How To Make Money Podcasting (5+ Monetization Models)

Nobody wants to waste their time anymore, people have started calculating how much time they spend on social media. But still, what makes podcasts good-to go choice, in this busy chaotic world? You can listen to podcasts anywhere and anytime without needing to gaze at the screen, like while driving a car, taking a hot shower, immersed in a self-pamper bathtub, or looking at the ocean while sipping a favorite cocktail.  All you need to do is put your headphones on and get immersed in the voice that talks about what you have been longing to hear. 

Listening to podcasts can be a hobby, but making a podcast for money is the new normal in today’s go-viral marketing trend. This blog explores the various methods by which one can make money from podcasting. Dive in and grasp the details to monetize your podcasts proficiently. 

What is a Podcast?

A podcast is an audio file, mostly delivered as episodes, that is available on the internet for the listeners to download or stream via a listening app. An audio podcast generally doesn’t cover the voice of hosts alone, it includes a mild music track or beats to support the audio and make it more interesting and enchanting to listen to. Don’t confuse podcasts with radio,  unlike radio, it is pre-recorded and offers a wide range of streaming formats. 

How Do Podcasts Make Money? 

Starting something can be easy. With the line of great tips and expert guidance, you can ace your creative journey. But how to kick start it? Here is what we want you to stop and scroll through! Let’s begin &  monetize podcasts!

The first and foremost thing to understand is the various monetizing models of podcasts. The models differ based on the level of experience of the podcaster. You may need help finding the method that works best for an experienced podcaster not feasible for you! But no worries, there is always one way or the other to settle. 

Grow your audience to attract advertisers

The brands and companies would not hesitate to pay a premium if they have well-established listeners. With time you can organically bring in more listeners and help brands grow along with you. 

Promote advertisements and sponsorships 

Have you heard the tagline, “ brought to you by“?  You might heard it often in podcasts. That’s how the sponsorships work. Connect with podcasting ad agencies and they will help you fetch advertisers. 

These are major ways through which you can make money with podcasts, BUT WAIT, we still have a lot more to show you in detail.

What are the Best Business Models for Podcasts?

Before you start thinking about making money, you need to explore various viable business models for podcasting. Let’s take a look at the four major models to help you shape your podcasting journey. 

💰 Ad-Supported (Advertisement) 

By hosting an Ad-supported podcast you are likely to get into the safest way to increase your revenue stream. It has been considered the best practice for decades, as listeners feel that the ads that are rolled in between or during the podcast are income-generating steam and they choose to stay engaged for their favorite podcater. Try bringing in more ads to engage the audience and get mutual benefits. Don’t forget that an ad-supported model always dominates various markets irrespective of geographical location. 

💰 Live Shows

Consider selling tickets for live shows to engage your audience more effectively and earn revenue through a commission-based system. Highlighting live shows can serve as a key component of your content strategy; therefore, focus on leveraging this model.

💰 Direct Sales

In this model, listeners have the option to either pay a one-time fee to download audio content as files or subscribe monthly to access the podcast library and listen to episodes and series continuously. Instead of solely relying on live streaming via the podcast channel, listeners can conveniently listen to downloaded files at any time. This approach has proven to be one of the most successful methods for monetizing podcasts

💰 Listener-Supported

This model offers a less common approach. You can personally engage with listeners by giving them the option to either pay for additional content or enjoy the free offerings. Those interested in accessing more podcasts can choose to pay, while others can continue to listen for free. This approach allows you to provide exclusive content for those who support your growth without obligating all listeners to pay.

Now that you have learned about various business models to grow your business, Let’s talk about how you can successfully opt for the best business model that suits you. 

11 Best Ways to Make Money Podcasting In 2024

It is important to note that, once the monetization methods are determined, there is more to making it a reality. Let’s skim through the list of best practices to make money smoothly and efficiently. Scroll down to make it a permanent source of income, the ball is in your court now!

1. Paid subscriptions and exclusive content

Creating paid subscriptions or price-tagging exclusive content is the best way to generate revenue. Make your listeners feel special by giving exclusive and intimate content and get paid for such content exclusively. 

