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07/07/2024

How to Make Money from a Podcast—12 Effective Strategies

In the last decade, podcasting has transformed from a niche hobby into a lucrative venture. Whether you're a seasoned podcaster or starting fresh, understanding how to monetise your content is crucial. In this guide, we'll go over 12 strategies on how to make money from a podcast. Let's turn your passtime into a profitable venture!

The podcasting industry is experiencing remarkable growth. Today, there are over 4 million podcasts and more than 70 million podcast episodes available globally​). Additionally, the podcasting market is projected to be worth nearly £3 billion by 2028. This booming industry presents a fantastic opportunity for podcasters to monetise their content.

At TYX, our podcasting studios have hosted some of the UK’s top talent. Beyond ensuring professional video and audio quality, we also know what it takes to take a podcast from rags to riches.

Ready to take your own podcast to the moon? Let’s dive in!

Table of contents

  1. Leverage sponsorships and podcast ads
  2. Create exclusive content for premium subscribers
  3. Sell merchandise
  4. Use affiliate marketing
  5. Promote online courses and workshops
  6. Engage your audience through social media
  7. Optimise your podcast’s RSS feed and directories
  8. Partner with podcast advertising networks
  9. Publish engaging show notes and blog posts
  10. Host live events and webinars
  11. Offer consulting or coaching services
  12. Don’t underestimate crowdfunding

1. Leverage sponsorships and podcast ads

Podcasting ad revenue is projected to cross the $4 billion mark this year, and most successful podcasts utilise this tactic. Unlike an ad on television, when your favourite podcast host recommends a brand, you’re more likely to pay attention. That’s sponsorship in action. It’s long been a tried and tested way to make money while staying true to your content.

Find the right sponsors

First, look for sponsors that fit naturally with your podcast. If you’re talking tech, reach out to gadget makers. Discussing health? Connect with wellness brands.

Use podcast advertising networks to find brands that are already looking for podcasts like yours. Also, don’t shy away from pitching to local businesses or startups who might be interested in tapping into your dedicated audience. The 3 main types of podcast ads are:

Pre-roll ads – Short and sweet, these play at the start of your episode, grabbing listeners’ attention right away.

Mid-roll ads – These appear in the middle of your podcast and can be longer, allowing for a more detailed message.

Post-roll ads – These ads come at the end of your podcast episode. They are a good fit for brief call-to-actions or reminders.

Remember to keep your ad content engaging and authentic. Speak from personal experience with the product or service if possible. Your podcast listeners trust you, so your endorsement can make a big difference. Avoid sounding too scripted—aim for a natural, conversational tone.

man smiling in front of map

Mike Duncan (shown above) is known for his “History of Rome” and “Revolutions” podcasts. He maintained audience trust by being upfront about his financial need for advertising, while only showcasing brands he uses and cares about.

Measure your success

Track the performance of your ads to show potential sponsors the value of partnering with you. Use promo codes, custom URLs, or analytics from your podcast hosting platform to gather data on listener engagement. This can help you refine your approach and attract more lucrative sponsorship deals.

2. Create exclusive content for premium subscribers

Exclusive content has become one of the most effective ways to increase your podcasting revenue stream. By providing bonus material to paying subscribers, you can generate a steady stream of income while rewarding your most dedicated listeners.

Develop unique and valuable content

To entice listeners to become premium subscribers, you need to offer something they can’t get in your regular podcast episodes. Consider creating:

  1. Bonus episodes – Special episodes that dive deeper into popular topics or feature guest interviews not available to free listeners.
  2. Early access – Release episodes to your subscribers before they go live for the general public.
  3. Ad-free content – Offer an uninterrupted listening experience to those who subscribe.

Platforms like Apple Podcasts Subscriptions, Patreon, and Supercast make it easy to set up and manage premium subscriptions. These platforms handle the logistics, so you can focus on creating great content.

2 man laughing with mic and coloured background

Source

Since Matt & Shane’s Secret Podcast (a comedy podcast) moved to Patreon, they have become one of the most popular shows on the platform, boasting over 84,000 subscribers.

Make sure you remind your podcast audience about the benefits of subscribing. Mention exclusive content at the beginning and end of your episodes, and include details in your show notes. Engage with your audience on social media platforms to build excitement around your premium offerings.

Offer behind-the-scenes looks, host Q&A sessions, or create a private community where subscribers can interact with you and each other. More than just making more money, exclusive content helps you build a closer connection with your audience.

