Making a podcast appeals to a lot of people and you can actually earn more money with podcasts than you can on YouTube. Great for people who don’t want to go on camera.
No matter who you are, you have something to say, something to teach, and/or want to be an entertainer. Otherwise, you wouldn’t have ended up at this article.
I am going to explore the world of podcast earnings so you can know how you can make money off of a podcast. I will also delve a little into how much the highest-earning podcasts bring in.
How Podcasts Earn Money
Before we dig further into the earning potential of a podcast you should understand how podcasts earn money.
Understanding the different ways that money is made and that not every platform earns money in the same way, is essential to making money. Here are the most common ways for podcasts to get earnings.
Some platforms place ads in podcasts and allow the creators to earn a portion of money from the traffic routed through the ad or simply from the number of times the ad is listened to/displayed.
If a platform does have advertising available to creators, they typically have requirements that must be met before you can start monetizing your episodes. The most common requirements have to do with the number of listeners, the number of episodes, time on a platform, etc.
Sponsors are similar to advertising but are a little different. Typically a creator has to go out and find their own sponsors or the sponsors come directly to them.
Working with sponsors can entail a wide range of things such as mentioning their sponsorship, a product, or giving out product codes. A sponsor can get you a lot of money and helps to show future sponsors and listeners about the popularity of your podcast.
Try to work with sponsors who are relevant to your podcast. Your listeners don’t want to hear content that takes away from the podcast and will appreciate discounts towards relevant products if you can get them.