YEAR 14 FMP

FMP Proposal

Cut deep podcast is thought to be a podcast series both audio and visual, a series speaking on valuable topics for youth from the youth. Hosted by Michaela Asiedu, inviting guests to come on the podcast and talk about different topics that can be useful to the younger generation, as well as it being an entertaining watch/listen. The reason this podcast can be viewed as different from the other podcasts is because the main purpose is to use previous experiences, stories and revelations focusing on bringing in ordinary people with extraordinary stories. Seeking out individuals who have overcome significant challenges, pursued unconventional paths, or achieve remarkable success at a young age.

We believe that this can make our podcast more relatable and inspiring to our audience. We have also decided to Incorporate interactive elements into the episodes, such as Q&A sessions with listeners, live call-ins, or audience participation challenges related to the topics discussed. This gives the Cut deep podcast a sense of community and engagement amongst our listeners, making them feel actively involved in the podcast. In time we hope to collaborate with other youth-oriented organizations, influencers, or brands to co-create episodes or series that align with our podcast’s mission and values. We believe that this can help expand your reach and attract new listeners who may be interested in your content.

To reach this goal, we would need a place to record, looking at the range of different podcast rooms the most appealing deal for the Cut deep podcast would be at London podcast studios. For the professional membership package per month, the pricing would be £299. This package involves assistance setting up and lighting, two 4k cameras and tripod package as well as audio and video file delivered via cloud transfer. All editing would be done in house so investing in a MacBook and editing software is essential. A MacBook would average around £1500 and to use the preferred editing software pricing for the adobe creative cloud would be £196 for the yearly cost on student discount. To upload on all platforms, I would use RSS.com which would allow me to upload audio on numerous platforms, such as Spotify and Apple podcasts. For a membership monthly pricing would $14.99 and when converted £11.99. Altogether the yearly costs would sum up to £5,427.88 .

When looking at the Cut deep podcast we want viewers/listeners to be familiarized with the colour purple, we believe that not only is this a nice colour but it is also recognised as a colour that represents wisdom and creativity. I believe it is a good reflection on how the podcast should be viewed. We have created social media platforms that we will be posting on, such as Instagram and TikTok.

In conclusion, the Cut Deep Podcast is poised to become a unique and impactful voice for the youth, by the youth. With Michaela Asiedu at the helm, this podcast will leverage the power of storytelling to highlight the extraordinary experiences of ordinary individuals, making it a relatable and inspiring platform for its audience. Through thoughtful investments in recording facilities, equipment, and software, alongside a strong branding and social media strategy, the podcast aims to foster a vibrant and engaged community. By prioritizing interaction and collaboration, Cut Deep will not only entertain but also empower its listeners, guiding them through valuable life lessons and creative insights. With a clear vision and a solid plan, the Cut Deep Podcast is set to make a lasting impression and become a go-to source of inspiration and wisdom for young people everywhere.

Origin story

This logo was created originally for a video introduction of the CutDeep Podcast episodes, This was a graphic video that was the screen shot. The vision was to have a simple logo that incorporated purple, a microphone and the title “CutDeep Podcast”. The purple colour is used to represent creativity, spirituality, and sophistication. It was significant that the microphone was used as it symbolises communication and the medium of podcasting. So therefore when potential viewers/listeners see the logo, it would be instantly recognisable as a podcast. The “CutDeep” title suggests that the podcast explores topics in depth, offering listeners a profound and thought-provoking experience. Having the title on the logo was essential for building brand recognition and maintaining consistency. Overall, the logo aims to capture the essence of the podcast’s content and its commitment to engaging discussions for the youth.

SWOT ANALYSIS

COMPETITORS CASE STUDY

Who are the governing bodies of the industry, and what regulations must your business abide by?

Governing Bodies and Regulations

Ofcom (Office of Communications)

Role: Ofcom is the regulatory authority for broadcasting in the UK. They ensure that content is suitable for audiences, protect viewers from harmful or offensive material, and uphold standards of fairness and privacy.
Regulations:
- Adherence to the Broadcasting Code which covers standards for content, including harm and offense, privacy, fairness, and due impartiality.
- Compliance with licensing requirements for broadcasting content.
- Observance of rules around advertising and sponsorship.

