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Commonwealth Bank Sells Life Unit to AIA for A$3.8b Commonwealth Bank of Australia sold its life insurance business in Australia and New Zealand to AIA Group Ltd. for A$3.8 billion ($3.1 billion) and said it was considering a potential spin-off of its global asset management business. Abu Dhabi's Adnoc Considers IPO for Shipping Business Abu Dhabi National Oil Co. is considering a plan to sell shares in its shipping unitas part of a broader strategy to attract investment into the emirate that pumps most of the crude in the United Arab Emirates, according to people with knowledge of the pr Podcasts Democratized Radio. Now PRX Wants To Democratize Podcasts When PRX set up shop on Western Avenue in Boston as part of a Harvard initiative called Zone 3, the public media nonprofit wasn’t sure what would come of it. Harvard had asked if PRX might create a pop-up listening experience. PRX countered with a proposal for a low-cost, community-based podcast incubator and studio space, which they christened the Podcast Garage—named for its Silicon Valley-esque origins in an actual garage. The hope was to create a facility that would help lower the barriers to entry for podcasting and teach people how to do it successfully, and so far it’s working: Since opening its doors last August, the Podcast Garage has given rise to 17 new podcasts. At $35 for a monthly membership, the space is within reach for newcomers looking to dabble in podcasting as well as more seasoned podcasters seeking studio space. Kerri Hoffman, PRX’s CEO, says it’s been attracting an eclectic mix of both. “We actually have a pretty good pulse on the audio community, but some of these people were new to us,” she tells Fast Company . [Photo: Natasha Moustache, courtesy of PRX] As the Podcast Garage celebrates its first anniversary, PRX is looking to replicate the model in other cities—presumably the likes of Los Angeles and New York, where Hoffman says there is, unsurpisingly, a lot of demand for a space like the Podcast Garage. “There’s a tagline PRX used in the early days of the organization where we used to say that ‘PRX was making public radio more public,’ Hoffman says. “I actually think that podcasting is that low barrier.” That’s true: Podcasting as a form of storytelling is already democratized. You can start a podcast if you have the time and resources. But a return on that investment—cultivating an audience, inking the right sponsorships, and turning a podcast into a money-making venture—is a much tougher proposition. Downloads to Dollars As with other media platforms, making money from podcasts requires marketing and financial know-how that a fledgling producer won’t necessarily have. Popular political podcasts like Pod Save America and Slate Political Gabfest reportedly bring in upwards of $1 million in annual revenue because each episode draws hundreds of thousands of downloads. “It’s really hard to make money on a podcast that’s smaller than, let’s say, 50,000 downloads,” Hoffman says. “It just is. The math just doesn’t work out and it’s not worth it, quite frankly.
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NEWEST BUSINESSES FOR SALE
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Contact The Business Broker Journal Network:
|Coldwell Banker Mergers & Acquisitions |
Coldwell Banker Mergers & Acquisitions brings together buyers and sellers of businesses across the United States, from main street to the mid-market
|BTI Group / Business Team |
Business Team, a unit of BTI Group, is the largest Business
Brokerage firm in the Western United States specializing in arranging
the purchase and sale of privately owned companies
|Sunbelt Business Brokers of Atlanta |
Sunbelt Business Brokers offers professional and reliable services for clients who are interested in buying and selling privately held businesses, mergers & acquisitions in the Atlanta, Georgia areas.
|Lakes Business Group, Inc |
Confidential, discreet professional services to privately held business
owners.Specialists in 401k/IRA business funding.VR has sold more
businesses in the world than anyone.®