12 Methods to Monetize a Podcast – Plus My Precise Outcomes

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12 Methods to Monetize a Podcast – Plus My Precise Outcomes

How do podcasts generate income?

12 Methods to Monetize a Podcast – Plus My Precise Outcomes

Producing a present takes actual work, and if you wish to maintain your present working, you’ve acquired to discover a solution to make it be just right for you too.

The reality is most reveals don’t make any cash in any respect — and it took years earlier than my podcast, The Side Hustle Show, may fairly be thought-about a enterprise by itself.

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Monetize a Podcast: 12 Actual Methods to Make Cash From Your Present

Since I launched the show in 2013, I’ve tried a bunch of various monetization methods. I’ll share my expertise and outcomes with these beneath.

At present, the present brings in over $1500 an episode on common, which is superior! But it surely additionally took a very long time to get there.

Now in equity, I’ve heard from different podcasters that don’t care about monetization in any respect. They do their reveals for different advantages, similar to:

  • Constructing relationships.
  • Constructing authority.
  • A inventive outlet.

And it’s true — a podcast can actually do all that and extra.

However let’s speak {dollars} and cents. Listed here are some actual methods podcast hosts can generate income from their work.

These are bought on a CPM, or cost-per-thousand foundation, and usually* priced as follows:

  • $18 per 1000 downloads for a 15-second “pre-roll” point out in the beginning of your present.
  • $25 per 1000 downloads for a 60-second “mid-roll” point out throughout the center of your present.

A weekly present with 1000 listeners may generate $43 an episode, or $172 per thirty days.

(*However in fact you’re free to barter no matter price you may!)

You may see how these numbers can change into fairly vital in a rush, as:

  • your listenership will increase
  • the frequency of episodes will increase
  • you change into extra snug with together with a number of advert spots

In case your weekly present has 5000 listeners, you’re as much as $860 per thirty days, or somewhat over $10,000 a 12 months from only one sponsorship spot in the beginning of your present and one other one within the center.

Not a foul facet hustle, proper?

The identical viewers for a day by day present would yield over $50k a 12 months.

I had the chance to talk with Mr. Podcast Sponsorship himself, John Lee Dumas, in 2013 and he defined how it all works and how one can start looking for out sponsors in your present.

Starting in 2016, a number of firms started reaching out to see if they might sponsor The Side Hustle Show.

At the moment, new episodes have been reaching 5,000-10,000 downloads.

The primary advert deal I did was with Teachable, the web course-hosting platform, and we did a 4-episode run for $1000.

After virtually 3 years of manufacturing the present each week, it was actually cool to earn that form of money straight!

At present the present reaches over 30,000 listeners every week and sometimes earns $1,200-2,000 per episode from conventional sponsorships.

I at the moment have 2 sponsors per present and have 2 advert breaks: one a pair minutes in, and one a couple of minutes earlier than the top of the present.

Along with the businesses that attain out straight, I’ve a number of completely different sources feeding me promoting offers.

These embody:

These firms take a fee from each advert they ebook in your present, starting from 20-50%.

There are additionally firms like Midroll that may act as a liaison between you and promoting companions. Nevertheless, I imagine you could possibly negotiate higher charges and discover extra related sponsors by reaching out straight.

As an example, in case you hear an organization sponsoring one other podcast, you already know they’re not less than open to the dialogue.

In any other case, it doesn’t damage to ask!

Early on, I experimented with some “affiliate sponsorships” on The Aspect Hustle Present.

It is a wonderful means for podcasters to get began since you don’t must have any minimal variety of listeners to start. All you want is a services or products that you simply like and may suggest to your listeners with an affiliate or referral hyperlink.

For instance, you may need heard me say, “This episode is dropped at you by Ting … go to sidehustlenation.com/ting to assert your free $25 sign-up credit score…,” that’s what I imply by a referral sponsorship.

The story goes I’d by no means even heard of Ting, however heard them marketed on Entrepreneur on Fire. I checked them out and signed up by John’s hyperlink — cutting my cell phone bill in half and saving over $800 a year.

Dwelling proof that podcast promoting works!

This technique generated few hundred {dollars} in income for the present – nothing wonderful however not too dangerous both. These are firms I examined with:

  • Ting – New clients get a $25 credit and so do I.
  • Airbnb – New clients get a $25 account credit and so do I.
  • Web site Journal – New clients acquired a free subscription to the journal and I earned $2 per sign-up.
  • Aubible.com – New clients get a free audiobook and I earn $10-25 per sign-up.

