Here’s a real-life example of how this works. When Shonen Flop invited Red from Overly Sarcastic Productions to guest star, the show got a big jump in listenership. That makes sense – Overly Sarcastic Productions has over 2 million subscribers on YouTube.
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Listeners (and potential advertisers) tune out when sound quality is low. Make audio a priority from day one.
The most popular way to do this is Patreon. Hit podcasts net hundreds of thousands of dollars per year on the platform. You’re Wrong About has over 23,000 subscribers who pay between and a month for extra content and community. While YWA’s exact revenue isn’t public, some back of the napkin math tells you they’re making a tidy sum.
After that, make connections with other podcasters in your wheelhouse. Host a show about Barbies? Make friends with the American Girl podcast host. You can work together to make great episodes and boost your profile.
Is all this talk of monetization starting to kill your joy for podcasting? Hit the brakes.
1. Get Real
Think you can get away with phoning it in? Think again.
And who knows? Maybe someday Ira Glass will Tweet out your podcast, gaining you thousands of subscribers and a Casper Mattress ad deal.
Most podcasts fall somewhere in between. Shonen Flop is one of them. As of this writing, the podcast makes 6 per month on Patreon: not enough for the creators to quit their day jobs, but enough to cover the cost of their hobby.
2. Get Professional
Three, you can wait for advertisers to come to you. Once your numbers hit about 1,000 downloads per episode, you might get a knock on the proverbial door.
When setting goals for podcasting income, be realistic. You probably won’t make a million in your first year. Focus on putting out the best show you can in the meantime.
Businesses big and small are always on the lookout for places to advertise. Why not your podcast?
Another major revenue stream for podcasters is their audience. Many fans will throw in a few bucks a month for early, ad-free, and bonus content.
Start small. “Those initial hundred listens a month are all going to be people that know you,” Weinberger said.
Not every podcast is going to be as popular – or profitable – as Serial. But plenty of podcasters make a little extra money doing what they love. We asked Weinberger to walk us through the steps.
Two, you can connect with a middle man who pitches advertisers for you. If you’ve chosen to host your podcast with a service like Libsyn or Anchor, getting paired with brands is part of the deal.
3. Get Promoted
“I honestly think if me and my co-host had just bought mics we would be … in a better spot,” Weinberger said.
Second, learn how to use audio editing software – Audacity is a popular (and free!) option. Weinberger has an excellent, thorough guide available right here.
Making money with podcasting is a totally realistic goal. But how much money? Spotify reportedly paid 0 million for exclusive rights to The Joe Rogan Experience. Amazon spent 0 million on Exactly Right Media’s podcast portfolio (read: My Favorite Murder). But for every uber-successful megahit podcast, there are a hundred others that never make a cent.
There are three main ways you can connect with sponsors. One, you can approach them. There’s nothing wrong with cold-emailing a business and asking them if they’d like to team up.
4. Get Sponsored
Note: just because a business offers to sponsor you doesn’t mean you have to say yes. Shonen Flop has been approached by advertisers. So far, they’ve said no. Why leave money on the table? For now, explains Weinberger, “the additional overhead and hassle on the arrangements to get people to advertise on our show … isn’t worth it.”
“Your first episode will always be your first episode,” Weinberger said. If it’s full of static, road noise and “um”s, no one will listen to episode two.
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There are plenty of ways to make money podcasting, from placing ads to selling merch. The most popular podcasters make millions, but even hobbyists can make some extra cash.
The podcast’s funny, and in-depth reviews have earned it hundreds of five-star ratings – and a few hundred bucks a month for Weinberger.
5. Get Fans
If you want to make money with podcasting, you need listeners. How do you find them?
These days, everyone and their ex-boyfriend has a podcast. But do they actually make money with it?
Finally, be ruthless. Filler words, misspeaks, and unfunny tangents have got to go. “We record for about an hour and ten minutes and we get that down to about fifty five minutes,” Weinberger said. “If you’re cutting fifteen minutes, you’re cutting the worst fifteen minutes of your show.”
Don’t Want to Monetize? It Can Just Be Fun
Take David Weinberger co-host of Shonen Flop, for example.
There are a few simple things you can do to sound great from the beginning. First, acquire a decent microphone.
Fans of the show might also shell out for merchandise. Printed t-shirts are an old stand-by – and relatively easy to produce.
Ready to stop worrying about money?
“There’s definitely been temptation to say: can we make a career out of this?” Weinberger said. “But then, if it’s your job, it adds a lot more stress for you. You really have to care about your listenership.” <!–
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Source: thepennyhoarder.com