Podcast can be very good tools that can help you to generate more income from the internet. A lot of people do not know that it is easier to make money with this tool than a lot of other popular methods. It does not take long to build a list and start your business. This article will discuss how beginners as well as experienced online marketers can make money with podcasts.

• What Are Some Benefits of Podcast?
• How do Podcasts Make Money?
• How Much Money Can You Make From Podcast?
• Can You Earn Money From Podcasts?
• How Many Listeners Do You Need to Make Money on a Podcast?
• How do You Monetize a Podcast?
• 8 Ways Podcasters Can Profit From Their Shows
• Spotify Podcasts
• How to Make Money From Podcast in Nigeria
• How Many Downloads Does a Podcast Need to Make Money?
• Podcast Monetization Platform
• Highest Earning Podcasts
• How Long Does it Take For a Podcast to Make Money?
• How to Monetize Podcast on Spotify
• Who is The Highest Paid Podcaster?
• How to Make Money Podcasting
• Does Apple Podcast Pay?
• Top 5 Ways Podcasters Can Profit From Their Shows
• How to Make Money From Podcast on Spotify
• How do Podcasts Make Money UK
• Highest Earning Podcasts
• Does Spotify Pay Podcasters?

What Are Some Benefits of Podcast?

Easy To Create

Even if you have never made a podcast before, you can easily make one and get it running in less than one hour. You do not have to learn any complex programming or codes. They are as easy as setting up a blog on a free platform like blogger or WordPress.

Read Also: Making A Living With Windshield Repairs

Another benefit is that your podcasts are hosted permanently on the internet and will be available for a very long time. This is much better than sending out newsletters to your lists. People who listen to your newer podcasts can always search for and get access to your older productions.

Competition Is Lower

You can make money with podcasts because the market has not become as crowded as other means of online marketing. There is still a lot of room for you to make your mark in your niche. The major podcasts search engine is iTunes and productions are rated by stars. You are ranked according to the number of 5-star ratings that are given to you by your listeners.

You can easily get better ratings by asking your listeners to provide 4 or 5-star ratings and also leave comments. You can quickly build up a list of subscribers who will give you high ratings and iTunes will rank you higher.

Great Traffic Source

Podcasts are very valuable tools for driving traffic to your blog or website. All you have to do is to inform the listeners at the beginning and the end of the podcast that they can visit your site for more information. This works very well for URLs that are easy to remember.

Another way to generate traffic is to upload your podcasts to podomatic. This site will create a page for you and you can leave notes on your page. Your notes will contain your URL and a brief explanation of what you do. The podomatic page can also be linked to your iTunes page.

Building Your List

When you host podcasts on free services such as podomatic, you will be provided with a facility that allows listeners to sign up for your list so as to get updates from you. You can take advantage of this opportunity by customizing the email that is sent to people on your list. Include your website URL as well as your iTunes page. This is how simple it is to make money with podcasts.

Therefore, whether you are new to online marketing or you are a seasoned marketer who is searching for new ways to get more traffic, you should give thought to using podcasts. They are simple and are free to use.

How do Podcasts Make Money?

Advertisements are one of the most effective ways that podcasts can produce an income, although it may take time to build an audience that attracts the attention of potential advertisers.

Advertisement sales usually happen either directly between the brand and podcast, or by using an agency as a broker or marketplace. 

Commission from affiliated products or programs is another common income stream for podcasters. Hosts can mention products on their show and give listeners a specific discount link. The podcast then receives a percentage of each sale made with its unique URL. 

Rather than including advertisements, some podcasts prefer to sell subscriptions to their show by keeping some or all of the content behind a paywall. Crowdfunding platforms like Patreon let subscribers pick a donation tier for different perks, such as exclusive content or early access to episodes. 

Most of the aforementioned methods are more financially beneficial with a larger audience. While certainly helpful, a big following isn’t necessary in order to make an income through podcasting.

How Much Money Can You Make From Podcast?

Success in any area of podcasting ultimately comes down to hard work and valuable content — engaging, purposeful content is the bedrock of a successful show that could make money in the future.

So until you reach that first threshold for monetization (1,000 downloads/episode), we think your time is best spent creating strong, consistent, valuable content and building up your listener base.

Monthly Earnings: $12,140/month

• Affiliate links — $1,500/month
• Patreon — $1,000/month
• Sponsors ($25 CPM, 2 sponsors/ episode) — $2,000/month
• Online Course — $1,640/month 
• Partner Affiliate Programs — $500/month
• Speaking Engagements — $2,500/month
• Consulting Services — $3,000/month

Can You Earn Money From Podcasts?

Even small podcasts can make money through a variety of different income streams—popular methods include advertisements, affiliate marketing, crowdfunding, selling merchandise, and hosting live events. Big platforms like Spotify and Apple Podcasts allow users to upload their shows, which can help build an audience and attract more advertisers—a key source of revenue. 

Hosting a podcast can be a way to demonstrate industry knowledge or share a hobby and earn some extra income. Selling advertisements, participating in affiliate programs, offering subscriptions, or crowdfunding are the primary ways a podcast can generate revenue.