3. Sell merchandise

Selling ‘merch’ is one of the most effective ways to make money podcasting. Your loyal listeners will love the opportunity to support you while showing off their favourite podcast.

Think about what your audience would love to wear or use. Common items include:

T-shirts – Simple and popular, T-shirts with your podcast’s logo or catchy phrases are always a hit.

Mugs – Everyone loves a good coffee mug, especially with a fun design or podcast-related slogan.

Stickers – Affordable and versatile, stickers can be used on laptops, water bottles, and more.

Work with a graphic designer if you’re not artistically inclined, or use online tools to create your own designs. Platforms like Printful, Teespring, and Merch by Amazon can help you produce and ship your merchandise with minimal hassle.

Smiling man with beard wearing funky t-shirt and pointing to it

The Cryptonaut Podcast doesn’t scrimp on its merchandise, selling uniquely designed clothes that encapsulate its brand.

Set up an online store

Today, setting up an online store is easier than ever. Websites like Shopify, BigCommerce, and Etsy provide user-friendly interfaces for selling your merch. Make sure your store is easy to navigate, and keep your product descriptions clear and engaging.

Promote your merchandise on your podcast and social media

Mention your merch in your podcast episodes and include links in your show notes. Use your social media platforms to showcase new designs, run contests, or offer limited-time discounts. Engaging visuals and enthusiastic promotion can help drive sales.

Offer exclusive merchandise for subscribers

To boost your premium content strategy, consider offering exclusive merchandise to your subscribers. Limited-edition items or special designs can make subscribing even more attractive to your audience.

Selling merchandise that your listeners love generates additional income and strengthens the sense of community around your podcast. Plus, every T-shirt or mug sold is a walking advertisement, potentially attracting more listeners to your show.

4. Use affiliate marketing

Hand drawn flat design affiliate marketing infographic

Affiliate marketing is a tactic used across all industries, not just podcasting. It’s a smart way to earn extra income by promoting products and services you believe in. By including affiliate links in your podcast content, you can make money whenever your listeners make a purchase through your recommendation.

Here’s a step-by-step guide to boost your affiliate sales:

Step 1: Choose the right affiliate programs

Start by selecting affiliate programs that match your podcast’s niche and audience interests. If you run a tech podcast, look for affiliate programs from tech companies or online retailers that sell gadgets. Popular affiliate programs include Amazon Associates, ShareASale, and CJ Affiliate.

Step 2. Seamlessly integrate affiliate links into your content

Mention products and services naturally within your podcast episodes. For example, if you’re discussing productivity tools, you might say, “I’ve been using this fantastic task management app, and you can check it out through my affiliate link in the show notes.” Include these links in your show notes and on your podcast website.

Step 3: Be transparent with your audience

Trust is crucial in affiliate marketing. Always disclose that you’re using affiliate links. A simple statement like, “This episode includes affiliate links. If you purchase through these links, I may earn a commission at no extra cost to you,” ensures transparency and maintains listener trust.

Step4: Track your affiliate performance

Most affiliate programs provide analytics to help you track clicks and sales generated through your links. Use this data to understand what resonates with your audience and to refine your approach. Highlighting products that your listeners find valuable will enhance your affiliate marketing success.

Step 5: Maximise your reach

Promote your affiliate links across all your platforms. Mention them in your podcast episodes, include them in your show notes, and share them on social media. You can also create dedicated blog posts or reviews on your podcast website to drive more traffic to your affiliate links.

5. Promote online courses and workshops

Transform your knowledge into a revenue stream by creating online courses and workshops. This provides your listeners with valuable educational content, often generating a passive income.

Start by pinpointing what your audience is eager to learn. If your podcast focuses on personal finance, consider offering courses on budgeting, investing, or retirement planning. Listen feedback to gauge interest and identify gaps in the market.

Invest time in creating comprehensive and engaging course material. Break down complex topics into easily digestible modules, and use a mix of videos, slides, and downloadable resources to enhance learning. Tools like Teachable, Udemy, and Thinkific make it easy to create and sell online courses.

Host live workshops

In addition to pre-recorded courses, consider hosting live workshops. These can be interactive sessions where you dive deep into a subject and answer questions in real-time. Platforms like Zoom and WebinarJam are excellent for conducting live online events.

Promote your courses and workshops

Use your podcast to announce and promote your educational offerings. Mention them at the beginning and end of episodes, and include links in your show notes. Highlight the benefits and key takeaways to entice your listeners. Additionally, leverage your social media platforms and email newsletter to reach a broader audience.