And these have been my outcomes:

  • Ting – $175 (woohoo without cost cellphone service!)
  • Airbnb – $25 (I solely earn my $25 AFTER somebody completes their first keep, so I’ve a number of extra potential $25 credit pending.)
  • Web site Journal – $182
  • Audible.com – $0.

So yeah, $382. I’ll chalk that up within the “higher than nothing” class.

One cool factor is that since these hyperlinks are nonetheless “reside” and lively, they’ve the potential to proceed incomes for months and even years down the highway as extra individuals obtain back-episodes of the present.

In distinction, conventional sponsorships (see beneath) will earn you a flat charge with out that upside potential.

This referral sponsorship technique is the precise technique that Scott Oldford used monetize his Executive Minute podcast proper from the beginning (way more successfully than me, I would add), and doubtless what I might do from the very starting if I used to be beginning over.

I feel it provides the notion that the present is probably greater or extra established than it truly is, which may help construct credibility and authority. Listeners would possibly assume, oh wow, this man already has a sponsor, he have to be legit!

The most important threat in referral sponsorships is the corporate discontinues their referral program.

That is precisely what occurred with Web site Journal. It’s irritating as a result of I’ve a number of episodes selling them which can be now not incomes something.

I ought to in all probability undergo the archives and strip out that phase of the audio recordsdata.

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3. Promote Your Personal Merchandise

Promoting my very own merchandise is one other podcast monetization angle I’ve completed over time.

On a number of reveals I’ve invited listeners to take a look at my Kindle Launch Plan course on Udemy or to order my ebook, Buy Buttons.

Make it an Simple Name to Motion

I feel it’s a good suggestion to register product-specific domains which can be straightforward for individuals to recollect and kind in. I exploit GoDaddy for all my area registrations, and Bluehost to redirect them wherever they should go.

For instance, for the Udemy course, I registered the self-importance area KindleLaunchCourse.com, and redirected that to the Udemy touchdown web page, with a built-in particular supply for podcast listeners.

In 2016, 14 individuals signed up by that hyperlink, incomes me $350. (Pricing has modified since then.)

For the ebook, I used one other self-importance area, BuyButtonsBook.com, which redirects to Amazon.

That is additionally tremendous helpful while you’re a visitor on different reveals; you’ve acquired an easy-to-say URL to say.

Sadly I can’t monitor which purchases come straight from the podcast, however I’m positive it’s a quantity larger than zero.

And in whole, the book earned over $18,000 in its first year.

4. Promote Your Personal Providers (to Listeners)

The primary service I ever bought on Aspect Hustle Nation was a non-public mastermind group with me for $97 a month.

It’s arduous to say what number of mastermind members got here by because of the podcast, however my guess is I might have been hard-pressed to generate any purposes with out constructing that belief over time by the present.

In 2015, the final full-year I hosted the masterminds, they earned $5200.

Teaching and Consulting

Previously, I did a “public teaching” collection on the present, the place I might coach facet hustlers on air by sure issues of their enterprise. I invited listeners to succeed in out in the event that they have been curious about teaching providers themselves.

That was a $3100 earnings stream in 2015.

I feel it labored as a result of listeners may get a way for my type and methodology without cost, after which pay in the event that they needed the one-on-one consideration.

You need to use platforms like Clarity.fm or Premium.Chat to facilitate these, or perhaps a direct-booking device like Calendly.

5. Promote Your Personal Providers (to Company)

Right here’s an fascinating tactic that may work even when nobody is listening. 

Josh Elledge runs an influencer company, and makes use of his Considerate Entrepreneur present as “pace relationship” prospecting device to have conversations with fascinating individuals who simply is perhaps supreme shoppers for his service.

He defined that the day by day present prices him round $40 to provide every episode, however that 1 in each 4 or 5 company turns into a consumer.

“Each $200 I put within the machine, I get $4000-6000 out,” Josh stated. “I can do that every one day over and over. And actually, it feels at this level infinitely scalable.”

