I tell you about Vienna
and how I discovered a possible way to monetize “Erzähl mir von Wien”.
When I first prompted my friend and colleague Fritzi Kraus to “tell me about Vienna” (Erzähl mir von Wien) one idle summer afternoon in 2018, I didn´t expect to hear me say this phrase on public radio, seeing it as a logo displayed on national TV or reading stories about the two of us quite regularly in newspapers, magazines, and online media outlets.
What started as an attempt to understand the magic of podcasts turned into the Erzähl mir von Wien, one of the most successful independent podcasts in Austria.
But I’m not gonna tell you about the glory of producing an amazing, well-loved podcast.
This post is about what happened when I realised that love and air don’t pay the rent for a studio or even a new microphone. It´s about what happened when I entered the Journalism Creators Program at CUNY J-School with the quest on how to turn downloads into dough.
How to make money out of a podcast?
Generally, the preconditions for making money with “Erzähl mir von Wien” are good: The podcast has a clear focus and concept (telling anecdotes about Vienna and its neighborhoods), a well-defined target group (Viennese and German-speaking Vienna lovers around the world), and engaged and loyal listeners (online and offline). The concept of telling stories about Austria’s capital is flexible and adaptable to numerous neighbourhoods, topics, events, or decades.
It should be a bonanza!
From the early days on, I had implemented various strategies on how to monetize our podcast: I set up options for micropayments and subscriptions, companies of different sizes book pre-rolls and ads, we perform at live events, and offer guided tours and merch.
But, literally, all the efforts didn´t pay off. Money came in, but it was little. A variety of factors may be quoted, such as “the willingness to pay regularly for online/audio content is low”, “use and knowledge on podcasts are on the rise but still and restricted in Austria”, etc.
I had to re-evaluate my strategy.
I sought pieces of good advice from colleagues who had walked the path of becoming media entrepreneurs — and found them in another great city: New York.
During these 100 days of the Entrepreneurial Journalism Creators Program, step-by-step, unit by unit, input-by-input, experts, colleagues, and friends challenged me to dismantle my podcast project. I had to scrutinize topics I had previously had taken for granted: What do I know about my listeners? Are they really my target group? What is the setting, the right surroundings for my podcast? What is the “one component” that distinguishes our podcast from others? What are further potential partners (for distribution, marketing, etc.)? What components may be finetuned — which ones added?
But also questions regarding my personal life and my daily routines emerged: How do I organise my schedule(s)? What should I drop? What tasks can I delegate? (“I shall delegate??? O_O”) When is the right time for all of this? And how to keep, after all, a sane work-life balance?
I asked and considered and read and looked at my laptop screen. I wrote concepts, sticked post-its in my living room, and talked about them with colleagues and partners from Vienna and around the globe. After some weeks of evaluation, reconsideration, communication, I realised the disappointing truth:
“Under the circumstances given, this podcast will never pay off.”
I accepted that this podcast might never be more than a very time and energy-consuming hobby.
Looking for waymakers and defining the product
But then, around Day 40 of this 100-day journey, Michelle Young & Augustin Pasquet, creators and founders of Untapped New York, lectured at the EJCP.
Their lectures were a game changer for my view on my podcasting business. Their input on how they turned their online magazine about New York’s background stories into an agency for local tours encouraged me to consider a different perspective on Vienna’s background stories.
I realized, that I had to stop trying to monetize the podcast itself, but, instead, create a product that embraces the idea of the podcast and is actually to sell.
What an AHA moment!
I reconsidered the project “Tell me about Vienna” another time with my partner, and finally, we got it: We shall re-edit pieces of the podcast episodes and create an audio city guide embracing and featuring the content we already have. That way, I can continue having fun with my lovely podcast while also creating a new, scalable product that may well be distributed along with commercial aspects and eventually generate money.
The city guide shall be available via an existing smartphone app for museums and tours, integrating also location-based services and other amenities for listeners. And, most important, it has a clear cost model. Concrete steps to develop the product may be taken. The journey may be planned and scheduled along with different aspects and clear — economic — milestones. What a relief.
What I’ll take along from my journey to NYC
So what did I learn — from Michelle, Augustin, and all the other wonderful and inspirational colleagues and their insights:
First, that you have to design and invest in developing a concrete product — Something that incorporates the idea/the core of the journalistic product but is stand-alone, measurable, marketable.
You won´t make money with journalism.
But you can make journalism worth the money!
Second, that it helps to collaborate, communicate, share ideas, talk to lots of different people, listen carefully to their stories, extract learnings, and adapt them to your situation.
You'll hear from us
How will my journey continue? The direction is clear now: It’s Vienna-bound. There are some concrete next steps I will take — producing a dummy guide, setting up a cost model, tuning costs, time and economic factors, seeking assistance for editing, producing, testing, reevaluating…
Other paths are to be discovered But as always when on an inspirational trip:
It's also the journey that is the reward.
About the podcast “Erzähl mir von Wien”
Within each of the podcast’s episodes, historian and city guide Fritzi Kraus and journalist Edith Michaeler stroll around Viennese neigbourhoods, talking about its history and sharing ideas, anecdotes and memories.
- The German-speaking podcast is listed and to be followed on all relevant podcast players e.g. Spotify under “Erzähl mir von Wien”.
- You may also listen to its episodes on the website www.erzaehlmirvon.wien.
- The social media handle on Facebook and Instagram is @erzaehlmirvonwien.
- Subscribe also to our newsletter on Substack for insights and live events.
Who we are and how it began
Fritzi Kraus (@krausfritzi) was born in the middle of the 20th century in Vienna and since then she has lived there. She a city guide and historian — and a great storyteller.
Edith Michaeler (@ed_mich) is one generation younger than Fritzi. She is a trained journalist, curious media innovator as well as historian and Vienna lover.
They met at the organization they are both working for: fjum_forum journalismus und medien, a European journalism hub based in Vienna/ Austria (www.fjum-wien.at).
Special thanks to Simon Kravagna, CEO of fjum, for the possibility to take part in the Journalism Creators Program!
