Podcasting is the most popular growing platform in the 21st century. People like to listen to podcasts to relax, learn, and understand new stuff. All because smartphone penetration has grown so much faster, and podcasting apps help to organize a better user experience. If you didn’t know, there are few major podcasters like Joe Rogan, Bill Simmons, Tim Ferris, known to the people because of their skill, research, and popular celebrity guests. So how to make money from podcast like these podcast celebrities? It may not be an easy task, but technology is in your hand now, so everything possible now.
55% (155 million) of the US population has listened to a podcast – up from 51% in 2019
Over millions of hours, podcasts listened to by millions of people every day, and making money from podcasting is not an easy way before, but it changed now. People advertise in podcasts, promote their apps, shows, ..etc. So to help the newcomers in the podcasting industry, we have collected the 10 ways to make money from podcast.
Simple math is you need to understand here, the more people listen, and higher your earning possibility.
And if you can’t get a cent from podcasting, you will find at least one way to make money from below guide.
Ways To How to Make Money from Podcast
1. Affiliate Marketing
While some people in the industry sell commercial space on their podcasts, some earn revenue by having a share of the income viewers can spend for products or services found through the podcast. This is the most known way to How to Make Money From Podcast.
For example, SquareSpace.com entitles podcasters to earn 10% of the money from their listeners’ earnings if they set up a podcast on The Undisclosed, which says that they make $12 million per year in podcast advertising revenue for their own company. However, Better Health announced that mental health and wellbeing service provider Magellan would spend more than $5 million on ads in September of 2020.
Producers who make show notes available to their audiences should also make monetized connections such as Amazon Associates Merchandise, Conversant, or another similar program a part of their notes.
Since entering the affiliate network, the affiliate will look for product connections that can be used to send on to their audience to receive a commission.
Side Hustle Nation has brought in over $900 in revenue by marketing their goods or services as an affiliate.
2. Make Money From Offering Services
There are new revenue streams for some podcasters to be found outside of conventional funding. Sideline founder Nick Loper earns at least $5,200 a month for the privilege of being a part of a private mastermind.
The show was created by Nathan Amaral, who overcame his doubts in 2014 by recording a 30-minute audio session on his iPhone and then publishing it. In 2018, Nathan said that someone bought a product he sold for $15,000 from him in the podcast.
They have created a new listener for each person who has discovered a new show through a podcast.
Simon Hazeldine, Graham Jones, and Phil Jesson host a sales podcast that lets other salespeople get ahead with their pursuits. A podcaster team member frequently gains new customers by sharing his insights and advice with the other podcasters. Also teaches on How to Make Money From Podcast courses.
The three men on the show work talk about their roles as salespersons as well as consultancy opportunities. Many businesses have taken advantage of the experience of the foundation of the three men to rev up their sales teams or to have had podcasts where their sales staff are brainstorming with each other divisions. Such outside engagements have become a symbiotic mechanism for podcasts, as it facilitates consultancy services and interviews with customers to provide fresh content for future shows.
Beauty Inside & Out producer Angela Dileone also mentions that her beauty-focused podcast benefits her career by helping the expert develop a fan base.
3. Sponsors & Advertising
Some common approaches to How to Make Money From Podcast, include brands paying to get their products in front of their podcast listeners. A few podcasters discourage people from trying to get into podcasting by saying that it may take time and imagination to find a sponsor.
According to his most recent analysis, by March 2019, the AskPat Podcast had produced $350,000 in profits since 2014.
Pat has been participating online, dating back to the Great Recession when he lost his career just before his wedding. The related business he started, Smart Passive Income, enabled him to build a valued podcast to increase his profits.
Remember that production costs often limit podcast revenue — whether from advertisers or otherwise —. A precedent of this can be seen in Joseph Liu, who hosts the Career Launch podcast, who spends around $150 on each episode but averages 500 subscriptions a month after releasing the first one. Liu decided to cut down on the number of advertisements in his podcast.
According to The Atlantic Cast, popular podcast hosts will receive offers of $25 to $4,000 per thousand listeners, which puts industry-wide average podcast ads at $18 per 1,000-second to $25. Thus, more prominent podcasts will command at least $25,000 per episode in compensation from brands and/agencies. And if an advertising firm gets a 20% commission on the deal, the podcaster also takes home a respectable 80% endorsement income share, of course.