How Many Listeners Do You Need to Make Money on a Podcast?

Big names are getting large amounts of listeners and large amounts of ad revenue in return.

According to AdvertiseCast, average 30-second CPM (cost per 1K listeners) rates are $18, while 60-second CPMs are $25.

The Ringer had about 420 million downloads in 2018, earning $15 million in ad revenue (paywall). Amy Schumer got a $1 million payday just to create a show for Spotify.

But how much do “smaller” names make? And how do they do it?

Here are a couple of examples:

• The Bowery Boys is a podcast about the history of New York City and makes over $3,800/month through Patreon.
• The Last Podcast On The Left makes over $57,000/month just through Patreon. They also sell shirts and do regular live shows in different cities.

You can type “podcast” into the Patreon search box to see more examples, but not everyone shares their revenue, although you can estimate it by the number of patrons.

How do You Monetize a Podcast?

Here are our favorite direct podcast monetization strategies to explore. Choose the ones that fit best for your show.

1. Ask for donations

The simplest way to monetize a podcast is to ask people for money. Plenty of fans are happy to throw a few dollars to their favorite podcasters to ensure they continue to get great content. When people ask us how to monetize a podcast, this is always the first solution we recommend because it’s easy to set up and promote.

You can add a PayPal button or open a Stripe account and add a donation form to your site. Or set up a GoFundMe campaign for a simple collection page.

To avoid feeling slimy about this kind of self-promotion, keep your calls-to-action authentic. Are you asking for donations so you can spend more time creating new episodes? Tell your audience that.

If people understand where the money is going, they’ll be more apt to donate.

2. Create paid membership tiers

The latest trend in podcasting is creating paid membership tiers. Listeners can pay to access exclusive content, private Facebook groups, or podcast swag.

The best way to get this started is to create a Patreon account. It’s well-respected and simple to use. You can use their default settings or create your own system of levels and rewards for donors.

If you go with Patreon, play around with the level options. You can reward fans for their contributions with swag, content, or other perks. You may find more listeners are willing to support the show because they’re receiving either a physical product or exclusive episodes for their contribution.

Other membership site options include Glow.fm and Supercast.

3. Sell sponsorships or ads

Sponsorship is the most common way to monetize a podcast. Aside from accepting donations it’s also the easiest because you don’t have to create or sell anything. You just have to set up a deal with a sponsor.

You’ve probably heard podcasters start their show or break in with something like “This episode is brought to you by [some company]. If you’re looking for a…” You get the idea. That’s a sponsorship.

Sponsorships pay more depending on how many people listen to your show. As the number of people who listen increases, so will your revenue. But that also means this is a tough way to make money if you don’t have many listeners.

Generally, you can charge for “pre-roll” and “mid-roll” mentions. Mid-row (during your episode) pay more. Promote the sponsor at both points if you’re comfortable.

Here are a few places to find sponsorship deals:

• Ad Results Media
• Adopter Media
• AdvertiseCast
• True Native Media
• Midroll

4. Join an advertising network

Advertising networks like AdvertiseCast, Midroll, Podcorn, and PodGrid act as middlemen between hosts and sponsors.

When you apply to each platform, they will take a cut from the ad placements included in your show so be sure to read the fine print. Typically, the revenue share follows a CPM model where you are paid for every 1,000 impressions served to the ad unit.

Confused? Here’s what the math boils down to. AdvertiseCast has a 70/30 revenue share model where the podcast host takes 70% of the revenue earned and they take 30%. If a podcast has between 1,000-2,499 listeners per episode, the 30 second ad unit has a $23 CPM. After 2,000 listens, the sponsor pays $46. That’s $23 * 2 because the sponsor is charged per 1,000 listens. In the end, the podcast host will take home $32.20 and AdvertiseCast takes $13.80.

Depending on your reach, it’s important to estimate what you might earn from an advertising network. AdvertiseCast has a pricing calculator that estimates the total cost of ad units placed in your show. Just remember, you’ll only take home 70% of the total.

5. Sell premium episodes

Since you know your audience likes to listen to your podcast, there’s a good chance some of them will pay for premium versions of your content. All you have to do is create some special recordings that are only available for purchase.

You might sell:

• Q&As with special guests
• Early access to episodes that will be free one day
• Ad-free episodes
• Live-streamed episodes

The Daily Wire takes a unique approach to premium content. For $10/month, subscribers can access video versions of their podcast episodes.

An easy way to create premium content is to record it while you record your free stuff. Let’s say you invite a guest on your show. Record a 30 minute discussion, then an additional 10 minutes to sell as a bonus. Make sure that extra 10 minutes includes something juicy people will want to buy.

A word of warning here: Make sure your free stuff still has plenty of value. You don’t want your listeners to assume you’re hiding all the good stuff in the paid content or they won’t bother.

6. Gate your back catalog

If you started a podcast ages ago and have built up a back catalog of episodes, try this strategy.

Instead of creating new premium content, you can restrict access to your older episodes. This means you’ll add a paywall for users to listen to the older material.

Dan Carlin’s Hardcore History is a great example. His recent episodes are free to download, but his older stuff costs $1.99 on his website.

