Feasibility-analysis-of-podcast-field-in-India.pdf

Pranveer Singh Institute of Technology Mini Project -1
MINI PROJECT REPORT
Submitted in partial fulfillment of Master of Business Administration
Session-2021-2022
“FEASIBILITY ANALYSIS OF PODCAST
FIELD IN INDIA ”
Faculty Guide Submitted By:
[Dr. Brijendra Singh] [ Rahul Singh ]
[Faculty-Master of Business Administration] [Student ID 31361]
PRANVEER SINGH INSTITUTE OF TECHNOLOGY
Affiliated to Dr. A.P.J. AKTU

DECLARATION
I hereby declare that this submission is my own work. It contains no material previously
publishedor written by another person, nor has this materials to a substantial extent been
accepted for the award of any other degree or diploma of the university or other institute
of higher learning.
( Rahul Singh )

CERTIFICATE

ACKNOWLEDGEMENT
Mini Project Report is the one of the important part of MBA program, which has helped me to
gaina lot of experience, which will be beneficial in my succeeding career. For this with an
ineffable sense of gratitude I take this opportunity to express my deep sense of indebtedness
and gratitude to Dr. S. K. Bhalla, Director - Pranveer Singh Institute of Technology and
Dr. Harit Kumar , Head of Business Administration Department, for their
encouragement, support and guidance in carrying out the project.
I am very much thankful to, my Project Guide [Dr. Brijendra Singh], Faculty – MBA
Department for his/her interest, constructive criticism, persistent encouragement and untiring
guidancethroughout the development of the project. It has been my great privilege to work
under his inspiring guidance.
I am also thankful to my parents and my friends for their indelible co-operation for achieving
the goals of this study.

TABLE OF CONTENT
Contents
MINI PROJECT REPORT ......................................................................................1
“FEASIBILITY ANALYSIS OF PODCAST FIELD IN INDIA ” ..........................1
DECLARATION ..............................................................................................................................2
ACKNOWLEDGEMENT.................................................................................................................4
DESCRIPTION OF BUSINESS IDEA..................................................................................................6
Aodiip: Podcast and Audiobook📚.....................................................................................................7
INTRODUCTION ................................................................................................................................7
Importance:...........................................................................................................................................8
1Why used podcasting.......................................................................................................................8
History of podcast .............................................................................................................................8
types of podcast.................................................................................................................................8
Scope of Podcast ...............................................................................................................................9
Podcast Marketing.............................................................................................................................9
3. Podcast Guest Networks...................................................................................................9
4. Internal Communications .................................................................................................9
INTERFACE OF AODIIP APP.............................................................. Error! Bookmark not defined.
Background.........................................................................................................................................13
Objective: .......................................................................................................................................13
Methods ..........................................................................................................................................13
Conclusions:....................................................................................................................................13
Keywords:.......................................................................................................................................13
Methods..............................................................................................................................................15
Results ............................................................................................................................................18
Table 1. Podcast Episodes since February 2016...................................................................................18
Table 2. Community Board Podcast First Six Months from February 14, 20116 to July 15, 2016.........21
References ......................................................................................................................................22
Feasibility of Upside’s Current Podcast Model ................................................................................26
City-by-City Analysis and Podcast Listenership ..............................................................................27
Complementary Products.................................................................................................................28
Gap Analysis and Transition to Primary Research ...............................................................................29
Feasibility of Podcasts and City by City Analysis for Upside.FM ........................................................30
Conclusion......................................................................................................................................31
BIBLIOGRAPHY...............................................................................................................................34

DESCRIPTION OF BUSINESS IDEA

Listen to podcast, audiobook and original series for free exclusively on Aodiip
Aodiip: Podcast and Audiobook📚.
We have everything that you want from podcasts to audiobooks for free. Aodiip is the easiest
way to make a podcast and get it heard by genuine audience
Including free music streaming, podcasts, amazing content with audiobooks at no cost.
With Aodiip Podcasts, you can play the latest episodes from your favourite shows, explore
exclusively recommended podcasts for you. Along with this, you can manage your listening
activity and increase your attention span. It provides podcast for every category.
Spend your time in learning something by a book. Stop mindless swiping and scrolling.
While you listen, even the mind becomes extraordinary. Learn something new whenever you
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Wherever you go, you can enjoy all of this just at your fingertips.
Discover podcasts that you'll love
• Listen to all your favorite podcasts for free.
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• Browse and share popular and trending shows in comedy, news, politics, music, business, TV and
film, education, health and fitness, technology, arts, science, sports and more.
Customize your listening experience
• Listen at faster playback speeds or skip over silences.
• Queue up episodes for a seamless listening experience.
• Easily keep track of your listening history.
★Learn something new daily
INTRODUCTION
Importance and Relevance of the business plan - Aodiip: Podcast and Audiobook📚.
For a good business idea creative thinking is important. You just have to look around for
opportunities to make your dream come true. You never know how a vacation of yours could
give a profit earning idea.

