Value Time Split Introduction
Podcasting has undergone a transformation that’s as revolutionary as it is evolutionary. With the advent of Podcasting 2.0 and the expansion of features contained within a podcast RSS feed, the landscape is morphing, offering a buffet of features that enhance listener experience and open up new monetization avenues for creators. One of the core elements of this change is the Value4Value (V4V) model, a direct and transparent monetary connection between the audience and the podcaster.
The Birth of a Movement
The Podcast Namespace and the Podcast Index sparked a revolution with a vision to preserve and nurture the open, independent podcasting ecosystem. Now, it’s not just a project but a movement where companies like Blubrry Podcasting are integrating Podcasting 2.0 features that will transform podcasting.
Value 4 Value: A New Monetization Model
V4V is one of the cornerstones of this new standard, allowing podcasters to receive payments from their fans directly. Imagine streaming payments and boosts for special moments in an episode, complete with boostagrams—little comments that add a personal touch.
What is a Boost or Boostagram
A boostagram is a feature that allows listeners to send messages to podcast creators along with their monetary support (usually in the form of small cryptocurrency payments). When a listener feels mainly engaged or wishes to support a podcast episode, they can send a “boost,” a micro financial transaction.
Accompanying this transaction, they can include a boostagram—a text message that might offer feedback, appreciation, or any other commentary they wish to share with the creator.
This feature serves multiple purposes:
Support: It provides a direct way for listeners to support podcast creators financially.
Engagement: It offers a channel for listeners to engage with the content and the creator more meaningfully.
Feedback: Creators can receive immediate and actionable feedback from their audience, informing future content.
The Value Tag: The Initial Step to Monetization
Podcasters at Blubrry can set up a value tag for an entire episode on all our publishing platforms, defining how to split incoming payments among recipients automatically. It was a step towards equitable compensation, but it was limited, mainly when episodes featured multiple contributors talked or showcased at various times in the episode.
Value Time Split: The Real-time Payment Attribution
Enter the value time split, a feature allowing dynamic payment splits that respect the content’s source. By adding a time element at the appropriate part of the show along with external content components, creators can now specify different value splits for various parts of their content.
For example, you play a track of Podsafe music, and the artist has a value block in their album’s podcast feed. You can look up the artist in the Blubrry VTS menu and track and apply it to the time block you played the track. Any boosts or streaming sites that come in are shared with the artist.
Support does not have to be limited to musicians. It could be any external source, like an episode on another show, an audiobook, or an external blog post. So long as there is an associated RSS feed and a value block, you can apply a VTS.
Value Time Split in Action
Content creators, especially in music, can now set up value tags per song or segment, directing payments precisely. The Boostagram Ball by Adam Curry exemplifies this, where each song played has its value tag, and for those streaming sats or boosting during the track, the artist is compensated.
Supporting the Artists and Beyond
The natural beauty of this system is its empowerment of artists. Payments go directly to creators’ wallets whenever their content plays on any podcast, circumventing traditional labels and organizations with complete transaction transparency and who received what percentage of the listener support.
The Technical Backbone: RSS Feeds and Digital Wallets
At the heart of it all is the Podcast RSS feed, Music RSS feed, and AudioBook RSS feed using the same technology that a podcast is published, allowing creators to receive payments for various content types when paired with a digital wallet. The technology we have been using for nearly 20 years allows for specifying different medium types to facilitate a new monetization model.
Apps Galore: From Creators to Consumers
Whether you’re an artist setting up your RSS feed on Wavlake or a music podcast host referencing value tags in your episodes, the system supports you. For listeners, apps like Castamatic, CurioCaster, and Podverse make using this feature a breeze.
Background on Streaming Sats
“Streaming sats” in podcasting is a concept that comes from integrating cryptocurrency, specifically Bitcoin, into the world of podcasting. “Sats” is short for “satoshis,” which are the smallest unit of Bitcoin (BTC), named after its pseudonymous creator, Satoshi Nakamoto. One Bitcoin is equal to 100 million satoshis.
In the context of podcasting, streaming sats refers to the ability for listeners to support their favorite podcast creators by streaming micropayments of satoshis to them in real-time as they listen to podcast episodes. This is made possible by Podcasting 2.0-enabled apps and platforms like Blubrry Podcasting that integrate with the Bitcoin Lightning Network, a second-layer solution built on top of the Bitcoin blockchain designed for fast and micro-transactions.
Here’s how streaming sats works:
Listener Setup: A listener sets up a GetAlby wallet and funds that wallet. Our founder likens it to getting tokens that listeners can utilize to support podcasts that he loves, and while the tokens (sats) have value, he can then distribute them as he chooses.
Listening to Podcasts: As listeners listen to a podcast episode on a compatible app @ podcastapps.com, listeners can opt to stream a certain number of satoshis per minute to the creator.
Value4Value Exchange: This creates a value-for-value exchange where listeners can directly support creators without intermediaries. Instead of, or in addition to, traditional advertising or subscription models, creators can earn money instantly from their audience.
Streaming sats enables immediate, low-fee transactions, making sending small amounts of money feasible, which would be impractical with traditional payment systems due to higher fees. This model empowers listeners to support valuable content and allows podcasters to monetize their work in a decentralized and user-centric way.
Conclusion
Now that you know about Boost, Boostagrams, and Streaming Sats, you are ready to participate as a podcaster or a listener. As a podcaster, you can share the wealth with your guests and any content you want to apply a value time split to support the entire creator ecosystem.
The value time split is not just a feature; it’s a paradigm shift. It’s an economic model that fosters a direct bond between creators and consumers, and it’s just getting started. With pioneers already onboard and many more to come, the future of podcast monetization is here, and it’s full of potential.