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13 Ways How to Make Money From Podcast

Here you know How to Make Money From podcasts and can you really make money from Podcasting?

Nerdy guys who sit behind cameras and talk about science fiction for hours on end. Speaking into a microphone, spittle flying everywhere as they form their words with their mouths until that perfect sentence emerges, the one that makes people want to bare their teeth at the screen.

And if you’re lucky enough to get an interview with your favorite author, it’s a truly magical experience.

But how do you monetize your efforts? How do you turn that labor of passion into a way to pay the bills? And what does all this have to do with podcasting?

For those of us looking for a way to make money from home without having a boss look over our shoulders, it’s a question worth asking.

The first thing to consider is how much time you have before your podcast needs to become a full-time source of income. If you know that the answer is “less than a year,” then you can simply focus on building an audience and generating revenue from advertising without trying to monetize any other way.

This means spending even more time than you already do recording and editing your podcasts, which might be a burden if you already have a full-time job and family to take care of.

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What is Podcast

The term “podcasting” is actually a little misleading. It makes it sound like you listen to the show on your iPod, which isn’t usually how it works. The word comes from combining “iPod” with “broadcasting,” and maybe that’s where the confusion sets in.

A podcast involves recording a show on your computer. You can then turn that into an MP3 file and put it up on the Internet somewhere for people to download (iTunes is one of the most popular sites; you can’t list your shows there without an account). Once they get it, they can listen to it whenever they want.

This process doesn’t require much equipment, but if you want to take it seriously, there are a few things you should invest in. You need an audio interface that connects your mic to your computer, as well as software like Audacity or Garage Band. Don’t skimp on this stuff; the bad sound quality can make people unsubscribe from your podcast in a hurry.

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How does Podcasting work

In terms of revenue, this is as simple as it gets. You upload the file to a site like PodOmatic or LibSyn and then send people to those sites when they listen to your show.

If you want to take it one step further, you can also include a little “donate” button on your page that takes people to PayPal after they hit play. That way, if they wanted, they could pay for the show and download it again later without having to bother with an MP3 file.

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Key Aspects of Podcasting

One key to success with podcasting is the ability to produce content consistently and over a long period of time. People who start a podcast might record several shows, only to lose interest and never turn on their equipment again.

If you have the ability to produce multiple hours of content each week over the course of several months, you’ll be well off compared to other podcasters.

Another key is great audio quality; if people can’t stand to listen to your show, they won’t return.

Podcasts either have a single host who does everything from interviewing guests to editing the final product, or a team of people who work together to produce the show every week.

If you decide to go with a one-man/woman crew, remember that it’s not all about you; you need to draw people in with content that they find interesting and solve their problems (after all, isn’t that your mission?).

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Pursuing a Podcast Career

Many podcasters start out by hosting an information product like a course or ebook on the topic. If you’re not ready to launch a product, however, you can start by offering your podcast as a free-to-download companion piece for an existing product.

Work on developing your expertise and get some real experience before trying to monetize your show.

Can You Make Money Doing This?

Different podcasts make different amounts of money. Some make no money at all, and others rake in thousands per month (the latter tend to be more popular).

If you’re just starting out, we recommend that you don’t quit your day job. You need time to build an audience that will pay for your show before you start making a profit from it.

For those of us with extra time on our hands, let’s look at all the ways we can monetize our efforts.

How to Make Money From Podcast
How to Make Money From Podcast

How to Make Money From Podcast

Here are the 13 best ways to make money from podcast:-

1. Advertising

This is the easiest and most obvious way to monetize a podcast: take commercial breaks, play some ads, then get paid for them! Big companies are already advertising on podcasts, but it’s not always easy for smaller players to do so without either working through an agency or reaching out to advertisers manually.

Advertisers come in all shapes and sizes, so it’s important to have multiple sources! Some examples of podcast advertising networks are Midroll, AdvertiseCast, and Stitcher Premium

Stitcher doesn’t always pay as well as the others, but it does give you the additional option of including your own ads that you have recorded yourself.

2. Crowdfunding

This has become an increasingly popular option for podcasters who are able to reach a large enough audience to find several hundred or even thousands of people willing to donate money.