ASA (Advertising Standards Authority)

Role: The ASA regulates advertising across all media in the UK. They ensure that ads are legal, decent, honest, and truthful.
Regulations:
- Compliance with the CAP (Committee of Advertising Practice) Code, which outlines standards for non-broadcast advertising, sales promotions, and direct marketing.
- Ensuring all promotional content is not misleading, harmful, or offensive.

ICO (Information Commissioner’s Office)

Role: The ICO enforces data protection regulations in the UK. They ensure that personal data is handled properly and individuals’ privacy rights are respected.
Regulations:
- Adherence to the General Data Protection Regulation (GDPR) for data protection and privacy.
- Implementation of secure data handling practices.
- Transparency with users about how their data is collected, used, and stored.

PRS for Music and PPL (Phonographic Performance Limited)

Role: These organizations manage the rights of music creators and performers, ensuring they are compensated for the use of their work.
Regulations:
- Obtaining necessary licenses for playing music in podcasts.
- Payment of royalties for the use of copyrighted music.

Values and Drivers

Core Values:

Integrity: Upholding ethical standards in all content creation and interactions.
Transparency: Being open about practices, especially in data handling and advertising.
Inclusivity: Creating content that is diverse and respectful of all audience members.
Responsibility: Ensuring content is appropriate and safe for the audience.

Key Drivers:

Audience Trust: Building and maintaining trust through adherence to regulations and transparent practices.
Content Quality: Providing high-quality, relevant, and engaging content that meets regulatory standards.
Community Engagement: Fostering a strong connection with the audience through interactive and participatory elements.
Legal Compliance: Staying updated with industry regulations to avoid legal issues and ensure smooth operation.

Demonstrating Capacity to Fulfill Criteria

Compliance Team:
- Role: Monitor regulatory changes, ensure all content and practices comply with Ofcom, ASA, ICO, PRS for Music, and PPL requirements.
- Actions: Regular audits of content and data practices, staff training on regulatory standards.
Content Review Process:
- Role: Review all podcast episodes for compliance with the Broadcasting Code, advertising standards, and copyright laws.
- Actions: Pre-broadcast reviews, obtaining necessary licenses for music, clear labeling of sponsored content.
Data Protection Measures:
- Role: Ensure GDPR compliance in all data handling.
- Actions: Implementing robust data security measures, providing clear privacy notices, regular data audits.
Engagement and Feedback Channels:
- Role: Maintain open communication with the audience to gather feedback and address concerns.
- Actions: Interactive Q&A sessions, feedback surveys, responsive customer support.
Continuous Improvement:
- Role: Regularly update practices based on new regulations and audience feedback.
- Actions: Ongoing staff training, regular policy reviews, staying informed about industry best practices.

By embedding these values and drivers into the operational framework, the Cut Deep Podcast will not only comply with industry regulations but also build a trustworthy and engaging platform for its audience.

PESTLE ANALYSIS

A PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. It is used to identify threats and weaknesses which are used in a SWOT analysis.

Political factors

Managing Regulation and compliance OFCOM have put in place broadcasting regulations, so as a podcast we need to ensure that we have appropriate content that is not offensive. For the Cut deep podcast this would relate back to the topics and conversations that are had on the podcast. It is important that we take into account to avoid any derogatory terms and also to avoid libel. For our marketing and advertisement we need to avoid and misleading or harmful content.

Economic factors

The economic climate can influence advertising revenue and sponsorship deals. Economic downturns may reduce discretionary spending by consumers and advertisers. The Cut deep podcast will most likely rely on advertisements for revenue. During an economic downturn, companies typically cut back on marketing and advertising budgets. This reduction in advertising spending can lead to fewer sponsorship deals and lower ad rates for the podcast.

Social Factors

When looking at what the Cut Deep podcast will do to reach social factors we aim to target a young audience with relatable content that can drive engagement and loyalty. We focus on diversity and inclusivity to appeal to a broader demographic and reflect societal values. It is also important that we pay attention to the trends in media and consumption. We hope to create a demand for interactive and community-driven content. Paying attention to the trends will also be helpful in creating a niche as it is inviting new consumers and keeping us relevant which is the aim.

