How to Make Money from Podcasting: 12 tips and tricks (2023)

With today’s constant stream of podcast content, for many it can be odd to think of a time before popping on your favourite podcast on your morning walk or to unwind in the evening.

The abundance of podcasts covers almost everything and anything. Topics can range from true crime to comedy and history to pop culture, and listeners can tune in from almost anywhere unlike traditional broadcast radio and television. 

We are almost spoilt for choice, but still, new podcasts are released every single day. There are over 2.4 million podcasts available across a variety of digital platforms at the moment! 

The reason why is that it’s super easy to start your own podcast. If you have a microphone and a computer, you’re pretty much ready. As long as you have a good idea and a passion for what you’re talking about, there is someone out there willing to listen.

However, if you wondering how to make money from podcasting you’ll need to do a few things first. 

So, if you are thinking about starting a podcast or you want to monetise one you’re already making, here are some useful tips and tricks to effectively profit from your output.

12 ways to make money from podcasting

1. Get sponsorships or sell ads
2. Affiliate sales
3. Join an advertising network
4. Syndicate your show on Youtube
5. Offer paid membership tiers
6. Sell content upgrades
7. Create a paid e-course
8. Sell consulting services
9. Events, conferences & public speaking
10. Sell merchandise
11. Write a book
12. Crowdfunding and Donations

1. Get sponsorships or sell ads 

In terms of podcast ads, there are typically two types. The first is where the host promotes the product. You will only have to share and talk about the product or said service. This doesn’t need to disturb the flow of your episode and you can be in control. 

The second is pre-recorded ads. The company will buy an ad slot and then will provide you with a pre-recorded advert. If you’ve got a large audience or even if you provide to a niche audience, it shouldn’t be difficult to secure a sponsorship or advertising deal. 

2. Affiliate sales  

Similar to sponsorships, with affiliate sales you get paid based on what you sell for another company and the company will pay you based on a commission for each sale.   

If you choose to use affiliate sales to benefit financially from your podcasts, it is profitable to ensure the company gives you a link or code for your listeners. When a member of your audience uses your link or code, you get credit for the sale and thus earn. 

 

3. Join an advertising network 

Podcast advertising networks connect podcast hosts with budding matches for brands and sponsors, which saves you time and work instead of searching for them yourself. Networks such as Midroll, AdvertiseCast and PodGrid can be effective for this.

4. Syndicate your show to Youtube 

Simply posting your podcast to the YouTube platform opens doors to monetising your content through the YouTube Partner program. You are also able to reach a wider audience this way to listeners who may not jump onto conventional podcast platforms. 

This way you get a part of the revenue for ads that are displayed before and during your content. It is important to note that you will have to meet certain eligibility requirements in order to profit on YouTube and have a minimum subscriber and viewer count. 

5. Offer paid membership tiers 

If you want to maintain your independence from brand partnerships, then this option could suit you. Especially if you have an eager audience, this is a reliable way to receive income. 

You are able to receive regular payments that you prescribe in exchange for exclusive content and features. This works best for podcasts that have a loyal viewership that frequently engages with your content, and you are still able to remain ad-free. Patreon is a good platform for setting this up.

6. Sell content upgrades 

Content upgrades are a simple yet secure route to earn from your podcast. It is necessary that the upgrade be should relevant to the content of your episode and extend to your audience’s overall experience and takeaway.  

You can use it as a tool to offer your listeners further and valuable advice on a specific subject discussed in your podcast, for example by offering an action plan or offering more in-depth information on the topic. 

7. Create a paid e-course  

If you already have a consistent and dedicated audience, an e-course could be attractive to your listeners. This is especially the case if your podcast subject matter is informative or educational to some degree. 

An e-course doesn’t need to be too time-consuming or cost-prohibitive though; offering some quick tips and tips can be an effective way to monetise your content. 

8.  Sell consulting or coaching services 

You can begin to offer services to other budding podcast creators once you have learned the ropes, know what works and have seen the successes. 

Offering consulting or coaching services will help you deliver personalised plans and advice to clients on how to grow their reach, advertise their podcasts and profit. 

9. Events, conferences & public speaking 

Once you have built up a devoted fanbase, they will want to meet and interact with you. This is a great way to monetise your podcast, as viewers feel they relate to your subject matter and persona. 

It is also a great tactic if you are a confident public speaker and love to connect with your audience this way. You will be able to bring your community together, thus furthering your likeability and the strength of your fanbase, who will want to continue to engage with your content. 

10. Sell merchandise   

Speaking of that dedicated fanbase, it can also be a great benefit to create merch they can buy. You can turn your recognisable logo or artwork of your podcast into clothing items, posters and even mugs.

The sale of the merch is a direct profit for you, and viewers proudly wearing your merch acts as free marketing! 

11. Books 

If you have succeeded in selling content upgrades or people purchasing your e-courses, chances are your viewers are curious and hungry for a deeper dive into your subject matter. 

You can reach other audiences this way and promote your books as a guest on other podcasts.

12. Crowdfunding & Donations 

If your audience resonates with your podcast and persona, they may be likely to offer you a donation in order to support your podcast, especially ones that are entertainment–focused. 

A handy platform for this is Patreon, which allows you to easily include additional content depending on the size of the donation from your listener.   

 

How to start podcasting 

If you are looking to delve into the world of podcasting and successfully monetise your content it is important to learn the ropes first. A podcast is more likely to be profitable if the quality of the work is high and the listeners resonate with the production and subject matter. 

Training providers such as Big Creative Education offer free adult learning courses liek Podcasting Fundamentals, giving you the opportunity to gain invaluable knowledge from industry professionals and master new skills like podcasting. 

If you are interested, apply here: http://bigcreative.education/aeb/podcasting-fundamentals/