7. Sell repurposed content

A great way to create sellable content is to repurpose things you’ve already created. This reduces the time you would spend making something similar.

Take a few of your best podcast episodes that relate to similar topics. Transcribe them yourself or use Castos automatic transcription services right from your dashboard. Then edit the transcriptions, add more value and resources where you can, and package them together into a book.

If this strategy to monetize a podcast appeals to your listeners, invest a little money into a professional design from a service like 99Designs. Then you can put it in a format that’s suitable for Amazon. Selling books on Amazon is far more effective than trying to sell it through your own website.

Next, market your new book on your podcast. Point out that it’s a comprehensive way to learn everything you’ve taught.

8. Syndicate your show to YouTube

An easy way to squeeze some cash out of what you’ve already created is to publish your podcasts to YouTube as videos.

This is a quick process. All you have to do is enable monetization in your account settings and Google will handle the ads and distributing your money.

You don’t have to do a lot of video editing. Just add a single image to your episode recording. Also think about YouTube SEO best practices to surface your videos in more search results.

How much can you make on YouTube? It depends on a number of factors, like video views, how long people watch, whether they skip your ads, and whether they click on your ads. Generally speaking, you can make between $0.50 and $2.00 per view.

8 Ways Podcasters Can Profit From Their Shows

A lot of people are also now successfully using podcasting as an additional revenue stream for their businesses and for themselves as individuals. 

If you too are interested in making more money from podcasting, here are eight different ways you can profit from your show:

1. Podcast sponsorships

Popular podcasts like Entrepreneur on Fire, The Art of Charm and the $100 MBA Show generate thousands of dollars — each month — through sponsorships. With the CPM (cost per impression) model, your show will get:

•  $18 per 1,000 downloads for a 15–second pre–roll

•  $25 per 1,000 downloads for a 60–second mid–roll slot

If your podcast gets 3,000 downloads per episode, you’ll get $54 for a 15–second pre–roll and $75 for a mid–roll slot.

“This could help cover some of your podcasting costs,” says Yann Ilunga, organizer of the Podcast Success Summit, the largest digital conference about podcasting. “New podcasters in particular focus on downloads and landing sponsors, but there are different ways to profit from a podcast — even if you have a “small audience.”

2. Relationships

Some may not consider relationships a profitable element within the podcasting world. Ilunga, however, disagrees. “Regardless of whether you’re hosting an interview–based podcast or not, relationships are a very powerful element in podcast, just like in business,” he says.

“After interviewing several top podcasters I can say that networking is the number-one reason why many entrepreneurs, marketers, authors and coaches decide to start a podcast.”

When looking for guests to interview, don’t focus exclusively on their status, but think about your business. “Many hosts want to interview A–listers on their shows, and there isn’t anything bad with that,” saysJessica Rhodes of Rhodes to Success. “Think about your business, though. Instead of chasing guests because of their status, be strategic and try to interview people who you may collaborate and actually do business with.”

3. Increase the sales of your products and services.

Before running after sponsors, take a look at the products and services your business is selling already. Is your product relevant to the people who tune in to your show episode after episode, week after week? If the answer is yes, think of ways you can strategically leverage your podcast to increase sales.

An exclusive discount for your audience could contribute to an increase in sales. Remember, your being in your listeners’ earbuds is a powerful way to build authority and reinforce the “know, like and trust” factor. You’re building that factor with your show, so don’t be afraid to promote your products and services or offer exclusive discounts, assuming they are relevant to your audience.

Start looking at your show in a more strategic way and think of it as a marketing tool that can help you turn listeners into subscribers, and turn prospects into paying customers.

4. Coaching

In Booked, best-selling author Josh Turner discussed an appointment–setting system that builds around social media. Are you a business coach with a podcast? You may want to consider a similar approach that, instead of social media, revolves around your show.

Again, think of ways you can turn listeners into subscribers first. Do you offer a free 30-minute session? Why not leverage your podcast and invite people to sign up for it?

If free consultations aren’t part of your coaching business plan, consider exclusive discounts for your audience.

5. Affiliate marketing

Affiliate marketing is an option to consider, especially if your show is rather technical and often features you mentioning resources. “During a recent interview The Audacity to Podcast host Daniel J. Lewis shared the fact that affiliate commissions allow him to generate a good income from his podcast,” Ilunga recalled.

In all likelihood, most of your own podcast content is evergreen. This means that the information you shared yesterday is still relevant today and will be relevant over the next months and years.

This means that, as your show grows, you could potentially generate passive income — through affiliate marketing — by podcasting.

6. Books and audiobooks

As a podcaster, you spend hours creating high-value content, which you give away for free. People tune in, get advice and have the option of applying it to their business. In “3 Content Marketing Trends You Need to Be Addressing in Q2,”I talked about repurposed content as a powerful content-marketing practice.

Who says that you can’t apply repurposed content to your podcast to make money?

Hack the Entrepreneur host Jon Nastor is a great example of a podcaster who repurposed part of his content and created a product people pay for: a book. To write his book, he simply took some takeaways from the interviews he hosted on that podcast and combined them with brand new content.