Technological

We will utilise high-quality recording equipment and editing software to produce professional-grade content. We also are leveraging social media platforms like Instagram and TikTok for marketing and audience engagement. The Cut deep podcast will be using platforms like RSS.com and spotify for podcasts to distribute content across multiple streaming services (Spotify, Apple Podcasts).

Legal

We will be obtaining necessary licenses for music and other copyrighted content used in the podcast.This will ensure compliance with intellectual property laws to avoid legal disputes. Our podcast will adhere to GDPR guidelines to protect user data and maintain audience trust. Implementing robust data security measures to prevent breaches. As well as this we will need to put in place contracts so that when guests or others come on the podcast, there is an agreement between both parties that all content filmed is in ownership of the Cut deep podcast and can be used on all platforms

Environmental

The podcast could possibly promote sustainability through content and partnerships with eco-friendly brands. We all plan to be mindful of environmental issues that can enhance the podcast’s reputation among environmentally conscious listeners.

Laws & legal restrictions relevant to your business including governing bodies/policy.

It is known that podcasting is continuing to surge in popularity as a creator I must be aware of the legal landscape surrounding the content that is made for the ‘Cutdeep podcast’, especially when addressing topics are suited for the youth . As this podcast business venture will be posted on platforms such as YouTube as well as the audio streaming platform Spotify its legal considerations are put in place. When accessing the legalities it was significant to see what may hinder the business. One thing that is important to look at is copyright laws, so therefore it is important that we should ensure that all content that is used in episodes, including music, images or anything that comes from other sources should comply with copyright laws. If any content is needed then we should obtain necessary permissions or licences for copyrighted materials. This means that we are able to avoid any infringement claims.

We would have to look at privacy and data protection. It is important to respect the privacy rights of individuals discussed in the podcast, especially if sharing personal anecdotes or sensitive information. It is important for me to be familiar with the General data Protection Regulation within the European union. This is put in place to keep everyone’s personal data safe, the law requires companies to have robust processes in place for handling and storing personal information.

Starting the cut deep podcast, I also need to take into account defamation and libel. It is important to exercise caution when discussing individuals, organisations, or public figures to avoid potential defamation lawsuits. This needs to be recognised because it is important that you are mindful about making false statements that could potentially harm someones reputation. I’ve also found that it is important to review and comply with the terms of service and content polices of platforms hosting your podcast, such as YouTube and Spotify. Violations of platform rules could result in content removal or account suspension. Considering implementing content ratings or warnings for episodes containing mature themes, strong language, or sensitive topics to provide guidance for listeners, especially if it targeted for the youth.

To conclude, by navigating the legal considerations outlined above, podcast creators can produce engaging content on youth topics whilst mitigating risks associated with legal disputes or content violations. Prioritising compliance with laws and regulations fosters a safe and responsible podcasting environment for creators and listeners alike.

Business type application/registration with justifications

Cut Deep Podcast

Cut Deep Podcast is an innovative audio and visual podcast series aimed at providing valuable, relatable, and inspirational content for youth, by the youth. Hosted by Michaela Asiedu, the podcast invites guests to share their extraordinary stories of overcoming challenges, pursuing unconventional paths, and achieving remarkable success at a young age. The podcast aims to engage and inspire its audience through personal experiences, interactive elements, and community involvement.

The Business Model

Content Creation

High-quality audio and visual production of podcast episodes featuring guests with impactful stories.

Monetization

Revenue generation through sponsorships, advertisements, merchandise sales, and potential collaborations with youth-oriented brands and organisations.

Distribution

Utilising platforms such as Spotify, Apple Podcasts and YouTube to reach a broad audience.

Justification

Market Need:

Target Audience: Young individuals aged 16-30 seeking relatable and inspirational content.
Content Gap: There is a growing demand for authentic and motivational content tailored to the youth, especially from relatable hosts and guests.
Engagement: Interactive elements such as Q&A sessions, live call-ins, and audience participation challenges will foster a sense of community and keep the audience engaged.

