Podcast Hatchery Season 3 Budget

Title: Podcast Hatchery Season 3 Budget

Authors: Soundman, EurekaJohn,

Date Created: 12/20/21

Date Posted: 12/20/21

The Podcast Hatchery is requesting 306,000 Bank to fund the Hatchery through season 3. In S2 we Funded 3 shows (75k Bank to Making Bank, 50k Bank to Green Pilled, 75K Bank to The Crypto Life) Since funding for this project was so late in season 2 these shows are just starting to budget their allocations and build their show teams. We will plan on coming back to Grants Committee later in Season 3 to ask for additional funding to bring more shows in during season 3 and for more funding for the above mentioned shows after they have started delivering episodes with their existing budget from S2.

Since being funded we have defined the roles and compensation structure needed to be most effective going forward as outlined below.

Hatchery Program Roles:
This is the overhead for running the program; its focus is on making sure the podcast teams have what they need to be successful and making sure we can continue getting funding while building this out. Added resource Models of Strategic HRM

Overhead Roles are limited to 1 Role per person at a time. You are still able to hold roles on shows within the hatchery this limit is meant to encourage diversity within the program leads and make sure no one is taking on too much overhead work.

Hatchery Project Manager - Responsible for leading weekly meetings and keeping them on point, making sure the notion page is up to date for the program and shows, managing the hatchery budget for overhead costs, making sure software subscriptions are paid, - 4 hours a week

Secretary/Liaison - Keep detailed notes during the weekly meeting, start the recording bot and upload to the appropriate location, be the voice of the hatchery program in the sense of when people ask questions about how to get involved or just general questions about the hatchery this is the person to direct those people to ask those questions to if you can’t answer them yourself. - 5 hours a week

Marketing Lead - focalizes the Marketing Working Group for all the shows in the hatchery program they don’t need to do all the work they should delegate with bounties but they should be the one managing the processes for each show and making sure the work gets done regardless of who is doing it. - 7 hours a week

Graphic Design Lead - Similar to marketing in that they are there to serve the design needs of all the shows under the hatchery program but should delegate the work that needs to be done to other designers (doesnt mean they cant do some but you get the idea) - 7 hours a week

A/V Lead - Responsible for providing technical help to podcasts to make sure we can maintain professional quality, responsible for vetting audio engineers and vouching for them to be assigned to work on shows. - 6 hours a week

Creative Lead - The Creative Lead is a resource for all the shows inside the Hatchery as well as applicants. Their main purpose is to promote a unified vision across shows in the Hatchery so that each show finds its fit. Part of this is working with show creators to refine ideas in the early stages. Learning what niches are under represented and encouraging new applicants to focus on these areas can be another big part of this role. - 7 hours a week

Revenue Lead - Their key responsibilities is building out the revenue model for how to start selling sponsorships so when we have podcasts ready we can monetize them asap - 4 hours a week

Weekly general Meeting Pool for non role holders distributed via coordinape at the end of the season - 10k bank per season

Working Group Meeting Pool distributed via coordinape at the end of the season eligible for role holders and non role holders who contributed to working group sessions - 5k bank per season

Bounty Budget primarily meant for marketing lead and graphic design lead to use to get their perspective guild members to do work as requested from the shows in the hatchery - 21K Bank

Total Weekly Budget for roles: 40 hours
Seasonally = 520 Hours (500 Bank Per Hour?) plus 15k bank for meetings pools and 21K for bounties and 10k for software = 306,000 Bank
Program Monthly Software Overhead:
Ecastr - $15 (4 persistent links should cover 4 shows)
Descript - $120 based on $15 (per seat) (recommending overhead covers 2 seats per show)
Podbean - $125

Monthly Cost x 3.25 (13 weeks ish)
Seasonally: $845 - 8,450 Bank (based on 0.1 usd per bank) Lets call it 10k Bank to cover anything we missed and it rolls over to the next season budget if its not used.
Per Show Roles:
Naming conventions taken from this article and adapted to fit our needs as I dont think it makes sense at this stage to include every one of these roles for every show in the podcast hatchery Who Does What on a Podcast Team – News – Spotify for Podcasters

Show Creator/Host -
“The host is, naturally, the person out front, setting the editorial tone of the show. As the voice most synonymous with a podcast, they carry the majority of the audience-facing responsibilities—basically, they are the storyteller, and they shape the show through their editorial decisions and personality. They’ll narrate the scripts and feature stories they receive from producers and writers and will also get involved in production processes to different degrees, but as the person communicating with the listeners the most, hosts spend much of their time preparing for interviews, and writing and editing their scripts. In some cases, there’s more than one host; co-hosting can be a great way to develop a lively dynamic for a show.”

Executive producer (aka The Showrunner)
“Executive producers are the ultimate decision-makers for all aspects of a podcast’s production and delivery. They’re problem-solvers, responding to the inevitable snags that come up, and they manage the production schedule—both on a day-by-day basis, and in terms of season planning. The EP also manages the relationships between folks on the production team and helps define their individual responsibilities. They work with the host and writers to develop reporting approaches, and as the person who works most closely with the host, the EP oversees script development and directs the host during recording sessions. They also manage budgets.”

Editor/Producer - This role is all about the content from pre production of an episode to editing afterwards (using descript to edit the transcription which also edits the audio and or video) If you read the above article I am adding these roles together as I think until we grow larger this makes sense to consolidate these roles

Engineer - Takes the final edit from descript (content is locked at this point) and delivers a final mix for podbean

Hatchery Weekly meeting expectations:
Hatchery weekly meetings, who is expected to attend and compensation structure:

All Hatchery Program Role Holders (not show role holders) - Compensation is part of their role

The Executive Producer of each show (other show specific role holders are free to attend but not expected to) - Compensation is part of their role

Anyone who wants to join the meetings is welcome to attend and contribute. A small pool of bank will be budgeted to compensate non role holders who contribute in these meetings. It will be distributed through a coordinape round at the end of the season eligible only to non role holders (role holders are expected to attend as part of their role)

Show Specific Weekly meetings

I don’t want to require each show to have their own weekly meeting but it is highly suggested to do so to get the team working well together. I dont want meetings for meetings sake so if it isnt productive then no need to continue. Compensation for team meetings included in role compensation no pool for non role holders if they wish to attend they should know there is no compensation for doing so.

Overhead Budget Breakdown Per Season:
Overhead Roles - 520 hours @500 Bank Per - 260,000 Bank
Meeting Pools - 15,000 Bank
Bounties - 21,000 Bank
Software - 10,000 Bank

Total: 306,000 Bank

To deliver some podcasts!! also we will continue iterating on processes as we grow.

306,000 Bank

Right now our success metric is whether we can deliver on creating the podcasts and I have no doubt that we can. In the future when we have shows established and delivering weekly episodes we will focus more on monetizing them and we already have a role that is meant to build out that process in place with this budget.