Should you monetize your podcast?
Why you should NOT monetize your podcast
- Money can complicate relationships. ...
- Money can distract from the message. ...
- Monetizing usually creates interruptions. ...
- Earning income (of any level) could complicate taxes. ...
- Making a profit can cause distrust. ...
- Monetizing means you must follow a higher standard. ...
- No one owes you anything. ...
- You podcast as a hobby. ...
- You may not need the money. ...
How do you monetize your podcast?
- Guest Hosting
- Sponsored Ad Read
- Audio Course
- Affiliate Marketing
- Blog Show-notes
- Sponsorship
- Patreon Support / Membership
- Email Marketing Your Podcast
- Sell Your Products- E-Commerce
How to make more money from your channel or podcast?
Course Summary
- 38 in-depth lessons
- 36 video tutorials
- 2 text guides
- 2 action-prompting tasks
- 47.35 minutes of video tutorials
What to do when your podcast Make Money?
How Do Podcasts Make Money?: 10 Ways to Monetize
- Offer Courses. Offering educational courses or something to do with your passion and hobby is one of the best and topmost ways to make money from podcasts.
- Provide Services. Providing various services is also possible through podcasts. ...
- Sponsors and Advertising. ...
- Consulting. ...
- Crowdfunding. ...
- Premium Content. ...
- Events. ...
- Merchandise. ...
- Books. ...
- Public Speaking. ...
How much money can you make from a podcast?
As an estimate, if your podcast has about 10,000 downloads per episode, you can expect to make between $500 – $900 per episode in affiliate sales.
Can you make good money with a podcast?
All you have to do is read your ads on your podcast recording according to your agreement. In fact, sponsorships are the most lucrative way to make money from your podcast. According to IAB and PwC, advertisers spent $678 million in 2019 and will spend more than a billion in 2020.
How many listeners do you need to make money on a podcast?
3. 5,000 listeners per episode almost guarantees a successful monetization. This is where a lot of interesting things start happening. Having more than 5,000 listeners per episode makes a podcast over 29 times more likely to be monetized successfully.
Do podcasts get paid on Spotify?
Streaming platforms like Spotify and Apple Podcasts pay out for streams, but the payout tends to be very low. Podcast sponsorships are one way, but for new podcasts, the likelihood of finding a high-paying sponsorship is slim unless you're already a well-established figure.
Do podcasts on Spotify make money?
According to AdvertiseCast, average 30-second CPM (cost per 1K listeners) rates are $18, while 60-second CPMs are $25. The Ringer had about 420 million downloads in 2018, earning $15 million in ad revenue (paywall). Amy Schumer got a $1 million payday just to create a show for Spotify.
How much does it cost to start a podcast?
In fact, if you already have a computer and you're operating on a shoestring budget, you can record, edit, and launch a podcast for less than $200. On the other hand, if you want to use higher-end equipment, starting a podcast can cost a few thousand dollars.
How hard is it to start a podcast?
Starting a podcast isn't difficult, but there are a number of steps you'll need to go through in order to get it launched. In this podcasting tutorial, we'll walk you through every step of the process: Choosing a topic & name. Show and episode format.
How long does it take for a podcast to make money?
Relying on the experience of Marc Clair, a podcast host, and producer, it may take as long as 18 months before you start seeing results. That's if you produce a show weekly. In his words, things can be faster than stated if you have luck, a marketing budget, and irresistible content.
How much money do you need to start a podcast?
A good podcast microphone can be purchased for around $100. If you’re not planning on doing too much mixing, you can use free audio editing softw...
How much money can you make from a podcast?
The amount of money you make from a podcast can vary greatly, depending on the size of your audience, the number of monetization channels you have,...
How do people make money from podcasts?
The best way for new podcasters to make money is to use different monetization methods, which can run in the background while you work on building...
Can you make money podcasting on YouTube?
Yes, but it’s best to diversify and make your podcast available on other platforms in order to expand the scope of your attainable audience. That b...
What equipment do you need to make money podcasting?
Podcasting requires microphones for each podcaster and audio-editing software to edit and export your podcast. You may also benefit from a conferen...
What to do if you haven't started a podcast?
If you have not started a podcast yet, choose a topic that has the potential of attracting a large listener base. You can do a quick search in an iTunes library to see if there is a demand for a topic you would choose for your podcast. If there is a demand for that niche, aim to create the best possible content for it.
How much does Joe Rogan make?
Joe Rogan hosts an entertaining podcast that discusses trending topics and interviews public figures of interest. He is estimated to make about $30,000 per episode. With about 5 episodes per week produced, his estimated monthly podcast income is $600,000.
Is podcasting equipment expensive?