Importance:
A podcast is an episodic series of digital audio files that a user can download to a personal
device for easy listening. Streaming applications and podcasting services provide a convenient
and integrated way to manage a personal consumption queue across many podcast sources and
playback devices.
A podcast being played through a podcast app on an iPhone
The Serial podcast being played through the Pocket Casts app on an iPhone
A podcast series usually features one or more recurring hosts engaged in a discussion abouta
particular topic or current event. Discussion and content within a podcast can range from
carefully scripted to completely improvised. Podcasts combine elaborate and artistic sound
production with thematic concerns ranging from scientific research to slice-of-life journalism.
Many podcast series provide an associated website with links and show notes, guest
biographies, transcripts, additional resources, commentary, and even a community forum
dedicated to discussing the show's content.
The cost to the consumer is low, with many podcasts free to download. Some are
underwritten by corporations or sponsored, with the inclusion of commercial advertisements.
In other cases, a podcast could be a business venture supported by some combination of a
paid subscription model, advertising or product delivered after sale. Because podcast content
is often free, podcasting is often classified as a disruptive medium, adverse to the
maintenance of traditional revenue models.
1Why used podcasting
Podcasts are delivered digitally, they eliminate many costs associated with other forms of
communications including postage, printing, and paper. They can also reduce meeting costs
and e-mail storage costs. They are easy to archive and updating them is quick and easy.
History of podcast
In October 2000, the concept of attaching sound and video files in RSS feeds was proposed in
a draft by Tristan Louis.[15] The idea was implemented by Dave Winer, a software
developer and an author of the RSS format.
Podcasting, once an obscure method of spreading audio information, has become a
recognized medium for distributing audio content, whether for corporate or personal use.
Podcasts are similar to radio programs in form, but they exist as audio files that can be played
at a listener's convenience, anytime and anywhere.
types of podcast
A.Enhanced podcasts
B.Fiction podcast
C.Podcast novels

Scope of Podcast
(Please be aware that we are not currently hiring for this position)
● Attend podcast meetings (which can happen outside of normal working hours), pitch ideas,
take minutes, and help to plot episodes.
● Edit recordings (with Volunteer Podcast Producer).
● Release episodes on appropriate platforms.
● Help to design marketing around episodes and execute.
● Interview subjects and help with recording.
● Other duties as assigned.
Podcast Marketing
Podcast marketing is the act of building a strategy and using tactics that are all geared towards
growing your audience and awareness.
1. Social Media Promotion
2. Community Growth
Places to Find Communities:Slack
Groups
Facebook Groups
Newsletters
Meetups/Events
Reddit
Discord
Clubhouse
3.Podcast Guest Networks
Included in a Media
Kit:Podcast icon
Podcast links
Episode art
Audiograms
Quote graphics
Sample social media posts
4.Internal Communications
5. Podcast SEO
A. Show Notes
B.Podcast Description
C.Episode Description
D.Podcast Title
E.Episode Title

INTERFACE OF AODIIP APP.

Background:
Podcasts linked with social media is a strategy to promote and disseminate health and
health research information to the community without constraints of time, weather, and
geography.
Objective:
To describe the process of creating a podcast library and promoting it on social mediaas
a strategy for disseminating health and biomedical research topics to the community.
Methods:
We used a Community and Patient Engagement in Research approach to develop a
process to use podcasts for dissemination of health and health research information.
We report onaspects of audience reach, impressions, and engagement on social media
through the number of downloads, shares and reactions posted on Soundcloud.com,
Twitter and Facebook, among others.
Results:
In collaboration with our local community partner, we produced 45 podcasts that
focused on topics selected from a recent community health needs assessment and from
input from health researchers. Episodes lasted about 22 minutes and presented health-
related projects, community events, and community resources, with most featured
guests being from Olmsted County (53%). Health research was the most frequently
discussed topic. Between February 2016 and June 2017, episodes were played 1,843
times on Soundcloud.com and reached 1,702 users on our Facebook page.
Conclusions:
This study demonstrates the process and feasibility of creating a content library
ofpodcasts for disseminating health and research-related information. Further
examination is needed to determine best methods to develop a sustainable social
media plan that will further enhance dissemination (audience reach), knowledge
acquisition and communication of health topics.
Keywords:
podcast, community engagement, community-engaged research, social media,

