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What is the revenue recognition principle?

As part of my business series on the blog, here is an info-graphic covering revenue recognition. As some of you know, revenue recognition has a special place in my heart as I audited revenue for a software company in the bay area.  I had to know these principles like that back of my hand. If you are hoping to run a business with investors, you may want to know some of this too. Without further adieu, the info graphic and intro by Ghergich & Co.

When it comes to plotting out your next steps as a business, there are a lot of factors that come into play. Of course, you need to understand expenses and employees and demand and customers, but you also need to figure out what to do about revenue — and by that I mean, what do you do about recognizing revenue.

There are a number of different established accounting principles that are acceptable and that can guide you in figuring out what’s best for your business. For example, you can recognize the revenue after you have completed the obligat…

What is Gumball?

As you probably know, this blog isn’t just a blog, it is a podcast as well. I want to try to share some of the insights I have come across. Today I want to focus on a particular service, Gumball.

So what is Gumball?

Gumball is a platform created by the podcast company Headgum (you know, the podcast network created by Jake and Amir, the comedy duo on CollegeHumor) to connect advertisers and podcasters. If you want a host read ad, you can sign up and purchase one. If you are a podcast host, you can sign up to be approached by a company to read an ad and receive payment. I think this idea is pretty genius, honestly. It is a little surprising there aren’t more services like this. As a small podcaster, I am unlikely to work directly with a big advertiser, but connecting in a network like this improves my odds.

On the surface, the site looks great. I skimmed through a few possible podcasts I could run an ad on. And submitted my own podcast for review. For fun, I typed in “Frugal” and found a pretty good match.

Looks like a great show! I even dug around a little more, and found a good piece on the service.

The article provides more context on the service and provides some interesting facts about podcasting:

  • Podcasts generated an estimated $479.1 million in revenue in 2018 – industry revenues are projected at more than $1 billion by 20211

  • U.S. podcast advertising drove $314 million in revenue in 2017, up 86 percent over $169 million in 20162

  • Podcast revenue shows projected growth at a near 30 percent annual rate between 2018 and 20222

  • 180 million Americans, or 64 percent of the potential listening population, are familiar with the term "podcasting," 44 percent have listened to at least one podcast, and 17 percent listen weekly3

I think this is great. As you probably know, I am a big advocate of podcasting. I think it has great promise for the future.

However, I do have one big gripe with Gumball...

The problem is, I submitted my podcast months ago. Maybe more than a year ago, I really don't know. While I love Jake and Amir for their content, I might pass on this venture until it works. I really hope it does.


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