Unique Selling Proposition (USP):

Relatability: Unlike other podcasts, Cut Deep focuses on bringing in ordinary people with extraordinary stories, making the content more relatable and inspiring for the audience.
Interactivity: The podcast’s interactive elements will differentiate it from competitors, creating a unique listener experience.

Market Potential:

Digital Revolution: The digital landscape provides easy access to podcasting tools, making it feasible to produce high-quality content with minimal initial investment.
Youth Engagement: Social media platforms such as Instagram and TikTok will be used to promote episodes and engage with the audience, increasing the podcast’s reach and influence.

Expense Category	Monthly Cost (£)	Annual Cost (£)
Recurring Annual Costs
Professional Podcast Studio Membership	299	3,588
Adobe Creative Cloud for Editing Software	N/A	196
Spotify for Podcasts Membership	11.99	143.88
Total Recurring Annual Costs		3,927.88

One-Time Costs
MacBook for Editing	N/A	1,500
Total One-Time Costs		1,500

Total Initial Investment (First Year)		5,427.88

Strategic Partnerships:

Collaborations: Partnering with youth-oriented organisations and influencers to co-create content and expand reach.
Sponsorships: Engaging brands interested in targeting a young, dynamic audience for sponsorship opportunities.

Marketing and Promotion

Social Media: Leveraging Instagram and TikTok for content promotion and audience engagement.
Content Teasers: Sharing short clips and highlights from episodes to attract new listeners.
Community Building: Creating a sense of community through interactive segments and listener participation.

Cut Deep Podcast is poised to fill a niche in the podcasting market by delivering authentic, relatable, and inspirational content tailored for the youth. With a solid business model, clear market need, and strategic marketing plan, Cut Deep Podcast is well-positioned for success and growth

Demonstration of seed funding or investment available (private or grants)

The “Cut Deep” podcast, an emerging voice in the podcasting world, seeks to enhance its production quality and expand its reach. To achieve these goals, we are exploring various seed funding and investment opportunities, including private investments and grants. This document outlines potential sources of funding and provides a roadmap for securing the necessary capital to support the podcast’s growth and sustainability.

Private Investment Opportunities

Angel Investors
- Description: Angel investors are private individuals who provide capital to startups in exchange for ownership equity or convertible debt.
- Amount: £5,000 – £50,000
- Application Deadline: Rolling
- Notes: Ideal for securing larger amounts. Typically requires a comprehensive business plan and a compelling pitch.
Venture Capital Firms
- Description: Venture capital firms invest in early-stage startups with high growth potential.
- Amount: £50,000 – £500,000
- Application Deadline: Varies by firm
- Notes: Highly competitive. Requires demonstrated potential for significant growth and scalability.
Crowdfunding Platforms
- Description: Platforms like Kickstarter or Patreon allow the public to fund creative projects directly.
- Amount: £1,000 – £50,000
- Application Deadline: N/A
- Notes: Effective for raising smaller amounts and building a dedicated community. Requires a strong online presence and marketing effort.

Grant Opportunities

Podcasting Grants
- Description: Grants specifically aimed at supporting podcast creators.
- Amount: £500 – £10,000
- Application Deadline: Varies by program
- Notes: Examples include the Google Podcasts creator program. Application processes may require detailed project descriptions and budget plans.
Creative Arts Grants
- Description: Grants designed to support creative projects, including podcasts.
- Amount: £1,000 – £20,000
- Application Deadline: Varies by organization
- Notes: Examples include the National Endowment for the Arts (NEA). Requires showcasing the artistic and cultural value of the podcast.
Local Business Grants
- Description: Grants provided by local governments or business councils to support small businesses and startups.
- Amount: £1,000 – £15,000
- Application Deadline: Varies by region
- Notes: Check local government websites for opportunities. Often focused on economic development and community impact.
Corporate Sponsorships
- Description: Companies sponsor content creation in exchange for advertising opportunities.
- Amount: £1,000 – £50,000
- Application Deadline: N/A
- Notes: Requires a proposal highlighting mutual benefits and advertising reach.