Provide value and build trust

Ensure your courses and workshops deliver exceptional value. Offering a free introductory module or a money-back guarantee can help build trust and encourage sign-ups. Collect testimonials from satisfied students to showcase the effectiveness of your teaching.

Engage with your learners

Maintain a connection with your students through follow-up emails, exclusive online communities, or additional resources. This ongoing engagement can lead to repeat business and foster a loyal, supportive community around your podcast.

6. Engage your audience through social media

If you’re not using the digital landscape to its full potential, you could be missing out. By actively engaging with your listeners on social media, you can build a strong community and drive more traffic to your episodes.

Focus on the social media platforms where your audience is most active. For most podcasters, the big contenders are:

Instagram – Share behind-the-scenes content, episode teasers, and engage with followers through stories and posts.

Twitter (X)– Use this platform for real-time updates, engaging in conversations, and sharing episode links.

Facebook – Create a dedicated page or group for your podcast where listeners can discuss episodes and share feedback.

TikTok – Create short, engaging videos to highlight key moments from your episodes and attract a younger audience.

What should you post on these platforms?

Episode highlights – Share short clips or quotes from your latest episodes.

Listener polls – Ask your audience for their opinions on upcoming topics or guest suggestions.

Interactive stories – Use Instagram or Facebook stories to conduct Q&As or share quick updates.

Interact with your audience

Engagement is key to building a loyal podcast audience, so always respond to comments when you can, like and share listener posts, and create opportunities for interaction. Moreover, consider hosting live sessions on Instagram or Facebook where you can connect directly with your listeners.

Promote your episodes and monetization efforts

Regularly share links to your latest episodes and remind your followers of any monetization options you have, such as premium content or merchandise. Use social media to highlight the benefits of subscribing or supporting your podcast.

Screenshot taken from twitter of YMH studios porfile

YMH Studios is a comedy podcast studio that sets the standard when it comes to audience engagement across social media.

7. Optimise your podcast’s RSS feed and directories

Close-up men discussing at radio

Your podcast’s RSS feed is the backbone of your distribution, ensuring that your episodes are delivered seamlessly to various podcast platforms. Optimizing your RSS feed and making sure your podcast is listed in all major directories can significantly boost your visibility and listener base.

An optimised RSS feed helps podcast directories like Apple Podcasts, Google Podcasts, and Spotify deliver your content accurately to listeners. Ensure your RSS feed includes:

Detailed metadata – Include comprehensive episode titles, descriptions, and show notes.

High-quality cover art – Make sure your podcast’s logo is clear and attractive, as it’s often the first thing potential listeners see.

Consistent episode formatting – Use a consistent naming convention and episode structure.

Listing your podcast in multiple directories increases your chances of being discovered by new listeners. Make sure your podcast is available on:

Apple Podcasts – As one of the largest podcast platforms, it’s crucial to be listed here.

Google Podcasts – Reach Android users and expand your audience.

Spotify – With its growing focus on podcasts, Spotify is an essential platform for visibility.

Other directories – Consider additional platforms like Stitcher, TuneIn, and iHeartRadio.

Encourage reviews and ratings

Encourage your listeners to leave reviews and ratings on platforms like Apple Podcasts. Positive reviews can boost your podcast’s visibility and attract more listeners. Mention this at the end of your episodes and include a call-to-action in your show notes.

Track your analytics

Use the analytics provided by your podcast host to understand how your episodes are performing. Look at metrics like the number of downloads, listener demographics, and listening duration. This data can help you tailor your content and improve your podcast monetization strategy.

Maintain a regular publishing schedule

Consistency is key in podcasting. Stick to a regular publishing schedule so your listeners know when to expect new episodes. This reliability helps build a loyal audience and can improve your podcast’s ranking in directories.

8. Partner with podcast advertising networks

Joining a podcast advertising network can simplify the process of monetizing your podcast. These networks connect podcasters with advertisers, making it easier to secure deals and manage ad placements.

Selecting the right network is crucial, so Look for networks that specialize in your podcast’s niche or have a good reputation within the industry. Some popular podcast advertising networks include:

  • Midroll – Known for working with well-established podcasts.
  • Podcorn – Great for podcasters of all sizes, offering a marketplace to connect with advertisers.
  • AdvertiseCast – Provides a straightforward platform for podcasters to find advertisers and manage campaigns.