Not that everybody is a writer, and writing a book may not be your thing. But, what about audiobooks? “As podcasters craft their art, they become better communicators and better storytellers,” says narrator and audiobook creation expert Krystal Wascher. “Why not take your recording skills and create an audiobook? You probably have content and know how to record. It’s a no-brainer, really.”

7. Crowdfunding

In some cases, you may consider asking for your community’s contribution. A crowdfunding platform like Patreon allows you to get your audience’s support in the form of pledges. “Noah Lugeons, for instance, is making $1,200 an episode,” explains Brian Kane, a.k.a. “The Real Brian, host of Profitcast. “There are several components that go into successful crowdfunding, but it’s important for podcasters to understand that there are ways to profit from your show beyond the traditional CPM sponsorship model.”

8. Virtual summits

Podcasts and relationships can also turn into a monetary business opportunity, in the form of virtual summits. Navid Moazzez, founder of The Branding Summit, and Yann Ilunga with his Podcast Success Summit, are examples of podcasters who leveraged their shows to build relationships and then used those to put together world-leading digital conferences.

With the Branding Summit, Moazzez generated $20,000 in sales and increased his email list by 3,000 subscribers.

Adds Llung: “Are you a podcaster who would like to organize the largest virtual summit in your industry? Tap into the connections you made through your podcast — that’s how I did it, and managed to put together an event that features over 80 expert speakers. I leveraged the relationships I had built through interviews for my podcast.”

Spotify Podcasts

Spotify has doubled down on podcasts for 2021 and there are now more than 2 million podcasts on the streaming platform.

Podcasts are a great way to expand your mind, from history to politics, parenting to football, there really is a podcast on just about everything. And probably with a celebrity host. Spotify has bought podcasting production companies and created a slew of exclusive series for its ‘Spotify Originals’ platform, while also hosting many of the most popular podcasts on the planet. 

So how do you choose which Spotify podcast to listen to? Allow us to offer some tips, with our round-up of the best podcasts on Spotify for music, true crime, history, sport, entertainment, comedy and more.

Wind of Change

We challenge you to read the synopsis to this one and not want to listen all eight episodes immediately. “It’s 1990. The Berlin Wall just fell. The Soviet Union is on the verge of collapse. And the soundtrack to the revolution is one of the best selling songs of all time, the metal ballad “Wind of Change,” by the Scorpions.

Decades later, journalist Patrick Radden Keefe heard a rumor: the song wasn’t written by the Scorpions. It was written by the CIA. This is his journey to find the truth.” We’re happy to report, the podcast is every bit as good as it sounds.

Dolly Parton’s America

Is Dolly Parton the only thing holding America together? In these sadly divided times, this podcast answers that question with… maybe. Jad Abumrad, a US radio host, explores Parton’s ability to unify this divided nation, not only by exploring her fascinating life but also by delving deep into his own past growing up as an “Arab kid in a southern Baptist universe”. Much like the artist herself, this podcast delivers more than may first meet the eye.

The Lazarus Heist

Almost a perfect crime… From hackers to Hollywood, North Korea to counterfeit money, this web of intrigue is weaved artfully by the BBC World Service production team. True crime meets international espionage in a tale for our times.

Sway

Tech supremo Kara Swisher tackles big issues and big cheeses in her trademark no-nonsense style, guiding us through the world of technology’s talking points, at once explaining complex ideas simply while diving deep into the detail. From Alan Rusbridger to Evan Spiegel, Sway draws some high profile guests – and they’re spared no punches.

Chameleon: Hollywood Con Queen

Welcome to the world of one of the oldest and strangest cons out there. Jobbers looking for their big break in LA get a phone call from a bigwig female exec telling them that their dream job is waiting for them. All they need to do is get on a plane to Jakarta. Except, when they do, not all is as promised. A crazy story, well told.

Today in Focus

From the Guardian, Anushka Asthana and Rachel Humphreys deliver a daily dose of news analysis that makes the noisy news cycle easier to absorb. It’s also worth checking out Freshwater, produced by the same team and focusing on the five fishermen who were sentenced to a total of 104 years in prison after £53m of cocaine was discovered in Freshwater Bay off the Isle of Wight. All five men have always maintained their innocence and the five-part series takes an extended look at the case and features interviews with some of the people involved.

Making Sense with Sam Harris

No need to listen from the beginning, dip in and out of more than 250 episodes as neuroscientist, philosopher and best-selling author Sam Harris explores the human mind, society and current events. Topics include how technology is affecting our attention spans, the science of psychedelics, a discussion on life with Richard Dawkins and what it’s like to escape a Christian cult. We guarantee you’ll feel smarter after every episode.

How to Make Money From Podcast in Nigeria

You can now start a successful podcast in Nigeria and make money from it even if you don’t have a single penny. We will show you exactly how to make a successful podcast in Nigeria.

There are other countless ways to make money as a Podcaster.

1. Sponsorships
You can get people to sponsor

2. Affiliate Marketing
Affiliate programs allow podcasters to make money by promoting and selling a company’s products or services

3. Networking
You can network yourself and meet celebrity and important people. Loyal fans will pay when they know their artist will be on the show.

