I actually wrote a short blog post about this model and twistlist.co a few hours ago: http://ryanhoover.me/post/4768633874/please-take-my-money-mr... /unashamedplug
I actually wrote a short blog post about this model and twistlist.co a few hours ago: http://ryanhoover.me/post/4768633874/please-take-my-money-mr... /unashamedplug
I'm undecided which model is truly the best, however. Purely ad or donation based content will surely acquire a much larger audience, but is that worth anything other than ego-stroking, if you can make the same living off of a couple thousand people willing to pay you to do what you do? Of course, it's likely a different proposition to take someone and ask them to do what they do for a profession for free (or donations, etc) versus taking someone who is doing it as a hobby or a starter project and looking to build up from there.
Adam Curry and Dvorak do the "donate" thing with the caveat that "as long as you keep making it worth our while, we'll keep making content". Of course, something like one percent of their listeners actually contribute (but boy, they contribute a lot). I tend to adhere more to the idea that you only ned a small number of true fans to support you and you can just cater to them. If you get the same income either way, then it seems the only benefit of a massive audience that mostly doesn't pay is that you can hopefully springboard that into a paying gig somewhere on a big time site or in some form of traditional media.
I know one is far more common than the other, today, but I also know that there is almost nobody actually making a really good living with the free model or even the advertising model (with a couple exceptions). I also know that I consume a lot of content and would consume almost none of it if I had to pay $5-$10/mo for it. But many may.
It almost seems ripe for the Netflix model to step in, where you pay a flat monthly fee for a whole catalog of content and then the creators get paid as a result. That that I'd actually want that sort of a giant singular wall between myself and accessible podcasts and video streams, mind you. But I'm surprised it hasn't been pushed, yet.