The growth of podcasting over the past few years has been incredibly visible, more people are turning to the medium to create content, whether it be for entertainment or informative purposes. But as people start to look at podcasting as a way to earn a living (or at least a nice side hustle!) we thought we’d outline how to make money podcasting.
Advertising & Sponsorships
The most obvious way to make money from your podcast is to sell advertising. Whether that be from dynamic adverts, baked-in adverts or sponsorships – but what does all that mean?
A dynamic advert is an advert that is inserted at specific points of your podcast episode, whether that be pre-roll (before the episode starts), mid-roll (in the middle of your episode) or post-roll (at the end of your episode). Dynamic ads can be replaced over time, perfect for any advertisers that want the ability to change the messaging in their advert at any time or only want to run a campaign for a limited time and gives you the ability to place the same advert into your entire back catalogue with just a few clicks. Working with companies such as Acast means you can start earning from dynamic adverts straight away.
A baked-in advert is an ad that is recorded within the content of your episode. This means that no matter when people listen to the episode, they will hear that advert. These can be sold at a premium due to the fact the advert stays within the podcast episode, so in effect, the advertiser pays a one-time fee but gets marketing from the episode forever.
Podcast sponsorship can come in many forms. Whether it be a business that sponsors your whole series, a couple of episodes, or even just features within the podcast. Sponsorships can include various elements of the podcast, including both dynamic & baked-in adverts, being named in the show’s production, links in the show notes and even being included in the podcast’s social media posts.
Your audience is the most valuable asset your podcast has. They are your biggest supporters, out of all the podcasts available to them they listen to yours, they’re interested in what you have to say and a lot of the time would love to hear more of you! With premium content, you can provide the most dedicated people in your audience a little bit extra. Whether it be giving them access to ad-free versions of your episodes, letting them listen to episodes first, or even creating brand new podcasts exclusively for them. With Apple Podcasts you can now offer this to your listeners for a small monthly fee, it’s easy to set up and manage and can be a great way to earn some extra income. It’s also worth exploring platforms like Patreon too if you were looking to offer extras such as video content, exclusive mailing lists and live streams.
More and more podcasters are turning their hand to live events, with some like Parenting Hell doing arena tours! But why are they doing this? Well, live shows are a great way to connect with your audience and can also be very profitable. Whilst revenue can be earned from ticket sales, you also have opportunities to sell merchandise, sponsorship and meet & greet packages.
Repurpose your podcast
You can repurpose your podcast by utilising video and share content to platforms like YouTube and TikTok. By growing these separate channels, you can reach a wider audience and utilise their partner programmes to further monetise your content. Whether you do full video versions of your podcast, or simply share highlights from them, it’s an easy way to get the most out of your content.
Think of your podcast as a business
Whilst you can make money simply by selling adverts, it’s likely not going to be enough for you to make a living out of it. Consider all potential revenue streams from your podcast and how you can make the most out of the brand you have developed and the community of listeners you have built. A podcast is more than simply a weekly bit of audio you release to the world, it is the gateway to a number of potential revenue streams that most podcasters are yet to maximise the potential of.
Listening Dog Media – Podcast Production Agency
Are you ready to take your podcast to the next level? Listening Dog Media can help you reach your goals with our production and promotion services.
Contact us here to set up a call with one of our team.