You may study extra about Josh’s distinctive “podcast prospecting” course of in our interview beneath:

6. Promote Your Company’ Merchandise as an Affiliate

In a pair situations, my company have a product or course they’re promoting, and after them spending 30-45 minutes dropping some helpful worth, I’ve no downside with them inviting listeners to test it out in the event that they need to study extra concerning the matter.

I don’t at all times have an affiliate hyperlink for a majority of these affords, however I’ve discovered it’s only when the visitor creates a particular supply for Aspect Hustle Present listeners, as Sean Marshall did with his “Clone My Business” Udemy course.

On prime of delivering an superior episode, Sean provided Aspect Hustle Nation 70% off his Udemy course, and 46 individuals took benefit of that, incomes me $619.50 in affiliate income.

One other is instance is Greg Mercer from Jungle Scout. Greg has delivered 2 superior interviews on The Aspect Hustle Present, after which made a reduction deal for his Amazon product analysis software program.

As a Jungle Scout affiliate, I earned over $300 a month in commissions for nearly a 12 months after these episodes aired.

Pitfalls to Keep away from

After all, the chance in pushing this technique too far is your present turns into a thinly-veiled pitch-fest with everybody simply in search of a brand new viewers to promote to.

Be sure you disclose your affiliate relationship if in case you have one.

7. Promote Your Company’ Providers as an Affiliate

A number of of my company haven’t had any product to promote, however did have a service enterprise the viewers discovered compelling.

One instance that involves thoughts is Gabe Arnold of Copywriter Today. Gabe got here on the present to share how he’d built his content writing business from zero to $20k a month.

On the finish of the present, he provided listeners a particular deal on the service in the event that they have been .

After the present aired, it generated a pair dozen new clients and earned me just a few hundred {dollars} in affiliate commissions.

One other instance was Russ Perry from Design Pickle, a limiteless graphic design service. In our interview, Russ shared how he built this productized service to 6-figures a month in recurring revenue.

However naturally, some listeners have been curious about hiring the Design Pickle service for their very own enterprise–and signed up by my affiliate hyperlink.

8. Listener Donations

One fascinating solution to monetize your present is out of your listeners themselves.

Joshua Sheats from Radical Personal Finance is an superior instance of this. Joshua arrange a pledge page on Patreon.com, and now has over 200 backers contributing a complete of greater than $1200 per thirty days at press time.

He places out a killer present virtually on daily basis and asks his followers to think about a month-to-month donation to assist the trigger.

Tips on how to Settle for Donations

Patreon takes a 5% charge on prime of any bank card fee processing charges. In accordance their site, “We’re comfortable if a creator sees round $0.90 of each greenback!”

Theoretically you could possibly accomplish the identical factor with fewer charges by internet hosting the donation marketing campaign your self, though their platform seems very nice and has some enjoyable social proof components.

It’s primarily a pay-what-you-want pricing mannequin. The content material will nonetheless be accessible without cost, however in case you discover worth in it, there’s not less than an avenue to gather on that goodwill.

Jen Briney of The Congressional Dish earns a number of thousand {dollars} a month from her present, which is solely listener-supported. She accepts donations through Patreon, PayPal, Zelle, Venmo, and even paper checks within the mail!

I’ve but to do that myself (it appears bizarre for a enterprise present to ask for cash, proper?), although listeners have voluntarily PayPal’d me just a few {dollars} or despatched Amazon reward playing cards my means. Fairly candy!

9. Re-Objective Your Content material

Up to now most of those podcast monetization methods have relied on not less than some listeners tuning in.

This content material re-purposing technique can earn you cash even when nobody ever listens to your present.

The way it works is you’re taking the knowledge out of your episodes and switch it into different merchandise like books or programs. Suppose Tim Ferriss and Tools of Titans, proper?

For instance, my unique Aspect Hustle Path collection on Amazon was virtually solely derived from podcast content material. And regardless of the primary ebook being free to download in digital type, over 400 individuals have ordered the paperback model, incomes me over $1100 within the final 3 years.

(I’ve since updated the book and eliminated the remainder of the collection.)

Associated: Permafree on Amazon: How and Why to Give Your Book Away, Plus My Results

Parts of Buy Buttons have been additionally sourced The Aspect Hustle Present interviews, and that ebook earned around $18,000 in its first year.

10. Syndicate Your Present to YouTube

Not all podcasters are followers of this technique, however for years I syndicated my episodes to YouTube.

