Isn't it true that many people enjoy listening to others talk a lot? Does it make sense, though, if I argue that podcasters can make a lot of money by podcasting their show? Okay, there are two ways of making a good amount of money from your podcast- direct way and indirect way.
Direct monetization way, where you podcast your original content and sell copyrights only to exclusive subscribers. On the other hand, an indirect way of making money is by selling other products on your podcast, like promoting or advertising their products on your show.
If things aren't going well, all you have to do now is create demand for your content while earning money, rather than doing nothing. Those who are podcasting your show can earn plenty of money from advertising, asking for subscriptions, selling premium content for exclusive audiences, crowdfunding, conducting events in real life, and cross-media. Aside from these monetization strategies, there are a few ways to generate money from podcasts that are simple.
If you have gained reputation as well as trust from your audiences, then it is very much easy to earn money from asking for donations. If you offer your listeners to make a little gift as a donation, they will gladly pay a small sum to ensure that they continue to receive their favourite podcast's content on a regular basis.
Even for making a donation, you get an option as ‘Donation button’ on your podcast, where you have to select the mode of payment on which platform such as PayPal or even set up a donation campaign on your show.
One of the easiest plus quickest ways in monetizing your podcast is through subscription, that too enrolling into premium tiers. People who admire your work as podcasters would definitely pay to access your first hand/exclusive content of yours.
Furthermore, your admirers can listen to your unique material without any interpretations or advertisements. For this, you have to create a Patreon account, that would list out various subscription plans for your followers.
Another way of generating money from your podcast is crowdfunding, where large ventures come up together and make a pool of money on investing small capital. If you are a newbie to the field of podcasting, then crowdfunding is the best option to go, as you can earn a small amount of money from many supporters/investors to meet your show’s requirements.
As you can see, I've already mentioned that promoting other companies' items on your podcast earns you a lot of money. You don't have to do anything; all you have to do is deal with reputable sponsors. Advertisement networks offer two methods of promoting their products: pre-roll, which you must do before the start of your show, and mid-roll, which you must do during your show/podcast.
Sell Premium Content
If you are popular enough, then make the content as premium versions, it's a good way to make money. Make some interesting content or you can also invite a special guest to make it juicier. Do some interesting stuff with them, like ask some questions. Let the listeners have a peek at your content, it will boost their interest to listen to the rest of your content.
Link your Content to YouTube
Uploading your content on YouTube as videos to earn some satisfactory proportion of cash is one of the quick strategies. All you need to do is some editing, like adding some pictures, enabling monetization in your settings and the dispersion of money will be handled by Google.
YouTube usually attracts more people, using some SEO tools you can also make more visible to the people and cash will heighten as the number of viewers rises. You will get about $0.50 to $2.00 per view.
Create back catalogue
Creating a back catalogue and charging a small amount of money to watch the old content is the best way to earn. Instead of putting some restrictions or making your new content premium content, you can create a catalogue with old ones that have some restrictions to access.
To make it more interesting, give audiences a glimpse of the content, like what it consists of, make sure it is captivating. There are many podcasters that use this technique to earn.
As a result, all we carry to indicate is there is no one means to monetize a podcast, there are varied strategies to do it. You can select any method that suits you. In the end, all hinges upon the content you are posting. So make it interesting and captivating, it is one important factor that boosts the viewers and brings you cash.
How much money can I make doing a podcast?
You can make anywhere from $10 to $1000 from podcasts.
How many views do you need on a podcast to make money?
You need to build an audience of at least 5k to 10k listeners to monetize your podcast and attract sponsors.
How do you monetize a new podcast?
You can monetize your podcast by requesting donations, placing ads, or by selling premium content.