The Pros and Cons of “Exclusive” Podcasts

In the early 80s, "music videos" were a big deal. One play on MTV was the equivalent promotion of tens of thousands of plays on broadcast radio.

But there were other, non-MTV music video outlets ... the biggest being a weekly show on NBC called Friday Night Videos.

MTV was looking for an edge, so it worked deals for "exclusive" videos from top artists. These videos got extra promotion from the network.

But there was one problem ...

Only 31% of households in the US had access to cable television and even fewer households actually subscribed. NBC, a traditional broadcast network, reached 99.7% of televisions in the US.

So yeah, there was "extra promotion" available with an exclusive deal, but at what cost? The big audience was on NBC!

The same thing is happening with podcasts (and other audio content) now. Audible, Amazon, and Spotify love to do exclusive deals.

But is this where your audience is?

Amazon dominates book sales in the United States. About half of all book sales are via Amazon. This can be significantly higher if you’re driving traffic to your own book and sending people to Amazon.

Audible has similar numbers, approximately 41% of global audiobook sales.

If the majority of your podcast audience is already using a certain platform, going exclusive with that platform may make sense for you.  

Let’s break it down ...

Pros of Going Exclusive

1. Enhanced Promotion:

   • Platforms like Spotify and Audible often provide significant promotional support for exclusive content. This can include featured placements, advertising, and social media mentions.

   • Similar to how MTV promoted exclusive music videos, these platforms aim to drive more traffic to their exclusive podcasts.

2. Financial Incentives:

   • Exclusive deals often come with financial benefits such as upfront payments, higher revenue shares, or production support.

   • For creators looking for financial stability or upfront investment, this can be a compelling reason to go exclusive.

3. Brand Association:

   • Being associated with a major platform can lend credibility and prestige to your podcast.

   • This can attract high-profile guests and additional partnerships.

Cons of Going Exclusive

1. Audience Limitation

   • Just like in the 80s when MTV's reach was limited compared to NBC, exclusive podcasts restrict your potential audience to users of that specific platform.

   • If your audience is spread across multiple platforms (Apple Podcasts, YouTube, etc.), you risk alienating a significant portion of your listeners.

2. Dependence on One Platform

   • Relying solely on one platform can be risky if that platform changes its terms, reduces promotional efforts, or faces technical issues.

   • Diversifying your presence across multiple platforms can offer more stability.

3. Potential Loss of Revenue

   • Limiting your podcast to one platform might reduce overall listener numbers, potentially affecting ad revenue and sponsorship opportunities.

   • Broad distribution can help maximize ad impressions and diversified income streams.

Making the Right Choice

The decision to go exclusive should be based on a thorough understanding of your audience and your goals as a podcaster.

Here are some steps to consider:

1. Analyze Your Audience

   • Determine where the majority of your listeners are currently tuning in from.

   • If a significant portion already uses the platform offering the exclusive deal, it may make sense to go exclusive.

2. Evaluate Financial Offers

   • Compare the financial incentives of going exclusive against potential ad revenue from a broader audience.

   • Consider long-term financial health rather than just immediate gains.

3. Consider Your Growth Strategy

   • Think about where you want your podcast to be in the next few years.

   • If brand growth and widespread recognition are your goals, staying non-exclusive may be more beneficial.

The landscape of podcasting is always evolving. When it comes to exclusive deals or anything else, the only thing you can do is make the best decision with the information you have now. Much of this information comes from the past—the “new boss” is very similar to the “old boss.”

What’s “the next right thing” for your podcast? That’s up to you. But nothing is black and white.