Received a Podcast Concept? This is The way to Make Cash Podcasting in 2023

Lately, everybody and their ex-boyfriend has a podcast. However do they really earn cash with it?

There are many methods to earn cash podcasting, from inserting adverts to promoting merch. The most well-liked podcasters make tens of millions, however even hobbyists could make some additional money.

Take David Weinberger co-host of Shonen Flop, for instance.

“We check out a lesser-known manga that ran within the standard Japanese journal Shonen Soar,” he stated. “There’s loads of actually large hits in that journal, however what occurs to… those that don’t final so lengthy?”

The podcast’s humorous, and in-depth opinions have earned it a whole lot of five-star scores – and some hundred bucks a month for Weinberger.

Not each podcast goes to be as standard – or worthwhile – as Serial. However loads of podcasters make a bit more money doing what they love. We requested Weinberger to stroll us via the steps.

1. Get Actual 

Being profitable with podcasting is a very lifelike purpose. However how a lot cash? Spotify reportedly paid $200 million for unique rights to The Joe Rogan Expertise. Amazon spent $100 million on Precisely Proper Media’s podcast portfolio (learn: My Favourite Homicide). However for each uber-successful megahit podcast, there are 100 others that by no means make a cent.

Most podcasts fall someplace in between. Shonen Flop is one in every of them. As of this writing, the podcast makes $286 per 30 days on Patreon: not sufficient for the creators to stop their day jobs, however sufficient to cowl the price of their pastime.

When setting targets for podcasting earnings, be lifelike. You in all probability received’t make 1,000,000 in your first 12 months. Give attention to placing out the perfect present you possibly can within the meantime.

2. Get Skilled 

Listeners (and potential advertisers) tune out when sound high quality is low. Make audio a precedence from day one.

Assume you may get away with phoning it in? Assume once more.

“Your first episode will at all times be your first episode,” Weinberger stated. If it’s filled with static, street noise and “um”s, nobody will hearken to episode two.

There are a couple of easy issues you are able to do to sound nice from the start. First, purchase a good microphone.

“I actually suppose if me and my co-host had simply purchased $50 mics we might be … in a greater spot,” Weinberger stated.

Second, learn to use audio modifying software program – Audacity is a well-liked (and free!) possibility. Weinberger has a wonderful, thorough information obtainable proper right here.

Lastly, be ruthless. Filler phrases, misspeaks, and unfunny tangents have gotten to go. “We report for about an hour and ten minutes and we get that right down to about fifty 5 minutes,” Weinberger stated. “For those who’re slicing fifteen minutes, you’re slicing the worst fifteen minutes of your present.”

3. Get Promoted

If you wish to earn cash with podcasting, you want listeners. How do you discover them?

Begin small. “These preliminary hundred listens a month are all going to be folks that know you,” Weinberger stated.

After that, make connections with different podcasters in your wheelhouse. Host a present about Barbies? Make buddies with the American Lady podcast host. You may work collectively to make nice episodes and enhance your profile.

Right here’s a real-life instance of how this works. When Shonen Flop invited Purple from Overly Sarcastic Productions to visitor star, the present obtained a giant bounce in listenership. That is smart – Overly Sarcastic Productions has over 2 million subscribers on YouTube.

4. Get Sponsored 

Companies large and small are at all times looking out for locations to promote. Why not your podcast?

There are three essential methods you possibly can join with sponsors. One, you possibly can strategy them. There’s nothing mistaken with cold-emailing a enterprise and asking them in the event that they’d wish to group up.

Two, you possibly can join with a center man who pitches advertisers for you. For those who’ve chosen to host your podcast with a service like Libsyn or Anchor, getting paired with manufacturers is a part of the deal.

Three, you possibly can look ahead to advertisers to return to you. As soon as your numbers hit about 1,000 downloads per episode, you may get a knock on the proverbial door.

Notice: simply because a enterprise gives to sponsor you doesn’t imply you need to say sure. Shonen Flop has been approached by advertisers. Up to now, they’ve stated no. Why depart cash on the desk? For now, explains Weinberger, “the extra overhead and trouble on the preparations to get folks to promote on our present … isn’t price it.”

5. Get Followers

One other main income stream for podcasters is their viewers. Many followers will throw in a couple of dollars a month for early, ad-free, and bonus content material.

The most well-liked method to do that is Patreon. Hit podcasts web a whole lot of 1000’s of {dollars} per 12 months on the platform. You’re Unsuitable About has over 23,000 subscribers who pay between $2 and $25 a month for additional content material and group. Whereas YWA’s precise income isn’t public, some again of the serviette math tells you they’re making a tidy sum.

Followers of the present may additionally shell out for merchandise. Printed t-shirts are an outdated stand-by – and comparatively simple to supply.

Don’t Need to Monetize? It Can Simply Be Enjoyable

Is all this speak of monetization beginning to kill your pleasure for podcasting? Hit the brakes.

“There’s positively been temptation to say: can we make a profession out of this?” Weinberger stated. “However then, if it’s your job, it provides much more stress for you. You actually must care about your listenership.”

It’s OK for podcasting to be enjoyable. It’s OK for it to be a pastime.

And who is aware of? Possibly sometime Ira Glass will Tweet out your podcast, gaining you 1000’s of subscribers and a Casper Mattress advert deal.

Ciara McLaren is a contract author with work in HuffPost, MoneyGeek, and The Penny Hoarder. You could find her on Substack (@camclaren). 

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