Patreon is the biggest crowdfunding platform out there, but it doesn’t support podcasts yet. Instead, they provide an additional service for podcasters by allowing listeners to automatically donate small amounts whenever new episodes are released.

If you’re looking for a platform specifically aimed at podcasts, consider starting with Patreon before branching out to others.

3. Selling Merchandise

If you already have an established brand with your own logo and promotional material, why not use it to make some money? People are always looking for new ways to identify themselves as fans of their favorite show or podcast, and that represents an opportunity for you.

You can either manufacture physical products like t-shirts, mugs, etc., or you can simply create digital goods like eBooks. This is one-way podcasting differs from video; when you record a video, it’s very difficult to make money outside of YouTube ads without massive amounts of upload views.

But the text is easy to upload and share, so you can use it for free throughout the web while still making money on your other content!

The tough part about this option is that you’ll need to pick a price people are willing to pay for physical items. It also takes time and effort to produce these items, which is something you might not have much of when you’re recording and editing a podcast.

It’s also difficult to find a publisher that will work with you since most are focused on books or videos. An example of someone successfully monetizing through the merchandise is the novelist Hugh Howey who makes a decent living selling eBooks in his Wool series.

4. Sponsorships

Although a lot of podcasts are used for advertising, sponsorship is a different animal entirely because the ad isn’t directly related to your content! Instead, you use your existing audience to promote something else from somewhere else.

This can be anything from a company selling its product or service to an organization you personally believe in.

Another benefit to this approach is that you don’t have to worry about splitting the money with anyone else. The cost of producing your own content is covered by either selling ads or crowdfunding, which leaves you completely independent!

However, I would point out that this approach is significantly more difficult to execute since you have to convince both your listeners and the true sponsors that they want to work with you.

5. Donations

If you already have a large audience who enjoys your content, why not ask for their help in supporting future podcast creation? Patreon offers a service specifically targeted at podcasters who want to run a tip jar.

Just like crowdfunding, the donation will be automated and small but over time it can add up to a decent income for you! You can also host your own PayPal account if you don’t want to use Patreon, but there are additional fees involved with this approach.

6. Donations (Alternative)

If you want to make money through donations but don’t want to use any kind of third-party management service, consider using an “ask page” on your website.

This is a simple way for your current audience to self-organize and send you anonymous amounts without worrying about extra fees or monthly subscriptions. This will increase fan engagement and keep you in contact with your most dedicated fans.

7. Affiliate Marketing

Since podcasts are on the internet, you can take advantage of affiliate marketing programs to make a little extra cash. This approach is very flexible because you can promote anything related to your podcast, either through Amazon’s program or another similar service.

The nice thing about affiliate programs is that they don’t take too much effort to implement; in fact, it costs both Amazon and the product provider for less than what you earn so they happily compensate you for the sale without fuss!

The downside to this approach is that you’ll need to invest time and effort into finding the right products, which might not be worth it for your show.

You can start with Amazon because they have a large range of items available, but you will probably want to branch out if affiliate marketing becomes a significant income stream.

8. Public Speaking

One option that’s similar to the merchandise is public speaking because you can actually produce a tangible product! For example, I have a friend who produced a “top ten” list for various open-source software and sold them at tech seminars.

This person earned quite a bit of extra income from their podcast but the work involved in preparing the talks wasn’t significant enough to require a full-time job.

9. Subscription Services

These services are often compared to Patreon because they allow you to charge recurring fees from your fans. The difference is that this product or service comes directly from you instead of being sold through a third-party website, so it will be more expensive.

The upside is that you can produce more high-quality content with smaller overhead costs, but the drawback here is that your listeners will be paying for something they could get elsewhere.

10. Physical Product Sales

Since we’re on the topic of physical products, let’s briefly discuss the benefits and drawbacks of selling your own items. This is a very common approach since it allows you to avoid ad fees and third-party commissions while increasing brand awareness and loyalty among consumers.

However, this method is significantly more difficult to implement because you need to purchase an inventory, set up distribution centers, and deal with customer complaints.

You also have to be very careful about copyright infringement because branded merchandise is often the first thing many people look for when they hear your podcast.

To start this approach successfully you need other people involved in the process to help share the workload, but it can pay off big time if you have a strong presence on social media.