research education
IntroductionSocial
media presents a powerful tool for reaching, engaging, and connecting individuals for
public health and health promotion (1). Social network platforms have large reach at
relatively low cost, representing a distinct advantage over face-to-face approaches (2).
Social media is usedto promote health literacy through education and dissemination of
information to the lay public (3), to promote behavior changes (4) (e.g. smoking
cessation, diabetes prevention, exercise) and to promote research participation (5),
among others. In addition social media has also been utilized among health
professionals for continuing education (6), and dissemination of clinical practice
changes (7). Highly interactive social media (i.e., web 2.0 technologies) can increase
thedepth of engagement and connection with extensive reach to underserved, diverse
populations (8,9) and with evidence-based content. Integrating technology, such as
podcasts into traditional healthcare communication/disseminationmodels is an effective
and practical strategy for not only delivering quality health-related information to the
public such as clinical practice changes, education, and health research (10, 11), but
also for creating opportunities for engagement with the content (12, 13). Podcasts are
downloadable, digital, episodic audio recordings streamed through a web-based
platform that canbe easily accessed to portable media players and then shared on
multiple social media platforms such as Facebook, Twitter, or blogs. Over time, the
number of people listening to podcasts has increased, especially among those
interested in healthcare, research, and education (11-14). Between 2013 and 2016,
21% of Americans aged 12 or older reported listening to a podcast in the previous
month, a steady 36% increase from 2008 to the present that coincides with use and
access to smartphones, tablets, and other mobile devices (14, 15). This strategy fits
well into the principles of community and patient engagement in research (CPER) (16)
that aim to establish
sustainable ways to build trust, respect culture, and create clear expectations of
outcomes to increase wellness. Traditional CPER approaches have involved intensive
face-to-face communication formats to promote communication between researchers,
community members, and other stakeholders (17-19); yet these approaches limit
audience reach and can restrict participation due to constraints of time, geography, and
weather. Podcasts, on the other hand, canaccomplish similar aims, but are subject to
none of these limitations; and their content can be created based upon the interests and
listening patterns of their audience. The process of creating a community topic driven
podcast afforded us opportunity to design a community-academic health certain
dissemination tool to raise awareness about health and biomedical research. After
going through this process, it was determined that our experiences might benefit others
going through similar challenges in creating novel ways to share health and community-
related information that utilizes social media platforms to stimulate communication and
maximize audience reach

Methods
The idea for developing podcasts arose from a discussion during a community advisory
board meeting about the need to transfer the content of a Science Café to the virtual
realm. Science Cafés are in-person, casual events that encourage two-way
conversations about health/science-related topics between scientists, health
practitioners and the lay public to enhance health literacy, trust and co-learning. A
series of these events had been recently conducted in the community, and they were
termed ‘garden cafés,’ as many had taken place in community gardens. While
successful in stimulating conversation and idea exchange, the reach of these caféswas
limited due to the barriers of geography, weather, and time. Therefore, the decision was
made to create a series of health-related podcasts based upon a recent community
health needs assessment that would provide an extensive library of topics to share via
social media. As a result, podcasts were developed and integrated with The Mayo Clinic
Center for Clinical and Translational Science’s Community Engagement Program
(CEP), social media plan, which already included use of a blog, Wordpress
(ocer.mayo.edu), Twitter (@mayoclinic_cenr), and Facebook (fb.me/mayocenr) (8). The
creators have termed this approach, the Social Media Community Garden Café. The
development of this meaningful podcast content was supported by (CEP) and Smartride
Network. Our partner, Smartride Network is a collaborative, community-based
organization that hosts a variety of cultural, art, health, and biomedical research
programs. To select topics for podcasts we looked to the Olmsted County Community
Health Needs Assessment (CHNA) (20). The CHNA not only recommended health
topics, but also stated that new social media approaches should be developed for
disseminating information with the growing Olmsted County community. This article
reports the process stakeholders used to develop Podcast topics, promote the podcasts
themselves on social media, as well as basic analytics of audience reach, impressions,
and engagement as reported through the number of downloads, shares and
reactionsposted on Soundcloud.com, Twitter and Facebook