4. Products and Services
Before chasing after sponsors and affiliate marketing programs, take inventory of what you already have/can easily produce: your own products and services.

5. Establishing Yourself As an Expert
Maybe the thing you actually want to promote is yourself. If you are an expert in your niche, it is much easier to get those coaching clients, sell your book, or get that speaking gig.

6. Premium Content
Offering premium content can turn your listeners into paying customers. You can offer things like exclusive episodes, a back catalog of past episodes, or create a paid community, or a subscription service.

7. Ask for Donations
People are generous. If you have a show that provides value whether it is in the form of information or entertainment, there are people who are willing to donate money to show their appreciation. Being likable and asking is often enough to do the trick.

8. Live events:
Perhaps the rarer of the methods, a live event can be a great way to not only bring people together and build relationships but also create income from ticket sales, merchandise, sponsorships, etc.

How Many Downloads Does a Podcast Need to Make Money?

As an estimate, if your podcast has about 10,000 downloads per episode, you can expect to make between $500 – $900 per episode in affiliate sales.

Not all podcasters make their earnings publicly available. We can, however, estimate their monthly earnings based on the number of episode downloads.

This American Life

This American Life is an entertaining, story-based journalism program.

They average about 2.5 million downloads per week!

With the average advertising rate at $30 CPM, this podcast could generate about $75,000 a week or $300,000 a month!

Joe Rogan Experience

Joe Rogan hosts an entertaining podcast that discusses trending topics and interviews public figures of interest.

He is estimated to make about $30,000 per episode.

With about 5 episodes per week produced, his estimated monthly podcast income is $600,000

Chapo Trap House

Chapo Trap House is a humorous political podcast that publishes two episodes a week.

Their estimated monthly income is about $90,000.

Podcast Monetization Platform

Set-up Donations On Patreon

The first step toward monetizing any creative outlet is to set up an account on Patreon.

Podcasts are no different. If you’re producing quality content, chances are high that at least some of your listeners will be willing to donate.

Patreon is a donation platform that makes it easy for fans or “patrons” to pay content creators for their work.

Unlike similar crowdfunding platforms such as Kickstarter or GoFundMe which are geared towards one-off projects, Patreon makes it easy to set up tiered monthly subscriptions, where subscribers can pay a monthly fee for access to exclusive content, early access to episodes, and other perks.

From onetime donations to paid subscriptions and sponsorships, Patreon lets you engage your audience and turn them into a viable revenue stream.

Art19

Art19 is a relatively new podcast advertising platform that places freedom of expression front and center:

Everyone has the right to freedom of opinion and expression; this right includes freedom to hold opinions without interference and to seek, receive and impart information and ideas through any media and regardless of frontiers. – Article 19, The Universal Declaration of Human Rights

Art19 aims to be Spotify for podcasts. You must ask to join. As of this writing, they charge producers a monthly fee which can range from about $100 for a basic plan up to $700 for full-stack ad insertion depending on the services you need. The platform works best if you are producing your own ads.

Midroll

Midroll is the more established player in the podcast advertising game. It uses the CPM (cost per thousand impressions) model and provides access to ads from major companies such as HBO, Toyota, and Audible among others.

As you might have guessed, this platform commands large fees to match.

For example, Marc Maron’s WTF, which gets 550,000 downloads per episode, pays the following rates:

• 30 second pre-roll: $9,900
• 60 second midroll: $13,200
• 30 second post-roll: $5,500

Midroll’s podcasting roster includes big names such as The Bill Simmons Podcast which gets 500,000 per episode, and Neil deGrasse Tyson’s Startalk which nets $300,000 per episode.

Megaphone

Megaphone is a podcasting platform owned by the Panoply network. It specializes in targeted advertising, boasting over 60,000 demographic and intent-based segments. Advertisers have access to industry-leading data, powered by Nielsen’s Data Management Platform.

For publishers, it serves as a one-stop shop for publishing, tracking user analytics, DAI, sales, and distribution. Megaphone serves as a bridge between advertisers and podcast publishers, helping both make the most of advertising dollars.

Highest Earning Podcasts

Below is a world map poster of every country’s highest-earning podcast.

Every country’s highest-earning podcast

Key Findings:
● The highest-earning podcast in the US and the world is The Joe Rogan Experience, with
$72.3m in potential earnings.
● Europe’s top-earning podcast is Sh**ged Married Annoyed, a comedy show from the UK
with an estimated value of $10.6m per year.
● The highest-earning business podcast is the US show The GaryVee Audio Experience, with $6.3m.
● 14 countries where the most-listened show has potential earnings of over $1m.

How Long Does it Take For a Podcast to Make Money?

Graphtreon is showing us that the most successful podcast on Patreon is Chapo Trap House, with whopping $146,704 per month! They have three times as many patrons as Last Podcast on the Left. Both of these podcasts have been running for well over 1,000 days.

But not everything is about longevity, as some other examples show. Believe it or not, some podcasters have managed to reach over $1,000 in monthly donations, in less than half a month!

