A podcast is actually a radio channel on demand – that’s where you download the episode and save it, for example, on your phone or PC and you’ll listen to it whenever it suits you. For example, if you have a longer transport time to and from work or school, listening to a podcast may be obvious.
There are many ways to make money making podcasts. It is possible that you already have a product that you have to sell – it may be body workout or skin cream, and you can use the podcast to present the product. However, most podcasts are lengthy and deal with a particular topic.
Lifestyle is a popular topic, but a topic such as gaming, there are also a lot of podcasts for. If you only have the topic to talk about and no product to sell and your podcast becomes popular enough, then the way to earn money is to find a sponsor.
Just hold back a bit so that you dont get too many promotional blocks in your episodes, because it’s really easy to lose listeners, as there will always be another podcast to find out there on the same topic. If you lose listeners, you also lose money, and that, you can not.
A single sponsorship in every episode is just fine – and if you find the right sponsor relevant to the topic you’re talking about, or maybe specific to one episode, then they hit a group of people that know about the topic. Then your listeners dont get so tiredly in the ears because they are tuned into your podcast because they are interested in the topic already.
There is the opportunity to find networks that can give you contact with appropriate sponsors such as Podtrac or you can find sponsors yourself. You could also ask for donations, and even give episodes for free and take money for the rest. Alternatively, you can make a teaser for the episode and take money for the full version.
If you get the chance to get visitors to your show that are relevant and maybe even already known, it will give you even more listeners so once you’ve established yourself to convince already known people, you’re well-run.
How much money can you really earn? Can it really pay off, or just end up with a little extra pocket money? Looking at Pat Flynn, who runs Smart Passive Income, he says that in 2014 he earned $275,000 on podcasts alone. Consider that!
Especially if you live in a country like mine, that gives you tax-rebate for the part of your income that is based on sponsorships, then the potential profit can be quite significant.