 Developing Podcasts The podcast team decided to focus the first few
episodes on community-identified health and wellness needs. A systematic
community-engaged approach involved Olmsted County Public Health Services,
Olmsted Medical Center, Mayo Clinic, and a number of community service
organizations jointly collecting data from residents on their health needs (20).
The organizers of the CHNA held a number of community events as well as other
activities with local community
members and community organizations to prioritize the most pressing health topics
locally. The top five topics are: injury prevention; immunizations; overweight/obesity;
mental health; and financial stress. After the initial episodes, the podcast team
expanded the content list to topics related to cultural events, health and wellness, and
international health. The change in content selection also expanded the pool of guest
speakers for the podcast. Local media and internal communications for events like
academic seminars provided other sources of inspiration for the podcas
Guests were invited in-person by the host or other team members to share their stories.
We determined credibility of guest speakers by exploring local content expertise. For
national and international speakers, we connected with the organizers of a number of
speaker series at our academic medical center (e.g., Grand Rounds and other medical
seminars) to ask the visiting faculty to create a podcast during their visit. Guests shared
their stories related to community priorities and/or biomedical research. The episode
format consisted of the following
 welcome and introduction by the host and guest;
 Guest describes personal journey that led to current work;
 Guest shares current projects, findings, resources, and engagement
opportunities for listeners
 Guest creates the titles of the episodes with the host to enhance promotion to
their networks;
 Host concludes each episode with a call-to-action to follow our social media
platforms and for listeners to share the podcasts with their networks. We used a
CPER research approach to determine sponsorship for podcast recording
equipment and to prioritize episode creation. This approach involved working
directly with the CEP, local community partners, and healthcare providers. The

podcast design process focused on audience and delivery. We recognized that
the podcast alone does not foster communication and information dissemination
like other forms of social media. Therefore, it was linked to other interactive
social media tools like Twitter and Facebook, where listeners could comment and
post reactions.
Audience
Our primary target audience for the podcasts were residents of Olmsted County, MN,
with an interest in learning about:
1) health and wellness;
2) community events;
3) opportunities for civic engagement;
4) biomedical research. The podcast featured guests from local agencies, non-
profits, the health department, community members, and academic researchers
(local, national, and international)
Podcast Hosting
SoundCloud.com was selected as the main hosting platform for the
podcast (21). This platform allows members to share audio-digital
content in the form of a podcast. It also allows broadcasters to create
albums and playlists for their recorded and posted content. Our
podcast was shared on iTunes through a plug of the RSS feed.
Podcast episodes are sharable over other forms of social media
Podcast Promotion
An open, searchable Facebook page, called Community Board was created for
consistency in branding the community-podcast initiative. The episodes were listed on
the
CEP WordPress blog (ocer.mayo.edu) and Twitter account An RSS feed was
used to ensure the podcast was accessible on mobile devices and computers
(11, 22). We shared information about new episodes via email and asked

community members, guests, and others interested in the topics to share the
podcast link with colleagues and stakeholders. The podcast stakeholders were
also members of the Olmsted County Community Needs Assessment Team
Assessing Podcast
Reach We assessed Podcast reach using available social media analytics from
SoundCloud.com and ourCEP Facebook and Twitter pages. The
Soundcloud.com analytics allowed us to capture information on social media
engagement (i.e., likes, reposts, and comments). Other analytics provided
information on
1) episode length in minutes and seconds;
2) number of times the podcast was played;
3) geographic location of listeners
Episodes are grouped by three focus areas (i.e., biomedical research,
art and cultural events, and local resources) and guest speakers’
geographic location. SPSS (24) was used to calculate descriptive
information including frequencies and measures of central tendency.
Results
The Community Board Podcast produced 45 episodes with 1,843 cumulative plays, with
728 of those plays occurring between February 2016 and June 2017 (Table 1). Our
Facebook page with72 followers reached 1,702 users. Just over half of the episodes
featured local speaker(s) from Olmsted County, MN (53%), with the other half of
speakers from organizations in the state of Minnesota (3%), from the U.S. (14%), and
outside the U.S. (4%). Biomedical research topics
garnered the greatest number of listeners (49%), followed by community
resource awareness (27%) and information on art and cultural events (24%)
Table 1. Podcast Episodes since February 2016

Table 2. Community Board Podcast First Six Months from February 14,
20116 to July 15, 2016
From February 2016 to June 2017, the five most frequently played podcasts were: 1)
Women’s Health-Uterine Fibroids (n=119); 2) The Great Lakes Inter-Tribal Council,