Strategy for Securing Funding

Identify Potential Sources: Determine which funding sources align best with the podcast’s goals and needs.
Prepare Application Materials: Develop pitches, business plans, and proposals tailored to each funding source’s requirements.
Track Deadlines: Maintain a calendar of application deadlines to ensure timely submissions.
Build Relationships: Network with potential investors and sponsors to establish rapport and increase the likelihood of securing funding.

Conclusion

By strategically pursuing these seed funding and investment opportunities, the “Cut Deep” podcast can secure the necessary capital to enhance production quality, expand its audience, and ensure long-term sustainability. With a well-crafted plan and a proactive approach, the podcast is well-positioned to attract the support needed to thrive in the competitive podcasting landscape.

Customer profile and research demonstrating why they are the target demographic

Jamal (Male, 20, British Pakistani)

Background: Jamal is a 20-year-old British Pakistani student studying sociology at a university in London. He is deeply interested in social justice issues and community activism.
Interests: Jamal enjoys attending protests and volunteering for local charities. He is passionate about racial equality, LGBTQ+ rights, and environmental sustainability.
Topics of Interest: Jamal is interested in podcasts that discuss race relations, systemic inequalities, and grassroots movements. He seeks content that challenges the status quo and empowers marginalized communities.

Chloe (Female, 18, British Nigerian)

Background: Chloe is an 18-year-old British Nigerian college student from Manchester. She is a creative individual with a love for storytelling, fashion, and music.
Interests: Chloe spends her free time writing poetry, experimenting with fashion, and attending live music events. She is also passionate about mental health advocacy and destigmatizing therapy in minority communities.
Topics of Interest: Chloe is drawn to podcasts that explore themes of creativity, identity, and mental health. She enjoys listening to interviews with artists, discussions on cultural representation, and personal narratives about overcoming adversity.

Raj (Male, 23, British Indian)

Background: Raj is a 23-year-old British Indian professional working in tech support in Birmingham. He is a tech enthusiast and enjoys gaming, coding, and exploring new gadgets.
Interests: Raj is an avid gamer and spends most of his free time playing online multiplayer games with friends. He is also interested in cybersecurity and follows tech news closely.
Topics of Interest: Raj is interested in podcasts that cover gaming culture, technology trends, and cybersecurity issues. He enjoys listening to discussions about the future of gaming, ethical hacking, and the impact of technology on society.

Layla (Female, 21, British Bangladeshi)

Background: Layla is a 21-year-old British Bangladeshi student studying medicine in Cardiff. She is passionate about healthcare, women’s rights, and community service.
Interests: Layla volunteers at a local clinic, advocating for reproductive rights and providing healthcare education to underserved communities. In her spare time, she enjoys hiking, cooking traditional Bangladeshi dishes, and reading feminist literature.
Topics of Interest: Layla is interested in podcasts that discuss healthcare policy, women’s health issues, and global health disparities. She seeks content that educates and empowers listeners to advocate for equitable healthcare access and reproductive rights.

Tyrone (Male, 25, British Caribbean)

Background: Tyrone is a 25-year-old British Caribbean entrepreneur based in London. He runs his own streetwear brand and is passionate about fashion, entrepreneurship, and community empowerment.
Interests: Tyrone is deeply involved in London’s streetwear scene and regularly attends fashion events and pop-up markets. He is also a mentor for young aspiring entrepreneurs and volunteers at local youth organizations.
Topics of Interest: Tyrone is interested in podcasts that explore entrepreneurship, streetwear culture, and community development. He enjoys listening to interviews with successful entrepreneurs, discussions on branding and marketing, and conversations about urban fashion trends.

These customer profiles represent a diverse range of individuals within the target demographic in the UK, each with unique backgrounds, interests, and motivations for listening to the “Cut Deep” podcast. By understanding and catering to the needs and preferences of these listeners, the podcast can effectively engage its audience and build a loyal following.

Price Analysis and Budgeting

As a startup podcast, “Cut Deep” is committed to creating a unique space for insightful conversations and building a dedicated community. In our initial phase, spanning the first six months to a year, we will focus on establishing our niche and fostering a strong, engaged audience. During this period, our content will be freely accessible to all listeners, allowing us to concentrate on growth and community-building.

