Podca$H Launches as a New Sponsorship Initiative to Give New and Emerging Podcasters an Opportunity to Fund Their Projects
In partnership with Stir, Racket will be giving away up to $100K in sponsorship dollars to kickstart their goals, no strings attached
Racket, the short-form social audio platform, in partnership with the financial platform for creatives, Stir, today announced the launch of Podca$h, a program giving away $100,000 in sponsorship dollars to up and coming podcasters and the podcast-curious. By limiting applications to unproven and/or yet-to-be-launched podcasts, Podca$h aims to support the creators who are being left out of the podcast economy to help fund their podcast or develop a new one without restrictions.
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While over 80% of the top 100 podcasts in iTunes right now are dominated by celebrities and large media entities, less than 1 million people are actively podcasting due to roadblocks with getting a podcast off the ground. Racket believes all voices need a spot at the top.
“We designed Racket to give anyone with a good idea a platform to have their voices heard in an easily digestible format, and Podca$h is an extension of that mission,” said Austin Petersmith, Founder and CEO of Racket. “With Podca$h, we’re hoping to help close the financial gap by giving overlooked creatives the support and opportunity to kickstart their plans and get their voices heard. We’re thrilled to partner with Stir, who shares our vision and passion, and to work closely with our elite group of panelists to bring ideas to life.”
Podcasts typically take months of preparation and a long, slow grind to actually build an audience. Depending on the type of recording equipment and editing tools needed – whether that be a $50 microphone, a $500 annual payment for hosting and software subscriptions, and access to a soundproof recording space – the financial investment alone significantly decreases the pool of creators.
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“Our mission at Stir is to empower creators to start and run great businesses and we believe Racket is the perfect partner since our values are so aligned,” said Joseph Albanese, CEO at Stir. “With Podca$h, we’re expanding opportunities for rising audio creators to get the equipment and notoriety they need to make an impact.”
Currently open to US residents over the age of 18, applicants must share their idea for a podcast or have had less than $10k in sponsorships for an already established podcast. Up to 100 podcasts enthusiasts will be selected, with individuals receiving anywhere from $250 to $5,000. Winners will be selected by a committee of industry executives, top creators, and thought-leaders including Jason Calacanis (Angel Investor, Co-Host of All-In, and Host of This Week in Startups), Bradley Davis (Founder/CEO, Podchaser), Kat Cole (COO Athletic Greens), and Humble the Poet, and announced starting on March 25th, 2022. All sponsorship money will be paid out using Pay, Stir’s fee-free payments product for creators.
The deadline to apply is March 4th, 2022. For more information and Official Rules & Guidelines, please visit podcash.com.
The LA-based social audio app, has recently raised $3MM in pre-seed funding prior to their Racket iOS app launch in November. Notable Investors include Greycroft, Foundation Capital, LightShed Ventures, LAUNCH, Tribe Capital, Loup Ventures, Active Capital, and LaurDIY.
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