11. Services

Since podcasts are often categorized as “entertainment” instead of education, you might be surprised to learn that they can also pay for professional services – and not just advertising.

For example, I know a podcaster who designs websites and creates custom graphics for various clients, and he even hires other people to help with his specialized projects.

This approach doesn’t have anything to do with what you talk about on your show, but it could be a good side business if you have the right skills and contacts.

12. Performance

If you’ve been cast in a play, acted on an award-winning film, or performed on stage with a famous musician, you could receive royalties from these types of awards.

For example, a musician might have one of their songs featured in a commercial and they may get paid every time the ad runs – even if they don’t actually do anything with the product!

The same goes for writers who may be involved in projects that aren’t directly related to their podcast, so this is a great way to earn extra income if you can find a way to break into the entertainment industry.

13. Buyout Agreements

These can be compared to endorsement deals or paid appearances because they involve getting paid for something that isn’t directly related to your show.

For example, I know a podcaster who lent their voice to a whiteboard video that they’re going to get paid for every time it airs, which is a win-win situation.

Although this approach doesn’t happen all the time, it can be a great way to increase your income during dry spells or when you have an off week.

Can you really make money podcasting?

The real question here is “how much money can I MAKE?” Answering that will depend on the type of podcast you have because your expenses, income, and time commitment will vary.

For example, it might be easy to produce 1 episode per month but you might need 100 episodes per month to make a living.

On the other hand, you could have a daily show that requires very little time but doesn’t bring in much money. For example, I know several podcasters who are only paid per episode even when they record 3 times per week or more.

Plus, some podcast hosts make money by selling advertising for other people! If this is what you’re going for, it might be a good idea to start looking into the costs of podcast production instead of worrying about how much money you can make.

In general, advertising sales are one of the best ways to earn income because this approach involves selling something that is totally separate from your show – and it doesn’t require any additional work!

The problem is that you need to attract advertisers before you can start making money, but this shouldn’t be too hard if your podcast has an audience that is interested in the products or services that are available for sale.

Promoting affiliate links can also generate revenue, but it usually doesn’t bring in much money unless your podcast is popular. In fact, it might be difficult to promote affiliate links until you have a large audience that enjoys your podcast, which means that this approach could take months or even years before you start seeing the benefits.

On the other hand, selling merchandise can bring in money very quickly because all you need to do is upload your products online and take orders directly from your audience.

Plus, you don’t need to worry about finding a distributor because it’s completely up to you when the products are ordered and shipped. The downside is that this approach requires more work since you have to handle all of your orders, but if you want to make money as soon as possible this is a great option.

There are many podcasts that sell ads in their show, and the majority of these make between $200-500 per month. This typically comes out to around $2,000-5,000 per year.

Some podcasts don’t run ads at all, instead opting for a donation button on their show or asking for support from their fans through crowdfunding sites like Patreon. A few podcasts will end up making more money than this, but it’s not particularly common.

FAQ

Is it simple to make money from a podcast?

Yes, it’s simple to make money from a podcast if you know how to attract advertisers and sell products. However, this approach requires more work than any other option because you need to promote your show and find ways to entice people who might be interested in what you have to offer.

How much does it cost to start a Podcast?

The amount of money that you need to start your own podcast will depend on what type of equipment you want to use, how frequently you plan on publishing shows, and how many shows you have in mind. In general, the amount of money that you need will be directly related to how much time and effort you plan on putting into your show.

How much money does Joe Rogan make from podcasts?

Joe Rogan is one of the most popular podcasters on the web today, and he’s been making this type of content for years. While there isn’t an exact figure that shows how much money he makes from his podcast, it’s possible to estimate that his current net worth is somewhere in the neighborhood of $25 million. What makes this more impressive is the fact that most of his income is made from podcasting, which isn’t as common as some people might think.

Conclusion

Regardless of which monetization strategy you choose, it is ultimately up to your current audience to support the show! It’s possible to make money without any advertisements or products at all – through sheer endurance! You can use crowdfunding platforms like Kickstarter or IndieGoGo to raise a large sum of money in a short amount of time if your audience is willing to work with you. This will cover the costs until you start to make some profit later on!

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