How Much Money Do Podcasts Make?
- According to some calculations, The New York Times makes $4.4M, Wondery makes $77.8M, and This American Life / Serial make $2.6M. ...
- On Patreon, Chapo Trap House earns over $140k/month, True Crime Obsessed $54k, Last Podcast on the Left $55k, Cum Town $49k, and Tiny Meat Gang $52k.
- In 2017, Gimlet was on track to earn $15 million in revenue. ...
How much does it cost to start a podcast?
Wondering how much it costs to start a podcast? The minimum startup costs for a podcast: $62. The maximum startup costs for a podcast: $40,811. The average startup costs for a podcast: $23,548.
How to make money out of podcasts?
Next we’ll cover how to make money with podcasts as a product.
- Crowdfunding. Ask your audience directly for contributions via a crowdfunding subscription service like Patreon.
- Create Complementary Products or Services. Sell products that appeal to your audience, such as The Important Cinema Club and Gold Ninja Video. ...
- Join Revenue Share Programs. ...
How do podcasts make money?
What are the Income Sources for Podcasters?
- Advertising and Sponsors. When you hear a podcaster saying something in the lines of “this episode is sponsored by…” it is a typical example of how advertising and sponsorship work.
- Affiliate Marketing. ...
- Paid Content. ...
- Listener Donations. ...
- Consulting and Coaching. ...
- Sales of Products. ...
How much can you make from podcasts?
How Do You Monetize a Podcast?
- Earning sponsorship deals. You don’t necessarily have to have a broad audience to take on podcast sponsors, making it an excellent option for earning money as a new podcaster.
- Utilize affiliate marketing. ...
- Connect with listeners on platforms such as Patreon. ...
- Create products, services, or experiences suited to your audience. ...
What are the Income Sources for Podcasters?
There are several income sources available for podcasters. These include:
How Much Do Most Successful Podcasters Earn?
Podcasters charge for ads based on the number of people who have listened to the episode.
Conclusion
Exactly how much do podcasters make? You should know by now that it depends on several factors.
Are You Hobby or Business?
Before I dive in, though, let’s look at the target, because I know two different groups will be reading this.
What You Need to Start a Podcast
Let’s start out with what you need. What are the components of podcasting? This covers the parts you’ll need, and the types of people that would jump in at each level. Once we’ve covered this, we’ll reach the actual costs in the next section.
What is Podcasting Going to Cost?
We’ve now covered the different situations, and I hope you identified yourself in there somewhere. Many people start with the bare minimum and move their way down the list, even ending up with a fully produced show. Others jump in at the high-quality level and stay there forever. Whatever you choose, let’s see how much it’s going to cost.
Summing Up: Choose Your Own Context
I hope that’s given you a good idea of the costs involved in podcasting. I hope it’s also given you a good idea of where you are on the scale, and therefore what you need to consider getting started.
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
Podcasters earn an affiliate commission by promoting companies and products to their audience. Every purchase made through an affiliate link earns you money. Affiliate marketing is more effective when you promote products and services you know and use yourself.
2. Sponsorships and Advertising
Sponsorships are often the first thing beginners think of when seeking to make money from their podcast. Numerous podcast ad networks connect podcasters with advertisers. The networks find advertisers, carry out negotiation terms and procure scripts on behalf of podcasters.
3. Courses
Many established podcasters develop their own courses to teach similar content online. Courses are effective in teaching easy-to-follow content and give students tangible feedback upon completion. You’ll want an email list to reach your audience and let them know about your course and what it entails.
4. Coaching and Consulting
Coaching is similar to offering an online course, but instead of filming segments for a large group, you focus on developing relationships with individual listeners and teaching them a skill directly. You can also promote your consulting and coaching services through your podcast.
5. Crowdfunding and Donations
When you have a loyal following, you can ask for monetary donations to support your podcasting journey. Crowdfunding usually works best in more entertainment-focused podcasts. Platforms such as Patreon, GoFundMe and Indiegogo can help you solicit funding from your audience in exchange for special rewards — things like merch or exclusive episodes.
6. Premium Content
Premium content in podcasting can take many forms. Here are some of the common ways you can offer premium content related to your podcast:
7. Events
Hosting events as a podcaster not only helps in making money but is also a great way to bring together your top fans for more value. Take the Walker Stalker conference, for instance. Walker Stalker began as a podcast for fans to discuss the Walking Dead TV show, but it has grown immensely.