(I used a device known as TunestoTube.com to get this completed; right now I exploit Headliner.app, however don’t do each episode.)

I joked I had the world’s worst YouTube channel as a result of there have been only a few precise movies — my “movies” are principally simply placeholder pictures and the mp3 podcast episodes.

And whereas most episodes don’t get a ton of traction on YouTube, some have tens of hundreds of views. 

As a result of it’s such a fast and straightforward course of, even only a handful of incremental listeners can be worthwhile. It’s one other search engine and one other channel for individuals to probably uncover (and hopefully fall in love with) my content material.

You by no means know the place you’ll discover your subsequent greatest fan!

I monetize my YouTube channel with the built-in promoting service and now earn round $500 a month in passive income.

youtube monetization

(I’ve since switched up my YouTube technique a bit however am nonetheless excited concerning the platform as a podcast discovery channel.)

11. Cost Your Company

Truly charging your interviewees is an fascinating — if controversial — podcast monetization technique. I’ve by no means tried this and have a tough time imagining doing it sooner or later.

Nevertheless, my good friend Joe Pardo prices company on The Enterprise Podcast $500-3000 per episode — and explains why here.

John Lee Dumas does this as nicely, and instructions a $3500 “look charge” due to the loyal viewers he’s constructed over time:

eofire appearance fee

I suppose in case you’ve constructed the precise viewers your visitor wants to succeed in, it might be a small worth to pay to spend 45 minutes of their earbuds.

Nonetheless, to do that and never have your present come throughout as a feature-length advert looks as if it could be a problem. Plus there are in all probability some disclosures you’d need to be upfront together with your viewers about.

12. Paywall Previous Episodes

Lastly, some reveals maintain their current episodes free however cost for archive content material.

Dan Carlin’s Hardcore History is an instance. His most up-to-date work is out there to obtain free, however older episodes price $2.99 every on his web site.

(He additionally sells bundles of episodes and accepts listener donations.)

Monetization is Good, however Keep in mind: Listeners First

Each podcaster wants a solution to assist their present, however probably the most profitable ones have discovered methods to take action that also respect the listener.

In spite of everything, the viewers is what makes your present viable. It’s not about you; it’s not about your visitor; it’s concerning the listener and what they will acquire from investing their precious time with you.

My Podcast Monetization Totals

I want I may provide the clear-cut reply as to how a lot The Aspect Hustle Present makes every week.

Proper now, my money-makers are:

  • Conventional sponsorships ($1,000-2,000 per episode)
  • Affiliate partnerships with company ($0-$10,000+ per episode)
  • YouTube ($0-25 per episode)
  • E-mail record progress (20-1,000+ new subscribers per present; which ends up in income down the highway)

If I needed to guess, I’d say every present I produce is value a mean of $1,500-$3,000 to my enterprise. There are additionally manufacturing prices of round $100 every week, not counting my time.

Associated: My Podcast Production Process, Start-to-Finish

And to make certain, it’s taken a number of years to get right here, however it’s extremely thrilling to have constructed a income engine like that from the bottom up. I’m fully severe after I say beginning a podcast has been a life-changing expertise.

Your Flip

When you’ve got a present, how do you (or how do you intend to) monetize it?

As a podcast listener, which of the above monetization angles do you favor?

Obtain the Podcast Starter Package

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Regularly Requested Questions

How do podcasts generate income?

The obvious means podcasts generate income is thru sponsorship offers with advertisers. Nevertheless, that simply scratches the floor of podcast monetization methods. Be sure you try the total record at Aspect Hustle Nation to study extra.

How a lot cash do prime podcasts make?

The world’s hottest podcasts could make a whole lot of hundreds of {dollars} per episode. For instance, UFC Middleweight Champion Michael Bisping reported that Joe Rogan makes $750,000 for each episode of The Joe Rogan Expertise! After all he reaches tens of millions of individuals together with his present, so in case you’re in search of methods to monetize a podcast of your personal, make sure you try the total record of concepts at Aspect Hustle Nation.

What number of downloads does it take to monetize a podcast?

Many sponsors need to see not less than 5000 downloads per episode earlier than they’ll begin working with you, however in case you serve a highly-targeted area of interest viewers, you may in all probability get offers with lower than that. On Aspect Hustle Nation, you’ll discover a record of inventive methods to monetize your present, even in case you don’t have a big listener base (but!).

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