Incorporated (n=104); 3) Well connect SE MN (n=80); 4) Black History Month Meet the
Researcher – Cam ara Phyllis Jones, MD (n=72), and 5) Music is Medicine to the
People(n=66). The average episode length was 22 minutes and 19 seconds (SD: 12
minutes and 25 seconds). The podcast received 1846 cumulative plays between
February 2016 and June 2017. There were 1653 listeners in the United States, with 590
in Olmsted County, MN; 193 were from other countries. The top played episodes
featured guests with a strong social media presence. After publishing the episodes, we
linked them directly to our Word press Blog (ocer.mayo.edu), Facebook and Twitter
accounts, allowing the guests to share the posts with their stakeholders In addition to
determining the number of plays, we also wanted to see additional social media
engagement of the podcast. During the reporting period, we had 70 likes of the
podcasts, suggesting that these listeners ‘liked’ or enjoyed that episode. We also had a
total of 4 reposts from listeners to other social media sites. The analytics do not allow
usto see beyond one repost from our originating site, so it is possible there were further
shares or reposts, but they cannot be tracked. We had 3 listeners comment on episodes
and 3 listeners download episodes.
Discussion /Conclusion
Podcasts are an emerging dissemination strategy for dissemination of pertinent issues in the
community with potential to raise awareness and increase knowledge of health and wellness as
well as biomedical research. We purposefully selected podcasts as a social media platform
because they allowed us to create quality content with our stakeholders that are sharable within
the community without limitations of time, audience reach, geography, or weather. This platform
has proven to be effective with diverse communities. Olmsted County, MN is one of the more
diverse counties in MN with a nearly 60% increase in racial and ethnic minorities (25, 26). The
growing changes in our community have influenced the need to identify the most effective
methods to share information with community stakeholders related to health and wellness. The
increased use of mobile devices allows for academic medical centers new ways to connect with
stakeholders like patients, patient advocates and community members. This use of podcast in
our local community facilitated a new approach for promoting communication about and
awareness of biomedical research, cultural events, and information about local community
resources (14). Additionally, the Community Board Podcast’s reach extended beyond the local
community with downloads recorded through the U.S. and beyond. This unexpected reach is
notable because the topics reflected the interests of the local community, but also of a
larger global audience.Using the health priorities identified by community members
through the CHNA as the basis for the initial podcasts proved to be strength. These
topics then led to more direct conversations with stakeholders (i.e., community
members, patients, service providers, and biomedical researchers) on potential topics of
interest. Another strength was the ease in linking podcasts to other social media
platforms, which allowed a larger audience to experience, interact, and discuss the
podcasts in their own social networks. Unfortunately, we were unable to fully track the
depth of reach of our podcasts nor capture increases in knowledge of health information
or biomedical research due to limits in the ability of SoundCloud analytics to track posts
and reports. Future studies should use more in-depth analytic programs for tracking
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 Secondary Research Introduction

The objective of our project is to conduct a feasibility study addressing the
underlying business model of Upside. We will also be developing a statistical
model used to comparatively gauge the viability of potential cities Upside may
look to expand to in the future, in pursuit of their goal of expanding their
podcasts to more areas. This statistical model will serve to tie together our
secondary and primary research by utilizing findings from both to score cities
in certain areas, and ultimately rank them according to which are most likely
to be viable targets for Upside. Furthermore, we will be diving into the realm
of complementary products that could serve to aid Upside’s goal of expanding
their business and influence. We will work towards these goals through a
series of steps to ensure each aspect of the project progresses on schedule,
and so that we keep the end goal firmly in sight. We will compile the
secondary research that was previously mentioned about the business
podcast market throughout the fall semester. This will enable us to construct
our secondary research paper by the end of the fall semester. Throughout the
semester we transitioned from researching to developing a city-by-city
analysis including some primary research for Upside. In the spring, our focus
will shift to providing information on social media strategies, different revenue
models, and local support networks available for each of the recommended
cities. We have declared roles for our group to help us stay on track and
ensure that no responsibilities fall through the cracks. The project leader is
Nick, with the project communicator being Logan and the project
administrator being Sarah. These three individuals fo cusedon maintaining
direct contact with Upside and communicating with Dr. Fox, as well as
handling the official submissions of the various deliverables. Angela is the
project team monitor and makes sure the group is staying on track with due
dates, which are explained in more detail 3later. Our project team content
coordinator is Adam, whose main responsibility revolves around the
compilation and assembly of deliverables. On September 25th, we started the
project and declared weekly meeting times. We decided that this would best
be done on Microsoft Teams, with communications outside of our standard
meeting time being done through Group Me. Our project action plan template
was due on October 16thandserved as the basis for our oral presentation to
the class on October 23rdthat highlighted our progress on the project by that
point in time. By the 23rd, we would also have all our individual research
compiled within a Google Doc so that it may be assessed for integrity as well
as prevent duplication by October 30th. For the research, the sites used
included, but are not limited to: EBSCO host, Academic Search Complete,
Business Source Complete, IBIS World, Industry Report in Mintel, Google
Scholar, and public financial records. The team focused on completing the
secondary research project outline, to be turned in on October 30th. We
planned to have our first draft of the secondary research paper done by
November 6th, allowing ample time to revise and edit as needed before

