Every day many individuals searching How to Earn Money from podcasts? As the podcast has become the most trending way to earn money online.
Hey, are you searching for ways to boost your income?
If you wish to earn money through Podcast then read this blog till the end. In this blog we’ll discuss Podcast Monetization Platform and How do Podcast Platform Make Money?
Let dive into the information understand ways to Earn Money from podcasts.
What is Podcast?
In simple words podcast is an episode series of digital audio or video files that a user can download to listen to or watch either via a podcast app, website, or smart speaker. You can subscribe to them, which makes it simple to get notified when new episodes come out. Nowadays this is one of the trending ways to Earn Money from podcasts.
In the mid-2000s, MTV VJ Adam Curry as a team with Dave Winer thought of the possibility of – to automatically convey and synchronize the textual substance to portable sound players. IPODDEXR was the first application that depended on this thought of podcasting. Also, by the late 2000s, Audio Podcasts began to assume control over radio, as the less expensive equipment and programming expected to do the sound recording and editing were presently open to general crowds.
Furthermore, along these lines, It cleared the way for, as far as we might be concerned today – Podcasting. The primary distinction between radio and podcasts is the comfort of the audience. That is in basic words, its radio over the web.
How to create a Podcast?
To begin a Podcast, at an absolute minimum, you need to follow following steps:
1: Build an idea (a subject, name, organization, and target length for every scene).
2: Plan work of art and compose a description to “brand” your podcast.
3: Record and alter your sound documents eg. MP3s. A microphone is suggested.
4: Discover a spot to have them, (for example, a record have that works in podcast hosting).
5: Sync these audio documents to podcasting platforms so people can check out your amazing content.
Podcast Monetization Platforms
There are different platforms where you can share your Podcasts. You can select any platform as per your niche. Let’s see some of the best platforms to share Podcast:
- Spotify: Spotify podcast monetization is one of the best places to upload your podcast as it is a multi-billion worth Music Streaming provider. This platform consists of a massive number of subscribers around the world. So it is one of the best platforms to begin your podcast journey.
- Google Podcasts: Google is everywhere including iOS devices. With google’s trademark Analytics, podcast monetization platform Google is one of the best things to do is its simple user-friendly interface.
- Soundcloud: This podcast monetization platform is the best place to publish your podcast and be found. With its user being the top players of Music production & podcasting, Soundcloud serves incredible opportunities to gain new audiences. Even its basic plan works fine & is completely free.
How does Podcast Make Money?
When it comes to getting income from the Podcast includes two major distinctions in how podcasts make money are direct podcast monetization and indirect podcast monetization. When these two distinctions are combined, they become the best way to produce a balanced revenue stream that can help you earn an income.
Direct podcast monetization is the most popular category to earn. It happens when the show is the thing you’re selling. This includes earning profit through developing original content, repurposing it, and allowing exclusive access to paying members.
Where indirect podcast monetization includes podcasts as a tool to sell other things. In this way, your podcast becomes the vehicle to promote products and develop demand among your listeners.
How to Monetize a Podcast Directly?
Numerous individuals have questions in mind, how to monetize a podcast directly? As everyone wants to earn hard and fast. Following are some direct monetization strategies from which you can select one that fits best for your show.
- Asking for Donations
Asking for money in the podcast is the simplest way to monetize a podcast. An ample of fans feel happy to donate some amount to their favorite podcasters to make sure they continue to get amazing content.
- Creating Paid Membership Tiers
Developing paid membership tiers is the latest trend in podcasting. Your fan/ listeners can pay to access exclusive content through a private Facebook group, or podcast swag.
- Sell Sponsorship or Ads
Another most common way to monetize your podcast show. In this strategy, you don’t have to create or sell anything, but you just have to set up a deal with a sponsor. For example. Some podcasters start and end with something like “This episode is brought to you by [name of company]”. You have to take the name of the sponsoring company in your podcast.
- Hookup with Advertising Network
Advertising networks work as middlemen between hosts and sponsors. When you apply to every platform, they will take a cut from the ad placements involved in your podcast show. Generally, the revenue share follows a CPM model where you get to pay for every 1000 impressions served to the ad unit. This depends on your reach.
- Syndicate Your Show To YouTube
Another easy way to earn some amount is by publishing your podcasts to YouTube as videos. What you have to do is, enable monetization in your account setting and Google will handle the ads and distributing your money. This doesn’t need must editing. Just put a single image to your episode recording and YouTube SEO so your video gets in more search results.
How to Monetize a Podcast Indirectly?
If you wish to earn some money in an indirect way then check out the following strategies.
- Selling Physical Products
In indirect monetizing podcasts include physical products like selling T-shirts, mugs, stickers, or things that let your audience connect with the show. When an audience loves your podcast show, they might be purchasing merchandise that shows off the show. You can sell such products by showcasing the [podcast’s name, using repeated catch phase, or creating an inside joke on the merchandise.
- Sell Access to an E-Course
If you serve some educational content in your podcast or aims to teach listeners a new skill, developing an e-course is the perfect way to earn some money. To build a course, you can either do it on your website or host it on a third-party platform.
- Host an Event
In case you have a local following or dedicated audience who will not mind traveling to see you live. For such an event you can sell tickets to earn money. You are even should depend on your audience and your podcast’s topic. Such events can include lectures, workshops, skills teaching, or simply host a group discussion. This way of monetization is challenging and should not go for it until you have a loyal following.
- Selling an Applications
You can monetize a podcast by building an app that suits your listeners’ needs. Your app must be relevant to your podcasts for example if your podcasts are about astronomy, then your app should be on a start-finder. Also, you might sell a simple branded app that helps individuals interact with you.
- Selling Affiliate Products
This is one of the best ways to earn money indirectly. Here you have to take affiliation from the companies who have open affiliate programs. Just sign up to it and tell them where to send your payment and whenever someone signs up with your link you will get money/ your share.
Hope you understand the what are the podcast monetization platforms and how do podcast platform make money. Now you have strategies to Earn Money from Podcasts.