2. Online courses

You can teach online courses through podcasting and monetize your teaching skills. Whether it’s an English-speaking course, fitness class, yoga session, or soft skills training, podcast-based learning can be both engaging and effective. Listeners can sharpen their concentration while enjoying the flexibility to complete courses on time without the delays often encountered in video-based e-learning. This approach represents one of the best monetizing solutions for coaches.

3. Crowdfunding and donations

The easiest way to make money is to ask your fans for donations, of course, who wouldn’t want to pay their favorite podcasters as a token of love? While going for crowdfunding or donations, make sure that you have a good and thoughtful call to action so that you don’t feel amiss about it. Also, guarantee your listeners, that the money received will be used for a good cause or to make more episodes that would kindle their interest more.

4. Merchandise

Who can’t say no to branded merch? it is the best way to branch out an extra income stream. Once you have established your brand and have acclaimed recognition from your listeners, you can take this step towards selling goodies online. Make sure you connect your logo, brand voice, and the podcast story to the goodies like t-shirts, mugs caps, etc, and reach out to more audiences via your fans.  

4. Sponsorships

Once you are confident about your show, and you have a larger number of listeners drawn to your channel, you can opt for this sponsorship. Who says no to sponsoring a well-established, crowded podcast channel?  You can charge your sponsors based on where they would like to place their ads like pre-roll, mid-roll, or post-roll. The sponsors would mostly prefer the mid-roll, as the pre- or post-rolls are likely to be skipped. Don’t miss the chance to make a good amount of money with great sponsorships. 

5. Affiliate programs

Selling affiliate products to your listeners is one of the good ways of making money, but not so reliable, still you can consider it as a steady source of income if you ace the affiliate strategy. Reach out to brands that your audience mostly prefers like Amazon associates, Shopify, Rakuten, Giddyup and Skillshare, so on. Coordinate with these groups and aim for bigger goals. 

6. Guest appearances

This is one of the action-packed ideas to coordinate with your fellow creators or the ones you admire and want to share their knowledge in your channel. Give your listeners an audio treat by creating a suspense element and inviting a popular personality to your show, you can bring in more listeners and expand your income stream to earn more. It’s worth a try, isn’t it? Who wouldn’t want to meet up with an interesting personality and listen to them personally? think about this and act on it stupendously.

 It’s essential to acknowledge that while monetization opportunities exist, they often require dedication, hard work, and the cultivation of a loyal audience. Know that, success in podcasting can vary depending on factors such as niche, content quality, marketing efforts, and audience engagement. 

7. Podcast advertising networks 

It takes a lot of courage to make a big move from being independent podcasters to joining hands with podcast networks. Podcast advertising platforms like Buzz Sprout Ads, Adlarge, WebFX, and  Apple podcasts broaden your scope and bring in more listeners to your channel through their marketing strategy. 

The H3 podcast hosted by Ethan Klien, has over 2.90 million listeners, and it is considered the most-listened-to podcast in the USA. They collaborated with the Rooster Teeth podcast network channel and have earned a higher rate of listeners since 2017. You too can make history with your unique content, use the right platform, and expand your listener territory. 

8. Digital products

Podcast listeners are often doing something else while they listen to podcasts, like driving a car, jogging, or taking their pet for a walk, so try to engage them with an email that you send after a show or at the end of an episode and link the product link attached to your email. In this way, you can retarget them to your product ad. You can sell your digital products like ebooks, podcast library to gift someone, etc, and can make money through this way. 

9. Book sale

Are you a writer? Consider leveraging your ability to convey ideas and thoughts, just as you do with your podcasts, to sell your books and expand your business. Just give it a try,  even starting with just a few pages can be a step toward success. With persistence, your journey can lead to success eventually. 

10. Sell consulting or coaching services

Benefit your listeners by encouraging them to get better!,  Multiply your revenue by giving your advice, opinion, or suggestions to your viewers, you can engage with them by asking them to write to you, and you can give them the best piece of advice and help them progress in their life. If you find yourself doing well, you can start exclusive episodes by selling your consultations, Isn’t it great to help people get better? you have that opportunity, use it the right way! 

