still just the very beginning, and we’re seeing some amazing results already.
Waiting for the day when my old station adopts value for value and can give up the pledge drives… give it time.
