However, there are plenty of practical examples of serious podcasters making a nice living out of podcasting. The only thing you need is a good dose of entrepreneurship, a lot of knowledge and enough time. Because you can only make money with a podcast by consistently producing valuable episodes that provide listeners with relevant information and/or inspiration.
In this article we will tell you more about the revenue models of podcasts, how you can make money without listeners and what is the best time to start. Or listen to the podcast of Rutger Steenbergen of SEO Zwolle, in which Nico Oud, Co-founder of Springcast, tells more about making serious money with podcasts.
Making money with a podcast
Making money with a podcast is actually very similar to the earnings model behind some bloggers or vloggers. Those who write content or make videos for a living. They often receive a certain amount of money for the number of visitors or viewers. And that's how it often works in the podcast world too.
In practice, we often see two groups making money with podcasts:
- Podcasters using podcast advertising.
- And a group that uses sponsors and influencers.
Just as some bloggers or vloggers get paid by the number of visitors or viewers, some podcaster also get paid by the number of listeners. Often on the basis of CPM (Cost Per Mille), also called Cost Per Thousand. This simply means that they get paid per 1,000 listeners of the platform on which they place the podcast.
A few "happy few" earn a lot of money with this advertising method. But the vast majority have difficulty making a good living out of it. You don't get 1,000 listeners just like that. An good business podcast strategy is one of the key success factors.
Advertisements in your podcast
Just like with videos, it's possible to put ads in your podcast. Advertisements before you start a podcast, halfway through the podcast or after your podcast is finished. Some platforms require that you have at least 20,000 listeners per month. Many free platforms allow you to add ads without conditions and earn money from them. For every 1,000 listeners, the amount you can cash in can quickly run from a few euros to a few tens per podcast show.
The other group consists of people who promote brands during their podcast. This can be done in two ways: a clear promotion or unnoticed. In the case of clear promotion, the sponsors are mentioned by name and the products or services are briefly explained.
Another way of promotion is through influencing: influencing the behaviour of listeners unnoticed. By promoting a product or service unnoticed, they can 'influence' this large group of followers.
In this group you often see the big earners among the podcasters. They actually sell their platform to a number of (main) sponsors. At Springcast we do see cases where sponsorship deals are made for €100 to €500 per episode. At the main sponsor level, sometimes up to €200,000 per year. You just have to be active in a niche market, have a large reach and have built up a certain authority 😉 .
The famous influencer Monica Geuze In addition to her vlogs, she also uses podcasts to promote products, services or people. Every week, she invites a new guest for a good and pleasant conversation. And just like her videos on YouTube, she earns a nice income from this.
Influencing business podcasts
In many popular business podcasts, you don't see many influencers. This is often because business podcasters want to strengthen their own branding, not that of someone else. However, 9/10 times sponsors are mentioned in a podcast: at the beginning, middle or end. This can quickly bring in a few hundred to thousands of euros if you have a very large reach and expert status.
Making money with few listeners
The number of listeners and the built-up authority of your podcast is therefore important if you want to make a good income from it. However, this doesn't have to be the case in all cases, because you can also earn well with a few listeners. If you reach a very specific target group with your podcast, a real niche market, then you can even get a very good remuneration with 1,000 listeners.
When you know how to reach a target group from the niche market, advertisers are more willing to pay for it. Think for example of the generation between 16 and 22 years old. A difficult target group to reach, because they often hop from channel to channel. If you are able to reach them well with your podcast, some advertisers are willing to pay a lot for it.
Are you not active in a niche market but would still like to earn a nice extra income from your podcast? Maybe this article can help you to more listeners to your podcast to get.
A good time to start
The ideal time to start earning money with your podcast depends on your goal. For example, if you're an entrepreneur and you want to build a passive revenue stream, it's best to start right away. Listeners will get used to it right away. If you start podcasting first and add ads later, there might be some resistance from your listeners.
Think carefully beforehand about why you want to advertise and don't just accept any sponsor. Only select advertisers who fit your story or convictions, otherwise your credibility will suffer. Also choose a subtle way of advertising.
If you have started a business podcast to strengthen your branding, our advice is to focus on the listening experience rather than making money. Subtle promotion of your own products or services is of course possible.
Other ways to make money with your podcast
Podcast advertising and sponsorship are the most common ways to make money with your podcast. But there are many more. And since the developments in the podcast market are absolutely not standing still, there will surely be more earning models 😉 😉 I'm sure you'll be able to make money with your podcast.
Promote your podcast to other podcasts
As a podcast guest, you often receive remuneration for speaking in a podcast, especially if you are an expert in your field.
Interview other podcast creators in your podcast
Engage with fellow podcasters in your own podcast and let them promote their own podcast for a small fee.
See if you can get funding for your podcast
Subsidies are mostly cost-effective, but it is always worthwhile to see if you can get them. When grants are given, it is mainly for social podcasts, or about art and culture.
Get sponsored: e.g. by additional paid content
Use subscription models to make your podcast accessible to listeners. Or let them listen to your podcast's bonus material for a fee.
Hiring yourself out as a podcast host or chairman of the podcast
Many podcasts in which several speakers are guests are led by a podcast host. Similar to a chairperson at an event. The payments are also similar.
As you can read in this article, there are several ways to make money with your podcast. But always keep in mind for which purpose you started your podcast and whether advertising in your podcast fits in with that. And if so, which way to advertise.
And not only that, you also have to make consistently valuable episodes for your listeners. Because to make serious money with your podcast, you need a lot of content, a good dose of entrepreneurship, knowledge and enough time.
Haven't started podcasting yet? With the help of this article you can start formulate business podcast strategy. And in this article you can read a lot useful tips to achieve a professional result right from the start.
Happy Podcasting! ✌💚