Podcasting for Profit: How to Make Money With Your Podcast




Podcasts are among the most popular form of modern media. In addition to being highly entertaining and informative, they’re remarkably easy to make with even basic recording equipment, a fact which has led to a huge number of people starting their own small podcasts. Podcasting, however, can be a profitable business as well as a fun hobby. Here are a few of the ways you can make money from your small podcast.




Get Listeners to Pay You for the Content You Create




One of the simplest ways to make some money from your podcast is to get listeners to contribute directly. Although most popular podcasting platforms are free, there are still ways to allow your dedicated fans to contribute to your show. Patreon, for instance, is a platform specifically built to let people give money to their favorite artists and creators. By setting up a Patreon page and mentioning it at the end of your episodes, you can start to build up a base of fans who are willing to pay you for the hard work you put into your podcast.




Have Businesses Sponsor Your Podcast




Business sponsorships are the bread and butter of most successful podcasts. If you have a few thousand listeners, you can actually make reasonably good money by mentioning sponsors or inserting their ads at the beginning of your episodes. Some podcasters also choose to insert longer ads into the middle of their episodes, a model which usually works best for longer podcasts. The best part about this method is that you can charge more for sponsorships as your audience continues to grow, as businesses will be willing to pay more for a larger reach.




Use Your Podcast to Promote a Monetized Website




Another method for monetizing your podcast is a bit roundabout, but still very effective. If you set up a website to go along with your podcast and publish articles there, you can monetize the site with pay-per-click ads and affiliate links. Mention the site in every episode of your show, and you’ll start to see traffic going to it. You can even use partial transcripts of old episodes as articles, making the content creation process for the site very easy.




Create and Sell an Infoproduct




If your podcast is on a subject that people will pay good money to learn more about, you may be able to create and sell an information product such as an ebook or course. Since you already have an audience of people you know are interested in the content you produce, selling your infoproduct is as simple as promoting it at the end of every episode of your podcast. As your audience grows, you’ll also see a stream of consistent sales coming in month after month.




These are just some of the ways that podcasters can turn their hobby into a profitable business. If you want your podcast to be more than just a hobby project, consider implementing some of these methods to begin generating some revenue from it.