 Background about Upside
Upside is a podcasting company, started by Eric Hornung and Jay Clouse, that
discusses startup investing opportunities outside of Silicon Valley. With a constantly
changing startup investing environment, Upside communicates with companies inside
and outside of the traditional startup ecosystem. Upside’s producers state, “We find
them, talk with them, and discuss the upside of investing in them.” (Call with Upside
.FM, 2020). New episodes come out every Wednesday, and an early-stage founder is
brought on to discuss their business and their industry in each of these episodes. The
founder is interviewed from the perspective of investors considering the company as an
investment opportunity. Each show includes three main segments with the guest. The
first is the introduction, which is independent research of the company to give listeners
some background information they may not be entirely familiar with. Next comes the
interview with the company's founder. Finally, there is a debriefing, which breaks down
the investment opportunity. Over time, the founders’ goals for the company have
changed as the company has. In the beginning, Eric and Jay said they wanted to “Learn
to think like venture capitalists, while building a “track record” and invest media attention
instead of money.” (Call with Upside.FM, 2020). This original goal of the founders was
adapted as time went on, first to “Become a
centralized new age media company focused on connecting founders and
entrepreneurs across communities.” Today, the goal of Upside is to “Launch a
nationwide network of geographically concentrated emerging business focused
podcasts to connect communities and nationally distribute local content” (Call with
Upside.FM, 2020). This continued evolution of the goal of the founders and where
they see Upside going mirrors the growth in the field of podcasting as a whole, as the
environment adapts to changing consumer tastes and overall increased interest and
participation.
Feasibility of Upside’s Current Podcast Model
The growing diversity within consumer communities is aiding in the end of the era of
standardization, and retailers are taking this as a cue to shift from standardized models
to more localized attention. This means thatthe retailers are beginning to tailor their
offerings to local markets by utilizing various types of storefronts, product ranges,
alternative pricing, marketing, and customer service approaches (Vishwanath & Rigby).
We see that this is as a promising model Upside could consider adopting moving
forward. A hope to gain increased influence outside of the Midwest accompanies the
goal of expanding Upside to one day having 30 to 50 different podcasts spread across
the country. Each potential city and area offersa unique landscape and opportunity, and
thus will require this type of tailoring on the part of Upside to meet the interest of the
area. The primary sources of revenue are advertising and sponsorship for Upside in
their current business model. Their sponsors, in general, are service-based businesses
with a high lifetime value looking to bring in new clients in their general area. The
listeners are a mix of industry professionals and aspirational customers who can be said
to have strong levels of business acumen and buying power. The relationships between
the sponsors and listeners in terms of their interests and fields of expertise serve to

benefit both parties, and additionally provides an attractive option for monetizing the
podcasts. One potential method for advertising is for a company to purchase an
annualized package to have their business run an advertisement at a certain point in
time during every episode. On average, this annualized advertisement approach brings
the company $35,000 in profit (net of the $20,000 paid for the slot and the $55,000
estimate from Upside), obviously making the cost for the advertisement slot well worth it
for both parties (Call with Upside.FM, 2020).Upside also has a classified page, where
advertisements cost $100. This classified page can be thought of in much the same way
that a classified page in a local newspaper works, serving as a reminder that this is still
a podcast dedicated to working with small businesses. Additionally, they employ a
podcasting technology called Megaphone which serves to fill available advertising slots
in the podcasts. This has been utilized often at the cost of 50% of the revenue, which
was discussed during an interview with Upside (Call with Upside.FM, 2020). While this
revenue splitting is not the most profitable option for Upside, it does allow them to
devote more of their time to the sponsors occupying the other advertisement slots.
National sponsors could take up an advertisement spot for up to an entire year, so it is
important to allocate additional effort into developing those relationships. At a local
level, law firms are a large source of sponsorship within cities andcould continue being
a popular field of advertisement for Upside moving forward. Typically, the type of cities
Upsidewill be looking to potentially expand into will have a handful of firms competingto
drive the need for advertisements. Other sources of sponsorship could be, but are not
limited to: commercial banks, investment banks, CPA firms, and commercial real estate
brokers. This gives Upside many opportunities to expand their current advertising
strategies within new cities working with new and diverse business types. These new
relationships with sponsors will allow Upside to expand their business while
maintainingthe feel of being a local podcast focused on businesses within the area.
an innovative model of combining public venture capital and rural entrepreneurial
support services
City-by-City Analysis and Podcast Listenership
For Upside to see continued success, they must choose their next location(s) wisely.
Because Upside focuses primarily upon interviewing up-and-coming local
businesses, it would be ideal for Upside to break into a city that has a thriving
community centered around this type of business. This is also advantageous
because Upside itself is still a startup, and so can grow alongside the community.
With this in mind, our team set out with the goal of creating a mathematical matrix to
definitively rank the viability of potential locations for Upside to expand future
podcasts into. Ultimately, our team based our matrix on the following six variables:
unemployment decay (at a state level), population growth (at a state level), federal
funding per capita (at a state level), small business per capita (at a county level),
venture capital investment (at a state level), and proximity to a large university. We
believe these six variables form a core foundation by which Upside can judge the
small business community within a particular area and gain an idea of if the area
would be the “right fit” for a podcast centered on discussing small businesses within
the area.The variable named “unemployment decay” serves to indicate the health of