In an interview with On Writing podcast with boardwalk audio host Alan Johnson, he claims to have had his sponsorship. Johnson’s project’s business end could be put in the hands of like-minded people, who freed him up to read an advertisement for his broadcast. He said, “It’s almost inevitable that I wouldn’t have funding without a network,”
A frequent result learned trend from more than 421 podcasts was that making little direct income before lucrative is the standard. his/her cooperation shall bear a direct relation to the resolution of the current situation
Therefore, that has been the case with Tony Martignetti, who’s been in charge of the not-for-profit radio station for many years. Like other new media entrepreneurs, Tony says: It is widely acknowledged that he started to fund the podcasting fees out of his wallet in the beginning. now the station’s advertisers spend more money on promotion than on the broadcast, covers all the program costs
Martignetti takes great pride in the fact that his podcast consistently generates a profit, as well as in the fact that his show has not skipped a week since July 2010. by the time Tony had garnered his first fan, he had an audience of about 5,000 people per show or 20,000 downloads per month. Tony began by offering sponsorships to start by the rumor and gain experience with advertisements through podcasts as marketing for him. Now that he’s earned more than 60,000 dollars from advertisers every month, Tony will legally expose his strategies.
Either you are interested in sponsoring podcasting or trying to save money on your company’s podcast deals, discovering podcast promo codes can help. a way for Harry’s Shave Club and Stamps. to make money by selling exclusive codes to incentivize consumers to use their preferred mail-delivery service and sales to these locations
The many ways in which podcasters are looking for sponsors are innumerable. In the first place, they can use the company’s online database of available supporters to learn about other podcasters they can work with, their social media accounts, or my business email.
Podcasts like AdvertiseCast, or others can offer new opportunities for podcasters to get new sponsors
Specially built forums for podcasters, like /subreddits for that purpose, like /r/podcasting, help podcasters get followers and others to become sponsors.
Notable advertisers check out new podcasts to get a sponsorship presence on. There was no sponsorship required; the BlogTalk Network found their next guest, podcaster Justin Rimmel, without Justin himself needing to check it out. We could see Rimmel receiving 50,000 downloads a month, which is enormous for a podcast that goes through crowdfunding.
It is crucial to create a following to succeed with sponsors. a successful way to increase the number of listeners is to be a guest on other podcasts
Most industry researchers and media planners purchase commercial space depending on the number of views an advertisement can get.
As podcasting was in its infancy, podcasters estimated the number of ad views they expected to earn each episode and assigned individualized ads to each podcast host. When advertising in these formats, you can only make too much money since they are “baked-in.”
An example of this is How to Make Money From Podcast, if the average podcast receives 100,000 views and offers a commercial for $25 per view, then the earnings per view will be $2,500. For the baked-in podcast, they’d get $3,000, regardless of whether they were famous, regardless of the number of downloads and plays.
With Dynamic Ad Insertion, podcasters have an opportunity to arrange their segments or their ads to meet sponsor commitments without reducing forecasts or having a raw deal.
Open slots in episodes specifically allow podcasts to have advertising up to a certain level until an ad impression has been attained, which means ad placements that occurred in the past can be used retroactively.
It works similarly to how buyers on digital media sites like Facebook and Google will purchase highly personalized ads with increasingly specific preferences depending on the hosting site.
4. Sell Courses In Podcast
Often podcasters develop training courses to provide supplemental information about their podcast content. Online classes are a perfect way to impart information in an easy-to-to-understand manner where everyone gets particularized.
It’s essential to have an email list so your audience can be kept up to date with your course via email. Another method to push courses is to use a webinar channel to present your offerings’ benefits for 45 minutes and have your course at the end. Since people are interested in talking to you, these techniques are effective.
5. Premium Content
Some podcasters chose to opt-out of running advertisements and instead sold subscriptions. While some podcasts are freely available to subscribers, many other podcasters charge $4.99 for each segment to provide extra content as an incentive for ad-free listening. The publication explains how the Swedish firm Acast+ started playing with subscriptions ranging from $2.99 to $6.99 monthly for podcast listeners in 2016.