If there are few search results, there isn’t much demand – so you have little chance of growing to a point of earning an impressive income. Podcasting equipment can be costly. Not everyone has the ability to invest into podcasting equipment.
1. Affiliate marketing
Affiliate marketing is a performance-based form of marketing where a business offers rewards to affiliates who are able to successfully bring customers to them. Affiliate marketing is a great way for any creator to monetize their content.
2. Sell custom merchandise to fans
Give your fans the opportunity to show their support for your podcast by selling custom merchandise like t-shirts, stickers, posters, mugs, tote bags, journals, and more.
3. Offer tiered memberships through Patreon
Patreon is a very popular platform for monetizing podcasts because it allows fans (called “patrons”) to offer support in regular monthly payments. Creators can sort subscription options into different “tiers,” with each tier receiving different benefits.
4. Host live podcasts and collect tips
Hosting a live in-person event can be a great way to make extra money as a podcaster, but finding gigs is tricky for new podcasts. Live venues may allow you to perform, but unless your podcast is big enough to bring a lot of business, they’re less likely to pay you to perform.
5. Write and self-publish a book for your fans
Like authors, podcast hosts are typically viewed as being a voice of authority on a particular subject, making the transition from podcast host to writer almost seamless. Perhaps that’s why so many popular podcasts have been spun off into books written by their creators.
6. Join a podcast advertising network
A podcast advertising network is a platform that connects brands and podcasts that have a shared target audience, acting as liaisons for brands looking to advertise to podcast listeners.
Podcasts make money when they have multiple income streams
The most profitable independent podcasts use multiple revenue streams to create a steady flow of income as they focus their attention on growing their audience.
What happens if you don't have time to do a podcast?
It's often said that if you don’t have time to build a community, then you don’t have time to do a podcast. Audiences are galvanised by interactions and conversations, not only with you as the podcast host, but with other listeners who share a passion for your topic.
What is the default method for podcast monetization?
Sponsorship. Sponsorship and advertising is often seen as the “default” method when it comes to podcast monetization. One problem with sponsorship, though, is that many companies are still fixated on numbers rather than interaction and engagement.
What does Podcraft talk about?
On Podcraft, we talk about microphones, hosting services, podcasting tools, and a tonne more. That's just because we're interested, and we know our listeners are too.
Does sponsorship pay well?
Unless you're getting thousands of downloads, or have a hyper-niche topic, sponsorship doesn't pay all that well. You need to ask yourself if what you'd stand to earn is worth potentially interrupting your audience over.
How do podcasters make money?
1. Sponsorships. Sponsorships are the most common way podcasters make money. This is when the podcast promotes the sponsor during the show. You probably hear your favorite shows plug their advertisers a few times in every episode. How much you earn from a sponsor depends on the number of downloads your episodes earn.
Why do podcasts have negative cash flow?
In fact, many podcasts have negative cash flow because they spend money buying equipment and paying hosting fees before they earn a single dollar. Creative work like podcasting doesn’t make any money until people choose to watch you. It takes time for listeners to decide you have value.
Does audible have an affiliate link?
Audible gives you a special affiliate link to promote. When someone uses your link, you get credit for the sale and earn $15. If you monetize with affiliate sales, make sure the company gives you a simple link that’s easy for you to say and your listeners to understand. Good affiliate URL: www.sponsor.com/your-name.
How much did podcast ads cost in 2018?
Ever listened to a show that took a quick break to run an ad? There’s a good reason. According to the Interactive Advertising Bureau, marketers spent $479 million on podcast ads in 2018.
How much money did Joe Rogan make from his podcast?
According to Forbes, the stand-up comic earned $30 million from his show in 2019. But this wasn’t an overnight success story.
Why do advertisers like to air spots on podcasts?
Sponsors and advertisers love to air spots on podcasts because they usually have highly engaged audiences. More than half of podcast audiences listen to a full episode of a show—and 41% of listeners will play through most of an episode. This means the majority of listeners will actually listen to an ad!
Why is affiliate marketing important for podcasts?
Affiliate marketing is a smart place to start for new podcasters because you don’t have to pitch anyone or set up deals with a sponsor. You just have to sign up with a company who runs a program.
How many affiliate offers does Jenna have?
Jenna only shares five affiliate offers with her audience over the course of a year. They just happen to be products that she loves—that is the key to affiliate marketing. (Just make sure you disclose any affiliate links with your audience. For legal reasons and to make sure you’re building trust with your listeners!)
What do content creators worry about?
Many content creators worry about feeling sales-y or bugging their audience members. We’ve all been there. Don’t worry, if you focus on sharing incredible content with your people, you’ll naturally open the door to recommending your own products.
Do you have to sell on the show?
You don’t have to sell directly on the show . If you’re a service provider, you can offer a free 15-minute consultation where people can book a call with you. Just make sure to set up a special link so that you can track who comes in from your show!