To cultivate a robust listener base, we will not charge for access to our podcast services during this crucial startup phase. By providing free, high-quality content, we aim to attract a diverse audience and encourage widespread sharing and engagement. This strategy will help us gain valuable feedback, understand our audience’s preferences, and refine our content to better serve our listeners.

Community Building

Our primary goal is to create a vibrant community around the “Cut Deep” podcast. We will achieve this through:

Engaging Content: Delivering thought-provoking episodes that resonate with our target audience and spark meaningful discussions.
Interactive Platforms: Utilizing social media, forums, and live Q&A sessions to foster interaction and build a sense of belonging among our listeners.
Listener Involvement: Encouraging listener participation through surveys, feedback forms, and guest contributions to ensure our content aligns with their interests and needs.

While our main focus is on community-building, we recognize the importance of establishing revenue streams for future sustainability. During our initial phase, we will occasionally incorporate advertisements from small brands that align with our community’s interests and values. These partnerships will be carefully selected to ensure relevance and authenticity, enhancing the listening experience rather than detracting from it.

Benefits of Early-Stage Advertising

Support for Small Brands: Collaborating with emerging brands allows us to support fellow startups and introduce our audience to products and services that they may find valuable.
Audience Trust: By choosing advertisements that resonate with our listeners, we maintain their trust and ensure that sponsored content feels organic and beneficial.
Foundation for Future Growth: These initial advertising partnerships will lay the groundwork for more substantial sponsorship opportunities as our audience and influence grow.

In our first six months to a year, “Cut Deep” will prioritize building a niche and a strong community by offering free access to our podcast. We will engage with our listeners and occasionally feature advertisements from small, relevant brands. This approach will set the stage for sustainable growth, allowing us to expand our reach and impact while maintaining the integrity and quality of our content. Join us on this journey as we delve deep into the conversations that matter and create a lasting community together.

Website & social media registration & activation

The website will be used to update people with the last podcast episode on all platforms. It will also have a tab to tell the ‘Cutdeep podcast’ story. The story home page will tell whoever comes on the page a bit about what gist of the podcast is. It will also have a tab showing people where they can contact us, on all our social media. Linked to every page there will be an option for people to send any messages to us to stay connected with us. This website will mainly be used to create a community for the podcast.

Pilot Podcast show

Actual & projected engagement figures

As the podcast has not been posted we can only pan out the procedures that we would like to take to get our desired goal. The strategy for the “Cut Deep” podcast is anchored in cultivating and expanding its niche within the podcasting realm. Central to our approach is the strategic utilisation of emerging trends and captivating topics to attract and retain a dedicated audience. Our primary aim is to achieve substantial viewership and listenership, leveraging targeted social media tactics and purposeful content creation.

Our first objective is to secure an average of 1,500 viewers for the pilot episode. By curating content that taps into engaging topics and timely trends, we aspire to lay a strong foundation for the podcast’s future growth. This entails crafting narratives that resonate deeply with our target audience, prompting active engagement and garnering attention.

The second objective is to amass a following of at least 1,000 individuals by the conclusion of the second month, aligning with the existing average following on our Cut Deep podcast Tik Tok account. To accomplish this, we will adhere to social media best practices and insights, strategically timing our content releases to coincide with peak engagement periods. By capitalising on trending topics and aligning our content with audience interests, we aim to maximise visibility and interaction.

Our approach cannot be implemented without making a careful choice in content generation. We will find relevant topics and recurring trends in our area by conducting thorough study. Our content will be thoughtfully created to provide value, elicit strong emotions, and start conversations with our audience. This will increase audience engagement and increase the likelihood of it going viral.

Lastly, we will diligently monitor and measure our progress towards our objectives. Metrics such as viewership statistics, audience demographics, and social media following growth will serve as indicators of success. By continuously evaluating these metrics and adapting our strategies accordingly, we are poised to establish the “Cut Deep” podcast as a prominent voice in the podcasting landscape, driving sustained growth and audience loyalty.