the job market within each state. This formula showcases the amount by which the
unemployment rate within the state has “decayed” or declined from the level it was at
five years ago to the level it is at presently. This is done by subtracting the
unemployment rate of the state in 2015 from the unemployment rate within the state
in 2019, then dividing the resulting figure by the 2019 unemployment rate. Decline
year-over-year (or in this case, over the previous five years) can aid in determining
the stability and support within the community for those seeking work and the
availability of work. Allof these factors are important to building a startup friendly
ecosystem (Cohan, 2018).“Population growth” is a fairly standard concept by which
to gauge whether the community has recently gone through a period of growth or
contraction. This can be used to judge whether the present time is an ideal time to
look to engage with thiscommunity, if that ideal time has already passed, or if it is yet
to come. For our purposes, we have used this metric purely to measure the growth or
contraction of a population within the time period. In the future, this formula could be
adapted to incorporate the relative age of populations within the chosen area to
assess the second point; whether the area can be reasonably expected to expand or
contract in the near future. To do this, we would assess those areas whose
population skews younger as those more likely to expand in the future, while those
areas whose population skews older as those more likely to contract in the future.
This is based on the likelihood that the population of the area would be creating new
families or expanding their current ones in the future, with younger populations being
more likely than older populations to do so. This can be viewed as the study of
human capital within the area, which is important in fostering a growing startup
atmosphere (Závodská et al., 2014).“Federal funding per capita” is a variable by
which to evaluate governmental involvement and support on a state-by-state basis.
These funds are distributed to states for vital programs for resident daily needs,
Complementary Products
Along with analyzing the feasibility of Upside’s current business model,
our team was asked to generate ideas for additional products Upside
could offer. A few of these products are a podcasting app, education
initiatives at universities for podcasts, radio,or music influence on
podcasts, and, once Upside is big enough, focusing on a national tourism
podcast. All of these potential products depend on the sustainability of
Upside’s current business model and Upside having the resources
necessary to explore these new ventures. Our team also contemplated
complementary ideas Upside could use to grow their listening base, while
highlighting their overall goals. The first suggestion we have for Upside
would be to start their own podcast app. Although there are free options
for podcasting already available through providers like Apple or Spotify,
this app would be more directed to Upside’s target audience of white
males, aged 30-40. If Upside wereto offer their own podcast app, they
could customize it with features that accentuate their business goals.
Podcasting apps themselves have matured overtime with the increase in

listeners (Fleishman, 2018). These apps have needed to adapt and
change to accommodate needs of consumers. With free podcasting apps
still being available, if Upside would charge for their app, they would need
to offer something their listeners would be willing to pay for. One way to do
this would be to utilize “a trim silences option, better chapter support, a
rewritten voice enhancer, and per-podcast settings for several controls,”
(Fleishman, 2018). This would also lead into the possibility of having
listeners pay for an add-free version of the app. Listeners would have the
ability to enhance their app, making it more of an experience to listen to
something in a familiar setting, and match their desired listening
experience. By offering their own podcast app, Upside would be able to
gain recognition within their audience. Their target audience would be able
to keep track of all shows and episodes Upside has to offer in a simple to
use app, rather than having to navigate the mobile platform of a website.
The next idea our team has for Upside is to utilize radio and music
influences on podcasting. By accomplishing this, Upside would be able to
reach a wider audience, outside of their normal listeners. This could have
the potential to not only grow their audience, but also increase their
revenues to put back into the business. Berry (2020) describes the attitude
toward podcast development as a “medium that is increasingly
professionalized and oriented towards a group ofrising walled-garden
services.” Podcasters must be able to define themselves in the digital
world, as technology is the norm. The purpose of using influences from
radio and music on podcasting is to “convert new people to the joys of
Gap Analysis and Transition to Primary Research
As we transition from the secondary research component of our project to
the primary research component, we would like to highlight a few areas
that we will be devoting attention to moving forward to address gaps within
our secondary research as it relates to our end goal. One of these gaps is
the need for additional research pertaining to the revenue models of
similar podcasting companies to examine and potentially draw inspiration
from as we consider how to enhance Upside’s current model. This may
require interviews or surveys of these similar companies, ideally multiple
in order to get a more holistic picture of common strategies within the
industry along with the strengths and weaknesses they entail. Additionally,
we will be looking into Upside’s current strategy regarding their company
marketing, with specific emphasis on their foothold in the social media