Successful podcasting boils down to four main factors:

• The niche – how saturated it is, how many great podcasts are already there
• Unique angle – even the most competitive topic can shine if you do it from an entirely new perspective
• Persistence – not giving up after an episode – or ten
• Social media presence – it’s your main channel for promotion, especially Twitter.

How to Monetize Podcast on Spotify

Once authorized by the platform, authors who want to monetize exclusive content will have to host the podcast on Anchor . Recall that Spotify bought Anchor in February 2019 for $ 110 million.

Once the episode is uploaded, they must check the option ‘Only for subscribers’ . Podcasters will also be able to choose whether to shut down their podcast entirely or if they only pay for some of their content.

The price is predefined by Spotify and podcasters can choose between three amounts: 2.99 dollars (about 60 Mexican pesos), 4.99 dollars (about 100 MXN) or 7.99 dollars (160 MXN) per month.

According to The Verge , Spotify will allow importing paid feeds to other platforms . That is to say: if a person decides to subscribe to a podcast through Spotify, they will be able to listen to it through any other application (Overcast, Pocket Casts, etc.).

Subscriber-exclusive audios will be searchable within the streaming service and will even be recommended in a show’s main feed, but will be marked with a lock icon on the play button.

Who is The Highest Paid Podcaster?

2021 has been one of the most successful years for podcasting to date. With many people working from home, and others abiding by the continual safer-at-home orders being issued, podcasters have become close friends with a diverse and growing audience of listeners. This has resulted in a top 5 list where no podcaster makes below $1 million annually.

1. Joe Rogan: The Joe Rogan Experience, $30 million

Joe Rogan has earned the top spot on the list as the most successful podcaster of 2021. Rogan, with the help of producer young Jamie Vernon, runs one of the most efficient and engaging podcasts to date. His episodes have helped shape the culture, with guests like Elon Musk and Kanye West.

His ideas have converged contentious groups, building bridges between conservatives and liberals, fighters and pacifists, and vegans and hunters. His successful podcast has allowed him to buy million-dollar mansions and build a private home gym.

His range of interests explains his diverse audiences with millions of listeners per episode. His estimated annual income is reported by Forbes to be almost double his next closest competitor. Rogan’s thesis of no editing has given glimpses into some of the most controversial, culturally relevant, and compelling subjects to date.

2. Karen Kilgariff & Georgia Hardstark: My Favorite Murder, $15 million

The top true-crime podcast is My Favorite Murder. The duo has cultivated a fan cult that rivals some of those which they discuss, calling themselves “Murderinos” who support the podcast through live shows, merchandise sales, and subscriptions.

Debuting as part of the Earwolf network, the duo went on to launch their own podcast network, the Exactly Right Podcast Network. The bi-weekly podcast began in 2016 and has shown no signs of slowing down since.

Receiving over 35 million downloads a month, the podcast pushed itself to the forefront of crime-solving, hosting a conversation with investigators Billy Jensen and Paul Holes who, in real-time, captured and arrested the Golden State Killer in 2018. The investigative duo now has their own podcast on the Exactly Right network.

3. Dave Ramsey, The Dave Ramsey Show $10 million

Originally debuting as a radio program, The Ramsey Show focuses on helping listeners get out of debt, gain control over their money, and make financially sustainable decisions that provide peace of mind. Dave Ramsey’s program relies heavily on people who call in, making the viewers feel as though they are a part of the show themselves.

Debuting in Nashville in 1992, the show has grown to over 18 million viewers weekly, placing him in the top three podcasters of 2021.

4. Dax Shepard: Armchair Expert, $9 million

With an emotional intuition that matches his level of engagement, Dax Shepard has created some of the most vulnerable moments in podcast history. Armed with a degree in Anthropology, a decade of sobriety, and experience working with some of the top directors in Hollywood, Shepard guides listeners through human experiences that arrive at the universal truths we are all here to learn.

Some of his monumental episodes include moments with Ashton Kutcher when they outline his goals to stop human trafficking and child abuse, with his wife Kristen Bell where they delve honestly into their relationship and struggle through accountability, and with Emilia Clarke where she discusses multiple brain hemorrhages and other tribulations that plagued her career.

His carefully crafted dialogue and thought-provoking questions have culminated in becoming one of the most successful podcasters to date.

5. Bill Simmons: The Bill Simmons Podcast, $7 million

Founder and CEO of the sports-related media network The Ringer, Bill Simmons hosts his eponymous show that dives deep into the world of sports and culture. Touted as the replacement to ESPN, where Simmons was once a former employee, Spotify also took notice of the podcasts’ success and offered a $200 million deal for exclusive rights.

Guests of the program have ranged from writers to commentators consisting of Sal Iacono, Chuck Klosterman, and Nathan Fielder. The show is sponsored by State Farm and earns somewhere between 400 and 800 thousand listeners an episode.

How to Make Money Podcasting

Interested in turning a profit from your podcast? Try one or more of the following ways to monetize your show.

1. Affiliate marketing

Affiliate marketing is essentially getting paid to refer listeners to another company’s product. Where do you find those partners? The most efficient way is to go through a network like Amazon, Buzzsprout or Podcorn.

