Funding is one of the most important aspects when it comes to several things. I will need to look at my funding aspects for my radio podcast. Funding doesn't necessarily have to come out of peoples personal money/pockets. These things are:
- Crowdfunding: This is when people in the public help put money towards whatever people are putting a crowdfund up for. This can be done on websites such as GoFundMe. This type of funding is never accurate as there is also uncertainty of if the public can help reach the goals needed, whether that is for peoples health or even businesses.
- Advertisements: Businesses use advertisement in order to raise brand awareness and increase sales, this allows the advertisement to give a chance to business or in our case my radio podcast income of some sort to help cover costs.
- sponsorship: Sponsorships is when business people join another company in order to help boost the advertisements faster. For instance with my radio podcast, if i had partnered up with someone I will need to promote what they wish and want me to promote at some stage of my podcast which gives me an additional income at the end.
- Grants: Grants is when the government support the business by funding/helping set up funds and spreading them to the public or for the public.
Overall, I believe that advertisement will work best in my favour for my radio podcast as it will be smoother then having the other funding elements interrupting my podcast along with interrupting the audience from there entertainment which is not what they will be satisfied with.
This is for unit 14 and 16
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