space. We believe the strengthening of their social media presence
through a better utilization of common marketing techniques would then
strengthen their foothold within the business podcasting space. Again, we
would be utilizing surveys and interviews to work towards this goal,
however we would be targeting those would be most likely to listen to the
podcast, additional demographics we feel would lend beneficial insight,
and business professionals within the marketing world to grant us a
diverse and well-rounded backbone of information from which we can
draw conclusions. Finally, gaining a more detailed understanding of the
sentiments of those within the communities Upside is currently in (name
lyNortheast Ohio) and those we have found to be strong candidates for
expansion (namely Florida) is vital to ensuring we are interpreting our
findings correctly, and that our findings are accurate. So that we do
notrush to conclusions, we will be attempting to gain further information
through surveying business professionals and students within the areas
mentioned to have a wealth of information to draw from regarding our
ideas. Additionally, this will also entail going through organizations such as
Chambers of Commerce seeking further information on the business
sector within these specific locations as well. Our secondary research has
afforded us a clear view of the road ahead, the primary research will serve
to pave this road and cement our path towards as bright of a future for
Upside as we can find.
Feasibility of Podcasts and City by City Analysis for Upside.FM
Primary Research Introduction
The purpose of this project is to further understand the results of the
secondary research conducted for Upside.FM and augment them with
primary research conducted this semester. We will use the secondary
research that was collected throughout the fall semester to narrow our
focus regarding primary research. Our team will be conducting research to
determine if the cities identified as viable expansion targets for Upside by
our city-by-city analysis are feasible. We will also be conducting a study
regarding the complementary products we suggested that Upside could
potentially offer. Our team will be distributing two identical surveys, one
through the University of Akron and another through a platform called
Cloud Research. This is designed to gain samples of data from two
different populations and test how these different populations of
individuals respond to various prompts, as will be discussed later. We will
then be using NVivo to augment the secondary research supporting our
city-by-city analysis by gaininginsight into the support available to small
businesses. This allows for a more well-rounded view of the area and how

amiable it is towards the growth of small businesses, a necessary
component when determining if a local business-focused podcast will
succeed in the area. This primary research will take place over the course
of the spring semester. Before beginning our research, we declared roles
for our group to help us stay on track and ensure that no responsibilities
fall through the cracks. The project leader is Nick, with the project
communicator being Logan and the project administrator being Sarah.
These three are responsible for direct communication with Upside and
with Dr. Fox, as well as handling the official submissions of the various
deliverables. Angela is the project team monitor and makes sure the group
is staying on track with due dates, as is explained in more detail later. Our
project team content coordinator is Adam, whose main responsibility is to
monitor the assembly of deliver ables. On January 15th, we began
planning for our primary research based on our secondary research
findings. At this time, we declared weekly meeting times to be on Friday’s,
the same as last semester so that we could have a consistent schedule.
We also reassessed our team roles to ensure all members understood
their roles and responsibilities. We decided to continue our use of
Microsoft Teams, with communications outside of our standard meeting
time being done through Group Me. On January 29th, our group met to
discuss the timeline of our project and update our action plan. Similarly,
we met on February 12th to plan our budget needs. We requested a total
of $350.00 to fund the NVivo student subscription and Cloud Research
surveys. We planned to utilize these two platforms to aid us with the data
collection process to support our secondary research findings. We will
present our findings on April 23rd and turn in the presentation to Bright
space. We will use the data collected throughout the semester to write the
following primary research paper and turn it in by April 28th. When
Conclusion
In total, our research findings through the survey show that there is a
significant population of podcast listeners interested in the industry itself.
Additionally, by having credible data, one can narrow down the specific
important components for certain users. According to the survey, there is
a substantial group that appreciates and utilizes corresponding visual
components to podcasts. Therefore, further investing in the needs of this
audience segment and introducing a corresponding visual option is key to
expanding and acquiring a larger and perhaps more diverse audience.
Additionally, upon analysis of each midwestern city, it is clear that
expansion into Minneapolis, Pittsburgh, Kansas City, and Indianapolis
would be jointly advantageous for Upside.fm and the burgeoning start-up
and emerging businesses scenes in each respective municipality. By
continuing to interact and form relationships with local experts, Upside.fm
can acquire a more nuanced and complete view of what makes each city
such a strong contender and will, likewise, position Upside.fm on the

cutting edge of American enterprise as a facilitator and supporter of
emerging businesses in the Midwest
 Qualtrics Survey Responses

BIBLIOGRAPHY
https://podcastbusinessjournal.com/conducting-a-feasibility-analysis-of-your-branded-podcast/
http://www.questgarden.com/35/39/4/061110014222/conclusion.htm
http://www.google.com

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