Set your rates

Work with your chosen network to set fair rates for your ad slots. Rates can vary depending on your podcast’s audience size, niche, and engagement levels. Make sure to review industry standards and adjust your pricing as your podcast grows.

Your audience trusts you, so it’s essential to keep your ads relevant and authentic. Choose sponsors that align with your podcast’s content and values. Clearly disclose any sponsored content to maintain transparency and trust with your listeners.

Monitor your ad performance

Use the tools provided by your podcast advertising network to track the performance of your ads. Monitor metrics such as listener engagement and conversion rates to understand what works best for your audience. This data can help you optimize future ad placements and improve your overall podcast monetization strategy.

9. Publish engaging show notes and blog posts

Empty notebook and microphone

Show notes and blog posts are crucial for expanding your podcast’s reach and improving its SEO. They help your podcast episodes become more discoverable online, attract new listeners, and provide additional value to your existing audience.

Good show notes can summarize the key points of each episode and include important links and references. Here’s how to make them effective:

Summarize the episode – Provide a brief overview of the main topics discussed.

Include timestamps – Highlight key moments so listeners can easily find specific segments.

Link to resources – Add links to books, articles, or products mentioned in the episode.

List guest details – Include information about any guests, including their bio and social media links.

Below is an example of podcast show notes taken from The Joe Rogan Experience.

Show notes from Joe Rogan Podcast

Source

Write blog posts for each episode

Writing an article for each episode can enhance your podcast’s visibility and drive more traffic to your site. Core aspects to include:

  • Expand on episode topics – Dive deeper into the subjects discussed in the podcast.
  • Use SEO keywords – Integrate relevant keywords naturally to improve search engine rankings.
  • Embed the podcast player – Make it easy for visitors to listen to the episode directly from your blog.
  • Encourage engagement – Ask questions or prompt comments to foster interaction with your audience.
  • You can also add affiliate links where appropriate

Remember to promote your show notes and blog posts on your social media platforms to drive traffic. Share snippets or quotes from the episode, use engaging visuals, and include direct links to your blog.

Optimize for SEO

Ensure that both your show notes and blog posts are optimized for search engines:

Use relevant keywords – Naturally include keywords that your potential listeners might use to find content like yours.

Create compelling headlines – Make your titles catchy and informative.

Include meta descriptions – Write concise and engaging meta descriptions to improve click-through rates.

Two words for great show notes: value and consistency

Regularly updating your show notes and blog posts helps keep your content fresh and engaging. Consistent, high-quality posts can attract a dedicated audience and encourage repeat visits to your site.

10. Host live events and webinars

Speaker on the stage in front of the room with Rear view of Audience in put hand up acton

Hosting live events and webinars is an exciting way to engage with your audience and generate revenue. These events can offer your listeners a unique opportunity to interact with you and your content in real-time, creating a deeper connection and providing valuable experiences.

Determine the format and content of your live event or webinar. Popular options include:

Live podcast recordings – Invite your audience to watch a live recording of your podcast. This can include Q&A sessions or behind-the-scenes insights.

Workshops and seminars – Offer educational sessions on topics related to your podcast. For example, if your podcast is about entrepreneurship, you could host a workshop on starting a business.

Panel discussions – Bring in experts or other podcasters to discuss a specific topic in a panel format.

Select a platform that suits the nature of your event. For live streaming, consider using YouTube Live, Facebook Live, or Instagram Live. For more structured webinars, platforms like Zoom or WebinarJam offer robust features for hosting and interacting with attendees.

How to promote your event

Use your podcast episodes, show notes, and social media platforms to promote your event. Create engaging promotional content, such as teaser videos, countdowns, and behind-the-scenes glimpses, to build excitement. Encourage your listeners to share the event with their networks to increase reach.

Sell tickets or offer paid access

Monetize your live events by selling tickets or offering paid access. Platforms like Eventbrite or Patreon can help you manage ticket sales and subscriptions. Ensure your pricing reflects the value of the event, and consider offering early bird discounts or group rates to encourage sign-ups.

Keep your audience engaged

During the event, interact with your audience to make the experience memorable. Take questions, respond to comments, and acknowledge participants by name. This personal touch can enhance the sense of community and loyalty among your listeners.

Don’e forget the follow-up

After the event, send a thank-you message to attendees and ask for feedback. Share highlights or recordings of the event for those who couldn’t attend. This follow-up can help you refine future events and keep your audience engaged.

