How Do Podcasts Make Money?
Nearly of 51% of U.S. adults have listened a podcast. People who listen to the podcasts via cell phone grew 157 percent from 2014 to 2018. Nearly 1 in 3 listen to at least one podcast every month. In recent years, podcasts have become very popular. Except the US, podcasts are popular in Spain, Germany, Sweden, Australia, Brazil. In this article, we want to understand how you can make money from podcasts.
What Is a Podcast?
It is an audio show that you can listen too via special app, on the internet, by downloading and streaming anytime. Vety often it is a series of episodes, a daily and weekly show. Usually people listen to podcasts at home, at work, on the go, while working out. Platforms like Spotify/Anchor have tools which let you to create a podcast.
How to Make Money Having a Podcast?
Although it is said that 99% of podcasts are unprofitable, making money with them is very real. Let’s look at those ways of earning money.
Advertising. As in any other blog, advertising is one of the most basic methods of earning. According to Forbes.pl in 2018 brands spent 479 million dollars in the podcast space, it is said that the market will cross 1 billion dollars in 2021. If you represent a podcast that meets a brand’s audience and demographic thresholds, you can sell ads on your show via preroll, midroll, or postroll advertisements.
Sell you own services/products to listeners. For example, tt is very popular to suggest ‘public coaching’ or consulting to the listeners. Listeners could get a sense for your style and methodology for free, and then pay if they want the one-on-one attention.
Donations. Many podcasters use this model as we can call it ‘pay as much as you want’. According to www.sidehustlenation.com, a famous podcaster Jen Briney earns several thousand dollars a month from her show, which is entirely listener-supported. She accepts donations via Patreon, PayPal, Zelle, Venmo, and even paper checks in the mail.
Sponsorships. You should have a product/service which you can recommend to your listener with an affiliate or referral link. It is a good way to earn money all the time (though usually this amount of money is not big), because your old episode with affiliate or referral link can be downloaded by listenrs even in couple of years.
Charge for old episodes. You can keep your recent episodes for free though you can charge for archiver content.
It is nice that having a podcast you can eard money, but remember that you should have your listeners at the first place and the goal fo your podcast should be communication with your listeners, giving interesting knowledge to them.
Interesting Facts About Podcasts
Currently there are more than 2 mln podcasts in the world (according to Google). There are more than 30 mln episodes. 74% of podcast users listen to podcasts to learn something new.
Chile, Argentina, Peru, and Mexico are the fastest-growing countries for podcasting. 58% of citizens in South Korea listen to podcasts. 83% of Australians know what podcasts are. 6.5 million adults in the UK listen to podcasts weekly.
These facts provide insights into the future of podcasts. This is a modern radio that will bring a lot of profit in the coming years. Share your favorite podcast in the comments!