Here’s how affiliate marketing might work on a podcast:

You host a parenting show and mention your go-to brand of baby wipes. You tell your listeners where they can buy those wipes, using your personalized link. If one of your listeners uses that link to buy some wipes, you earn a small commission. You can also link to the product in your show notes and on your podcast’s website.

Keeping your audience’s trust is crucial. So disclosing that you earn money from your recommendations is good practice.

2. Sponsorships

Popular podcasts will draw the attention of advertisers that will pay you to plug their products in ads that air during your show. (Sponsorships are one way people make money on TikTok, too.) Sponsors typically pay $18 to $25 for every thousand monthly downloads, also referred to as CPM. So the more an episode is downloaded, the more money you make.

Unlike affiliate marketing, which pays you a commission for actual business, sponsorships essentially pay for potential business. There is, of course, the risk your listeners won’t be enticed to buy. That’s why advertisers are particular about which shows they invest in.

Sponsors tend to gravitate toward shows with at least 5,000 downloads per month. Fewer than 10% of podcasts achieve this feat. You can still attract sponsors with a smaller audience, though, especially if your podcast hits a niche that aligns with an advertiser’s target market.

3. Donations

Get financial support directly from your listeners through one-time and monthly donations.

Patreon is a popular platform for podcast hosts to solicit and maintain monthly memberships. You can also accept payments through PayPal or Stripe, adding a donation button right on your website.

Offering your listeners something in exchange for their support, like swag, exclusive episodes or live chats, will encourage them to invest in your podcast.

4. Merchandise

Have a logo and an audience loyal enough to wear their support on their sleeve (or coffee mug)? Then you can make money with branded merchandise. But you’ll also need an e-commerce store, someone to make your products and a place to store your inventory.

You can tick all three boxes with services like Shopify and Spring, which host your store, help you design products and handle the logistics of fulfilling orders and managing inventory.

Does Apple Podcast Pay?

You have more ways than ever to earn revenue through your podcast. With Apple Podcasts Subscriptions, you receive 70% of the subscription price at each billing cycle, minus applicable taxes.

After a subscriber accumulates one year of paid service, your net revenue increases to 85% of the subscription price, minus applicable taxes. Your other podcast revenue — including any ads — will stay 100% yours.

Get started with premium subscriptions.

Join the Apple Podcasters Program to start offering premium subscriptions. Apple will distribute and protect your episodes, but you’ll always own your show and control where it’s listed. The Apple Podcasters Program is available in over 170 countries and regions for an annual fee.

If you have administrator privileges for your podcast, you can add a subscription to a channel by following these steps:

1. Sign in to Apple Podcasts Connect. If you don’t have an account yet, you can create one.
2. Join the Apple Podcasters Program. You can sign up for the program on your Account page.
   
3. Complete the Apple Podcasters Program agreement. You’ll need to sign this agreement if you want to sell subscriptions and receive payments from Apple.
   
4. Set up your show for a subscription. Add subscriber audio or create a show in Apple Podcasts Connect with subscriber audio.
   
5. Create a channel. You’ll need to create a channel before you can add a subscription. To do that, go to the Podcasts page, click +, then select New Channel.

Top 5 Ways Podcasters Can Profit From Their Shows

There are a few different options available to you. You can try as little or as many of them as you like, though it’s arguably better to focus on fewer and do them well rather than spread yourself too thin.

Besides, some of these methods will suit your show and your content much more than others.

1. Creating Courses

If you like to teach others the nuts and bolts of your subject matter, then this could be the method for you.

Here, you’ll break things down and explain them in a simple way in the form of a full course. This could be in video, audio, or written form. There’s a wide range of platforms out there that can help you do it, too.

Two favourites course platforms are Teachable and Thinkific, both of which help you create a course in a super-simple and great-looking way.

2. One on One Coaching

If you’d like to get on calls and talk people through processes, teaching them live, instead of online, then this could work for you. It’s an easier start than creating a full course since you don’t have to build anything. All you need is a booking form that can take payment, and schedule a time!

3. Sponsorship

Sponsorship and advertising is often seen as the “default” method when it comes to podcast monetization.

One problem with sponsorship, though, is that many companies are still fixated on numbers rather than interaction and engagement. You and I know that 500 engaged listeners are far more valuable than 5000 casual listeners.

So, if you’d like to get a sponsor for your show, choose someone that fits with your topic and your audience and approach them with real stories of the engagement you’ve generated. Explain how well this can turn into conversions for their sponsorship.

Try smaller or local companies, and talk to them about the ways they can benefit by supporting your podcast.

4. Write an eBook

A popular ‘how to monetize a podcast’ option. A good eBook can be short and sweet, and pretty easy to create if you know your stuff.

You can self publish an eBook on virtually anything. Find something that’s hot in your topic and write about it, but make sure the benefit for the reader is really, really clear. Can you identify a problem and solve it?

5. Sell a Product

Again, think hard about the problems your listeners face. Or better still, set up a survey and ask them. Can you create a product that will make life easier for them?

