Host
Heather Johnston
Podcast Content
You could even earn some money by asking listeners to donate a small amount of money in order to help the podcast stay going. If you have built up a loyal listener community, encourage them to help support you by regularly pledging a small amount of money for the show.
That is, you could take it one step further and set up rewards and incentives that will entice listeners to back you as well. Offering listeners something in return for their support, such as merchandise, exclusive episodes, or live conversations, will motivate them to invest in your podcast.
You could even ask listeners to donate money or sell personalised merchandise. Devoted listeners can directly support creators through monthly contributions, and a show may offer premium content to generate additional funds.
As you might guess, the more listeners who tune into the podcast, the more money advertisers stand to earn. The more downloads, or listeners, you get, the more money you earn.
If one company in particular offers $30 per cent per click, and you get 4,000 listeners or downloads for each episode, then you could easily earn $120 for each episode. The payout is fantastic if your show is drawing in 500,000 listeners per episode, but if you are airing to a viewership of somewhere around the 200 mark, it is not going to bring in a lot of coin. Let us say your podcast has 150,000 downloads each episode and the advertiser pays $30 per click per advertisement. If your podcast has around 10,000 downloads every episode, you can expect to earn $500-900 per episode from affiliate marketing.
If you combine advertising space with affiliate sales, you can potentially earn a pretty significant amount of money with your podcast. Advertising various products on your podcast is the default route that most podcasters take in order to earn a little bit of money. Popular podcasts will attract advertisers who will pay you to feature their products in ads airing on your show.
Promote physical products, like T-shirts, on your podcast, and you would be surprised at the amount of money you can earn. You can also leverage your podcast audience to gain those early sales and reviews which help to promote your book.
Speaking is another great way to build up your credibility, and also to be exposed to new audiences who hopefully become future podcast listeners. Having a podcast is a great way to showcase the behind-the-mike style you have. Collaborating with other podcasts can be a way to grow your audience: guest appearing on others shows, cross-promoting yourself to other podcasters. Listing the podcast on major platforms such as Spotify and Apple Podcasts can help to make your show more discoverable.
Hosting events as a podcaster can not only help with making money, it is a great way to gather some of your biggest fans together to get even more value. Hosting an in-person event live can be a great way to earn some extra cash as a podcaster, but finding gigs is difficult for new podcasts. Live venues might let you host, but they are unlikely to pay you for the show if your podcast is not large enough to draw in lots of business.
Plus, without venues to pay, any money earned from hosting a live podcast goes right back into the podcast. Even without a huge following, your podcast could generate revenue from options like selling tickets for live shows, coaching others to start podcasts, or monetizing your expertise through speaking engagements. If you already have a wide network of listeners, you could turn a podcast into your main income stream with a little work.
You are not likely to earn a lot of money that way, even if you do have a big, engaged audience. Ultimately, you need to ensure if you are going down this route, that you are giving your audience enough additional value each month to ensure your audiences investment is worthwhile. When you are asking people to cough up an ongoing sum of money, you need to ensure the services you are offering are worth it.
If you are in a position to do that, then you are also in a position to experiment with any other methods to monetise your podcast. These are all pertinent questions for you about different podcast monetisation options that are available. As we continue down this road, I will reel off more proven ways of monetizing your podcast.
More entertainment-focused podcasts will fit well with this method of monetization. Selling ads, participating in affiliate programs, offering memberships, or crowdfunding are primary ways that podcasts generate income. The most common ways that podcasts are now earning income are through advertising, sponsorship, listener donations, membership, and subscription models.
Most podcasters earn revenue from various different income streams, including affiliate marketing, hosting live podcasts, selling merchandise, and advertising to their listeners. Podcasters may also earn income from taking a portion of revenue their listeners are willing to pay for brands or services discovered via podcasting. Many successful podcasters earn income through their shows indirectly, funneling listeners into related services, like consulting, speaking, courses, and books.
As a result, podcasts with large audiences typically receive more money in advertising slots. Being able to utilize programmatic advertising also means that if you are considering migrating your podcast to Spreaker, and have a complete catalog of shows, you could begin earning money almost immediately by placing ads across your back catalogue. Leveraging your popular podcasts into book sales is another great way to earn some cash and build authority.