Michael Arrington, a noted Web 2.0 observer, wrote about companies that he would like to start up. This includes:
8. Podcast Transcriptions
Podcasters need transciptions. Many people don’t have the time or inclination to listen to every podcast they want to. Search engines can’t index the content. Transctiptions fix both problems.
Hire transcribers in a low cost country. Offer podcasters reasonably priced transcriptions (bonus: in multiple languages). I’m thinking $10 per half hour. Partner with the podcast directories, search engines and tool providers. Mint money.
The comments for that page are very interesting, offering suggestion and criticism.
He then followed up regarding transcribing podcasts. He noted that transcription services exist, but are expensive. What’s the ideal for him?
I am thinking of this more from a cost basis. I’d imagine that you could hire people in the US (students, etc.) for $10/hour to do this type of work. Assuming they were productively transcribing half the time, that is still only $.33 per minute. Use labor from the Phillipines or India and this price would decrease dramatically. Tack on a reasonable profit margin, and you have a business.
So who wants to do it? While existing legal and medical transcription companies can adapt, the average podcast is probably worth less per word than the serious stuff. But of course advertising is a wild card.
And then, along the production side of things – given a concept, or a script – a local company can produce professional podcasts for international release.