Why is MaximumFun.org Listener Supported? Link
Most of our shows have audiences in the tens of thousands. That’s more than most podcasts, but rarely is it enough to generate significant advertising revenue. The truth is that advertisers as a whole are uncomfortable with podcasts, and generally disinterested in audiences which don’t number in the millions. If our shows were specialty programs - say “The Hardware Hour” - we could sell specialty ads - to Hammers, Inc. They’re not. Ads are part of the pie for us, but they’re just not enough.
It’s a short but honest piece. Worth a read if you care about small niche podcasts.