Mike Sheridan said:
The big problem with internet radio is finding the audience or the audience finding you.
For a music station, I would agree, but I think a lot of the potential of netcasting, as it is with blogs, is in the super-super-super-niche market. Heck, is it even possible to develop an audience if you're the 18,234th "Great Oldies" station in the world? I don't think so, mainly because the nature of netcasting means there will be thousands of stations covering every available mainstream format and genre.
That said, I can absolutely guarantee you'll find an audience if you start doing a show on border collies. Or klingons. Or the Supreme Court. Or Norwegian folk dancing.
That's the kind of gloriously diverse programming netcasting will make possible. If you have enough familiarity with a sub-culture or fan group to produce a radio show for them you already know the online hangouts they frequent.
I've been doing a short, ten to twenty minute show focused on a particular online game for just over a year now. The highest number of downloads for an episode I've ever received in a single week is just under 3000, but I've been able to pull down a goodly chunk of change with advertising. Why? Because my advertisers sell a product that is
only of use to players of the game and no one else. Before my super-super-super-niche show they had to spend money on wasteful web ads at gaming sites. Now they have an advertising vehicle where every member of the audience is pre-qualified to have a use for their product.
That's the kind of market I think netcasting will make millions off of. It's not traditonal "radio", but it's also the ultimate expression of what radio is all about- connecting with an audience.
Your friend forever,
Biggus
P. S. - As an aside, Kevin Kelly's "1000 True Fans" is a brilliant theory of super-serving a niche market to make a living. It's not about radio or netcasting directly, but I think the parallels are obvious. You can read it over here-
http://www.kk.org/thetechnium/archives/2008/03/1000_true_fans.php