Creating and uploading your podcast is just the beginning. Now you need to monetise it. Do it right, and your show could be the next “My Favorite Murder,” which gets 35 million downloads per month and turned creators Karen Kilgariff and Georgia Hardstark into multimillionaires, Forbes reported.
Affiliate Marketing
Podcasters who promote other businesses’ products or services can earn a commission for every sale that results.
Once you’ve struck a deal with the business, you receive a code or link you can share with your listeners. When a listener uses the code or link and makes a purchase from the business’s site, you get paid for the referral. This is an easy way for new podcasters to earn money from their show, and it’s a potentially lucrative one. Thirty-eight percent of listeners report purchasing things that have been mentioned in a podcast, according to Schaffer.
Sell Advertising on Your Show
Sponsorships can generate significant ad revenue for your podcast. You can play your sponsors’ recorded ads or read the ad copy yourself during your podcast. An advertising network can find sponsors for you for a cut of the ad revenue, according to the inbound marketing company HubSpot.
Sponsor a Podcast
If you know of a podcast whose target audience is similar to yours, you can charge a fee to promote it on your show.
Create a Subscription Program for Premium Content
Your podcast can serve as a funnel for a subscription program that charges listeners a fee for access to premium content and other perks.
Subscriber benefits might include expanded episodes, subscriber-only content and access to a Facebook or other community created around your podcast.
Add Video
Adding video to your podcast can widen your audience and increase your earnings by leaps and bounds.
Just film yourself recording the podcast and then upload the video to YouTube.
Once you’re publishing on YouTube regularly and have reached 500 subscribers, you can monetise your videos. Keep the content regular and interesting and the viewers and subscribers will come.
Is It Easy To Make Money From Podcasts in 2023?
There’s no such thing as easy money in podcasting. It takes a lot of high-quality content, released on a regular publication schedule, to attract the listenership you need to generate income. But once you’ve done that, advertising alone can bring in $20 to $100 per episode for every 1,000 followers you have, according to the podcasting platform Riverside. Add a few monetization strategies to that, and you could earn good money, if not easy money, from your show.
Yorkshire Podcast Studios can help get you heard
Yorkshire Podcast Studios can get you up and running. If you are looking for high-quality studios in which you can record podcasts, livestream broadcasts and get your audio or video to the audience you want in the most effective way possible, get in touch with us here at Yorkshire Podcast Studios.
We look forward to seeing you (for a brew and a chat) at Yorkshire Podcast Studios soon.
Give us a call on 0113 479 0774 or email: info@yorkshirepodcaststudios.com