What is the best thing about advertising networks?
The best thing about advertising networks is that you have the opportunity to grow. When you first start out, you'll have little control over rates, but, as you gain popularity, you'll be able to charge more for advertising slots. Crowdfunding.
Is affiliate marketing good for podcasts?
The same goes for unique discount codes that people can use at checkout. All things considered, affiliate marketing is a great way to keep the money trickling in with minimal additional work.
Benefits of Making Money From Your Podcast
Podcasting can bring you tons of benefits. For instance, it can help you find your voice, establish a community and so much more.
When Can You Start Making Money From Your Podcast?
If you have around 10 people listening to your podcast, you probably won’t earn much. So when is the ideal time to start making money from your podcast?
What Niches Are Best to Make Money From Podcasting?
Any niche can make money from their podcast, but some are easier than others. Usually, the best niches are the ones that are around topics where people struggle a lot.
Final Thoughts
Starting your own podcast can be a lucrative opportunity to make a ton of money without putting a lot of work into it.
What happens when you record a podcast?
When recording a podcast for a long time, ultimately, you will become a proficient speaker. Leverage those skills and become a professional speaker that gets invited to host conferences and events.
Is Kickstarter good for podcasts?
Kickstarter can be a great way to open a new chapter in your podcasting business career. When going to Kickstarter, I recommend you to have a prototype of a product you want to launch and a good idea of how you are going to deliver it to final consumers.
Is podcasting a good way to market your business?
Podcasting is obviously a great way to market your physical business. So why not reverse engineer that model and start with a podcast discussing a range of products and then after gathering following launching a physical store where you can offer your products and services.
Is a podcast a marketing channel?
A podcast can be both a product and a marketing channel. Once you complete your journey of creating a show, having a website, mailing list, monetizing, etc. you should be quite knowledgeable about online marketing and engaging online audiences.
Is podcasting a priority?
Podcasting is currently on the rise so diversification of assets and sources of income is not a top priority for creators. But it should be in the long run especially if you currently are working in a small niche and are heavily dependent on one source of income.
Is a podcast a valuable asset?
A podcast can be a very valuable asset. If you structure it correctly and build a community around problems and solutions, you may decide to sell that podcast later to a new owner. This way of monetizing has been extremely popular with blogs and even YouTube channels.
Affiliate Marketing
Courses
- Many popular podcasters create their own online courses to teach similar content to what they talk about on their podcast. Online coursesare a great way to teach something in an easy-to-follow way where someone can get a specific result once they’ve completed it. It helps to have an email list so you can let your audience know about your course both on your podcast and throug…
Services
- You can offer services that tie in with the content on your podcast. I used to analyze and critique online ads on a podcast and the service I offered was Google AdWords and Facebook Ads management. By showing that I knew what I was an expert on the topic, people knew that they would get expert-level ad management. This made it much easier to get clients without having t…
Coaching & Consulting
- Coaching & Consulting is somewhat similar to offering a service, but you usually don’t do the work for them. Instead, you help or guide them on how to improve. Common industries that have a lot of consultants and coaches are fitness, diet, business, and teaching, but I’m sure there are consultants in every industry.
Crowdfunding & Donations
- You can ask for donations to help support you and your podcast. More entertainment-focused podcasts would be a good fit to monetize in this way. A common platform for accepting donations is Patreon. They make it really easy to offer additional content or bonuses depending on the amount of money people support you with. They even give you the ability to have a separ…
Premium Content
- Premium content can really be anything you want, but some of the common ways podcasters offer premium content are with: 1. Additional interviews 2. Behind-the-scenes content 3. Ad-free RSS feed 4. Early-access RSS feed 5. Q&A with the hosts Have fun coming up unique ways to deliver additional value to your community for a few dollars per month. The Daily Wireis a podca…
Events
- Hosting events is not only a great way to make money, but bring together your best fans and bring them even more value. One example I heard of from Pat Flynn was the Walker Stalkerconference. It was started by a podcast that talked about The Walking Dead TV show. They do events all over the world and even get the actors involved. That sounds awesome! Another example from Sam …
Physical Products
- Physical products are things like t-shirts, mugs, and other swag. The Generation Why Podcast offers a ton of different products, plus premium content, and a very active Patreon page. You can use a site like Teespringto make sure you get enough sales before they get printed – that way you don’t get stuck with a bunch of products.
Books
- Leveraging a popular podcast into book sales is another excellent way to make money and increase your authority. You can use your podcast audience to get those initial sales and reviews that will help your book stand out too. Two examples that I’m familiar with (and have purchased) are: 1. Pat Flynn wrote the WSJ bestseller Will It Fly? 2. Chris Ducker recently came out with Ris…