Dan Carlin’s Hardcore History podcast, for instance, makes money by charging $1.99 for each segment for older material and anything from $5.99 to $69.99 for Hardcore History compilations of podcast segments for listeners who wish to listen to the series. However, newer and recent installments of his Hardcore History series are free for fans, a tactic that lets him make money when continuing to expand a popular podcast.
Inside the Stitcher Premium app, users can pay $4.99 monthly membership rates for exclusive material, such as fictitious Wolverine episodes. Amy Schumer’s podcast, 1 Keith, 3 Girls, is open to Spotify subscribers, with upcoming podcast episodes possibly behind Spotify’s paywall.
Some podcasts use Glow, Supercast, or Patreon to charge listeners directly. At the same time, Ben Thompson and Jon Gruber of Dithering had the technological knowledge and pre-existing skills to develop and launch their own paid podcast streaming infrastructure.
Podcasters without the influence of celebrities like Amy Schumer looking to monetize through paid subscriptions may consider attracting listeners by bundling with other podcasts and newsletters.
6. Coaching and Consulting
Coaching and consulting somewhat serve the same purpose but generally not in delivering or providing a service. Instead, you have guidance or instruction on how to better yourself. Most consulting fields include health, lifestyle, and business, but I’m sure there are consultants in every field. This is one of the best ways to How to Make Money From Podcast if you are good at a specific skill.
7. Create and build Events
Attending functions is not only an excellent way to earn income, but to draw out the best fans and supporters. An instance that I knew of was Pat Flynn was the Stalker meeting. It began when a podcast began discussing the television series “The Walking Dead“ they participate in activities all around the country, even having actors perform in them. That is fantastic! You will get early admission to Sam Harris’ actions as a Patron.
8. Sell Your Books In Podcast
One more easy way to learn how to make money off podcast, Getting a famous podcast into book sales is another great way to make money and raise your authority. You will use your podcast listeners to get the early sales and feedback that can make the book stand out.
9. Physical Products [ Dropship / Wholsale]
Physical goods are items like t-shirts, mugs, and other swags. The Generation Why Podcast offers many different items, plus premium content and a top-rated Patreon channel. You should use a platform like Teespring to make sure you have enough orders before they’re printed – that’s how you don’t get stuck with many items. Which is the most common way how to make money off podcast.
10. Crowdfunding and Donations
Many podcasters support their labors of passion out of their own pockets, and some of them look to their fans for help.
Leslie Krongold, who hosts a podcast called Glass Half Full with Leslie Krongold, Ed.D., has set up a GoFundMe website to gather contributions for her chronic health-focused podcast.
Podcasters will lead listeners to their Patreon, GoFundMe, or Kickstarter crowdfunding campaigns—or request contributions to be charged directly to them by other means—to promote the podcast’s continuity.
Elecia White and Christopher White used Patreon to collect funds to cover the cost of supplying their radio guests with microphones for their Embedded Podcast.
Elecia clarified that she and her co-host were only planning to make six or twelve episodes of their engineering podcast at the outset but ended up making more than 200 episodes. She said that while the Patreon Fund has helped people donate money for shipping microphones, it has become a bonus for making over-funds eligible to purchase stickers. Elecia argues that the podcast has spotlighted the business and the book of the pair but acknowledges that there are probably less intensive ways to promote the organization or the tome outside the podcast.
To see a real-life examplar of the kind of donations provided to podcasters, check out the Radical Personal Finance Patreon website, which currently lists 262 podcasters giving $1,697 per month.
If your listeners are in love with your content, they will support your vision to help them succeed.
In reviewing the cases above of real-life podcasters that use several ways to how much do podcasters make off their podcasts, it is clear that lucrative podcasts are not usually a dime a dozen, but they are feasible.
Also, if you are new to podcasting, looking for place to learn, here is a great place to start learning podcast.
Case profiles also show that podcast money will flow to episode producers in a non-obvious manner, whether the funds reflect career-improving profits, grants, crowdfunding revenue, paid advertising and streaming models, or a unique outside-the-box way of earnings found after listening.
So, do you have a tip on how to make money from podcast, let us know in the comment section and help our readers.