11. Offer consulting or coaching services

Speaker at Business Meeting in the conference hall.

If you’re an expert in your podcast’s niche, offering consulting or coaching services can be a lucrative way to monetize your knowledge and experience. Your listeners already trust your expertise, making them potential clients for personalized guidance.

Identify your area of expertise

Determine the specific areas where you can provide value. If your podcast focuses on digital marketing, you could offer services such as:

Business consulting – Help businesses develop effective marketing strategies.

Personal coaching – Guide individuals on career development or personal branding.

Workshops and training sessions – Conduct in-depth training on specific skills or tools.

Develop a range of service packages to cater to different client needs and budgets. You might offer:

One-on-one sessions – Personalized consulting or coaching sessions.

Group workshops – Interactive sessions for small groups.

Online courses – Structured courses that clients can complete at their own pace.

Promote your services

Use your podcast to advertise your consulting or coaching services. Mention them in your episodes, include details in your show notes, and create dedicated pages on your website. Highlight testimonials from satisfied clients to build credibility.

Engage with your clients

Provide exceptional value to your clients to build a strong reputation. Be responsive to their needs, offer actionable advice, and follow up to ensure their success. Happy clients are likely to refer others to your services, helping you grow your business.

12. Don’t underestimate crowdfunding

Crowdfunding allows your listeners to support you directly. Platforms like Patreon, Ko-fi, and Buy Me a Coffee make it easy to set up and manage a crowdfunding campaign.

Select a crowdfunding platform that suits your needs. Popular options include:

Patreon – Offers a subscription model where supporters (patrons) get access to exclusive content and perks.

Ko-fi – Allows supporters to make one-time donations or subscribe for monthly contributions.

Buy Me a Coffee – Similar to Ko-fi, with options for one-time donations or membership plans.

Encourage listeners to support your podcast by offering exclusive rewards. These can include:

Bonus episodes – Extra content available only to supporters.

Early access – Let supporters listen to episodes before they’re released to the public.

Merchandise – Send exclusive merch like T-shirts, mugs, or stickers to your supporters.

Personalised shoutouts – Acknowledge your supporters in your podcast episodes.

Promote your crowdfunding campaign

Regularly mention your crowdfunding campaign in your podcast episodes and show notes. Share the benefits of becoming a supporter and express gratitude for their contributions. Use social media to highlight exclusive content and rewards.

Engage with your supporters

Maintain a strong connection with your supporters by providing regular updates, exclusive content, and personal interactions. Show appreciation for their support and listen to their feedback. This engagement fosters loyalty and encourages continued support.

Conclusion

That wraps up our comprehensive guide to how to make money podcasting. Remember, how you choose to monetise will depend on your audience, values, and means. Ensure you do plenty of research before outlining your strategy, and good luck!

TYX Podcasting Studios

Podcast recording studios

Are you primed to host a successful podcast? We can help. Our London podcast recording studios have everything you need, including top-tier equipment, amazing sound-poofed spaces, and expert advice. Plus, we have a load of creative amenities for collaboration. Reach out to us to find out more!

OUR MOST ASKED QUESTIONS
Yes, Spotify pays podcasters through its Spotify for Podcasters program, primarily via ad revenue and sponsorships. Podcasters can also monetise their content through subscriptions and listener support features
Yes, you can get paid for being on a podcast. Payment methods vary, including appearance fees, revenue sharing, sponsorship deals, or promotional benefits. The amount and method depend on the podcast's popularity, the guest's prominence, and the specific agreements made​
The earnings of podcasters vary widely, depending on factors such as audience size, niche, and monetisation strategies. According to DemandSage, podcasters can earn between $500 to $900 per episode for 10,000 downloads. For podcasts with higher download rates, earnings can increase significantly. For example, those reaching 10,000 downloads per episode might earn between $1,000 and $5,000 per episode through a combination of ads, sponsorships, and other revenue streams​
Yes, like most podcast recording studios, we allow you to bring your own equipment if you prefer. However, it is important to inform the studio in advance about the specific equipment you plan to bring to ensure compatibility with our setup and to avoid any technical issues during recording.
The rental duration for a podcast recording studio typically depends on the studio’s availability and your specific needs. TYX studios offer hourly rates, as well as daily or weekly packages. It is advisable to discuss your requirements with the studio in advance to determine the most suitable booking option for your podcasting project.
TYX Studios team to complete.