Some podcast guests are paying upwards of $50,000 to be interviewed on a show, according to a new Bloomberg report.
Why it matters: The practice appears to be popular among business, cryptocurrency and wellness genres with few listeners actually aware of it.
- The lack of specific disclosures of paid appearances can only further erode trust in media and content.
How it works: Podcasters like Dave Asprey of "The Human Upgrade" told Bloomberg about 1% of his episodes feature paying guests who on average pay him $50,000 per appearance.
- Lifestyle podcast "The Skinny Confidential Him and Her," charges $20,000 to $40,000 an interview.
- The "Entrepreneurs on Fire" podcast currently charges $3,500 for an appearance.
- Podcasters pay guests too. Boxer Manny Pacquiao for example charges $15,000 for an appearance.
The rationale: Podcasters practicing this business model tell Bloomberg that the payments serve as a filtering tool or as a substitute for traditional sponsored ad costs.
Our thought bubble, via Axios' Sara Fischer and Tim Baysinger: The podcast industry — similarly to the influencer industry on social media — is taking advantage of a gap in oversight when it comes to how companies and individuals accept paid promotion.
- There are clearer definitions for sponsored posts, ads and paid contributors on traditional mediums like newspapers, television shows and display ads.