An example of this is Alitu: the Podcast Maker. We kept hearing that you, our readers, were struggling a lot with podcast editing and production. For some, they could do it, but they didn’t have the time. For others, they just weren’t interested in learning about normalization, bitrates, compression, file formats, and on, and on….

Either way, we create a product called Alitu that can produce a podcast for you. It solves that problem, taking your raw audio (or letting you record solo segments or calls) and automating a whole lot of the production process, including publishing the final file to the web.

How to Make Money From Podcast on Spotify

The monetization isn’t going to come from Spotify, it’s going to come from opportunities from your podcast host. There are quite a few different ways to monetize your podcast, but none of them are going to come directly from Spotify. You should focus on growing your audience and checking out other monetization options, because those will be your best bet!

How do Podcasts Make Money UK

1. Sponsorships

Sponsorships are the most common way podcasters make money. This is when the podcast promotes the sponsor during the show. You probably hear your favorite shows plug their advertisers a few times in every episode.

How much you earn from a sponsor depends on the number of downloads your episodes earn. Sponsors pay on a cost per mille basis (mille is Latin for “thousand”). Rates range from $18 to $50 CPM, though hugely popular podcasts can pull in a lot more.

You can price your ads differently depending on where you place them within your episode. Pre-roll ads run at the beginning of the show, usually for about 15-30 seconds. Post-roll ads run at the end of the show, also for 15-30 seconds. They are worth the same to advertisers.

Mid-roll ads are more valuable because the audience is captive at the time. Sometimes the sponsor will give you a script to read. Other times the sponsor will give you more flexibility.

When you first start pitching advertising, we recommend asking for $15 for pre- and post-roll ads and $20 for mid-roll ads.

2. Direct support including premium content

Direct support is when you simply ask your fans to send you money to support your show. If your content and personality are good, there are plenty of people who will happily throw you a few dollars so you can keep producing episodes. 

This is one of the first solutions we recommend to podcasters looking to monetize their show because it’s easy to set up. The best method is to create a Patreon account and make a page that explains why you deserve support and to collect money.

If you don’t want to use Patreon, you can add a PayPal button or open a Stripe account and add a donation form to your site.

A great way to get your audience to support you is to compensate them with premium content. You could charge them for early access to episodes, bonus episodes, downloadable resources, live chats, or access to newsletters and Facebook groups.

3. Affiliate sales

Affiliate sales are similar to sponsorships, but instead of getting paid by the download, you get paid based on what you sell for another company. The other company pays you a commission for each sale. 

Audible has a popular affiliate program that a lot of podcasters and YouTubers take advantage of. Audible gives you a special affiliate link to promote. When someone uses your link, you get credit for the sale and earn $15. 

If you monetize with affiliate sales, make sure the company gives you a simple link that’s easy for you to say and your listeners to understand.

4. Complementary products

The fourth common way to monetize a podcast is to sell complementary products. This might include merchandise, courses, consulting services, books, or access to live events. 

When it comes to selling your own products, you don’t actually have to run your own fulfillment center. You can use a drop-shipping service or a print-on-demand service to send orders to your customers. You just need a place on your website for them to order. 

Highest Earning Podcasts

It’s important to keep in mind that we’ll never know for sure what a podcast makes because their earnings aren’t publically available. We only know what they tell us and what we can deduce. Only the podcast owners know exactly what their show earns. 

Furthermore, like any business, podcasts have expenses. We don’t know what the podcast owners pay just to run their show, so it’s hard to calculate the number we really care about: the profit.

Read Also: Make A Living Selling Vintage Online

If podcast A makes $10,000/month with $2,000/month in expenses and podcast B makes $12,000/month with $8,000/month in expenses, show A technically makes more money, but those are vastly different financial situations. We’d love to break down their profit (what the hosts actually take home), but we just don’t have that information.

With that in mind, here are some data points about some of the highest earning podcasters to help you understand what’s possible. 

• The Joe Rogan Experience makes about $800,000 per episode. At three episodes per week, his show makes $9.6 million per month. He makes another $16,500 to $264,000 per month on YouTube.
• Chapo Trap House has 32,874 patrons, which equals $147,262 per month.
• Pat Flynn’s Smart Passive Income has two podcasts. His most popular podcast doesn’t sell ads, but together they make more than $100,000 per month in affiliate revenue.
• Last Podcast On The Left has 11,290, which equal $53,958 per month.
• Tiny Meat Gang has 10,638 patrons, which equals $51,199 per month.
• Between ads, YouTube revenue, and Twitch revenue, The H3 Podcast makes just under $500,000 per month.
• The Ringer earns more than $15 million from podcast advertisements.

Does Spotify Pay Podcasters?

In April 2021, Spotify launched a paid podcast subscription product in the US. Initially, it allowed select US podcast creators on its platform to charge for content by offering subscriptions to their shows. Now, it’s expanding paid podcast subscriptions to all US creators so they can monetize their content.

Podcast creators won’t owe anything to Spotify for the first two years (aside from the cost of transaction fees through Spotify’s payment partner, Stripe). That said, in 2023, Spotify said it will begin taking a 5 per cent cut of podcast creators’ total subscription revenue.