Radio shows have existed since before the Internet was invented. A podcast is basically a modernized form of radio broadcasting. Podcasts can also be saved so people can listen to them at any time. With the current state of technology it’s easier than ever to get into broadcasting your own podcast. The question is, can it be profitable?
If your podcast is popular enough you can find a company to sponsor you. Similar to how a radio host can earn thousands of dollars or more depending on how popular they are, you can also run a comparable amount from podcasting. However it can be difficult to find a sponsor when you are still starting a podcast and have not established your audience yet.
No matter how small your podcast is you can ask for donations from your listeners. One of the most common sites people use to set up receiving donations is Patreon. With Patreon, you can offer bonuses to your supporters based upon how much to contribute.
Physical merchandise is also a popular method for monetizing podcasts. T-shirts, hats, mugs and other items with your logo can easily be sold online. You do not even need to hold any inventory on hand, popular sites like Teespring and Cafepress will sell your merchandise for you.
If you are an expert in a subject and that subject happens to be the topic of your podcast you can also use your podcasts to sell courses. Nowadays experts are selling their expertise through video courses and sites like Udemy, Skillshare and so on.
marketing is a popular form of marketing that people use to monetize
podcasts as well as other forms of web media. You can use your
platform to refer a customers to other businesses you will receive a
commission when someone make the purchase this is different from the
sponsorship because you only get paid after the sale is made.
If you already have a career selling your coaching or consulting services you can also find new clients by making a podcast. For example, if you are a fitness expert and your podcast is about exercise, going to the gym and eating healthy then you can sell your time to someone who needs personal fitness coaching.
example is a language teacher. If you teach people how to speak your
native language and you run a podcast targeting students of that
language you can also sell your services of a language teacher.
There are many ways to monetize podcasts. No matter if you are already established or if you are a complete beginner you can find at least one way to start monetizing your podcast.
The amount of money you’ll make from your podcast depends upon how popular your podcast is. The most popular podcasts can make thousands or tens of thousands dollars every month. However the average podcast does not make that much. While there are a lot of different ways to monetize podcasts, the most important thing is if your content keeps the listeners engaged. Don’t worry too much about the monetization especially in the early stages. Focus on building a great podcast that listeners want to try tune in every week and the rest will follow.