11. Live shows and events

Hosting an event can be a demanding process. However, you can turn it into an opportunity to support event organizers by fostering a strong community around the event. Consider conducting live interviews with celebrities or hosts, and engaging in Q&A sessions to enhance audience interaction. Moreover, you can use events as a means to monetize through ticket sales.

Aren’t these twelve ways simply mind-blowing? By now you must have a handful of ideas, just analyze the best way possible and start working on it. 

Now that you know the ways to make money, choose the right platform to deliver your podcast and boost your audience. Some established hosting platforms would drive your podcasting goals by empowering your voices to reach more audiences with the content you make. No more studio recording and rigorous marketing planning, just upload your podcast to the podcast hosting platforms and stand unique in letting your audience get the best experience.

1. GUDSHO

Gudsho is a leading video platform that helps creators host, upload, manage, market, and monetize their premium content. While you drop every bit of your sweat to make an enticing podcast, why let it be aired for free? Why not just own your channel and monetize your podcasts while the platform does the rest for you?, Here is what you need to know about GUDSHO before you choose it

• Own your podcast channel and stream it live or upload recorded sessions. 
• Connect with your audience in real-time with 4k Live streaming & easily convert it into VOD to create a long-lasting impression. 
• Utilize the 5 + monetization models and make a profit from subscriptions (SVOD), Pay-Per-View (TVOD), Ads (AVOD), Donations, Rentals, and more.
• Protect your content from cyber threats with single sign-on, HLS distribution, screenshot prevention, AWS Cloud storage, and AES-128 encryption.
• 100 + features to own and stream your podcasts successfully on a platform and affordable pricing plans starting at $120/month. 

Why still wait? Just sign up and start exploring it today with the 14-day free trial now and see the wonders you can do in minutes! 

2. Spotify for Podcasters

Spotify is a powerful tool for podcasters that helps creators create and host their shows and also with varied options to grow your podcasts. It is an all-in-one free platform that supports recording, editing, analytics, fan engagement, and monetization tools then Spotify is the best option.  

• The ultimate solution to host, create, upload, edit, and distribute podcasts both audio and video like a pro for free of cost.
• The on-the-go recording feature allows podcasters to capture audio directly from their phone, tablet, or computer, with synchronization across all devices, accompanied by an audio enhancement feature for natural and convenient recording anytime, anywhere.
• Showcase your podcast story and connect with your fans more deeply 
• Combine your talk content with the Spotify music catalog and get heard then and there without needing to switch tabs. 
• Exclusive monetization tools with growth plans to earn with ads or through the direct support of your most engaged fans. ( this option is available only for shows hosted with Spotify for Podcasters, in select markets)

Isn’t it interesting to be a part of Spotify and entice listeners into your podcasts, create more for them, and give them more than they need with spotify? Sign up today if you just want to start your monetizing journey. 

3. PodBean

If you are looking for everything you need to make your podcast successful in a single platform, then go ahead with PodBean. From newbie to professional, hosting podcasts on PodBean has never been easier and smarter. 

• Create and publish your podcast by recording it anytime from your phone, and also live stream your podcast anytime. 
• Promote your podcast with connected social accounts and distribute seamlessly to the most popular listening apps like Apple Podcasts and Spotify. 
• Ample monetization tools, like Ads Marketplace, dynamic ad insertion technology, Apple Podcasts Subscriptions Integration, and patron programs to grow revenue. 
• Easy option to join Ads Marketplace to create a patron program, and leverage Apple Podcasts Subscriptions for your exclusive content.
• Free podcast website creation option with  next-generation design and features to customize the perfect website to showcase your podcasts 
• IAB-certified podcast analytics to measure your success, and get insights into your podcast performance and audience ratings. 

Haven’t you already heard enough to pick one, if not no worries, we still have two more on the list. Just scroll down to read, before you make an impending decision. 

4. Buzzsprout

If you are looking for podcast hosting platform that supports easy hosting and streaming with free learning materials, and remarkable customer support then just for Buzzsprout without any second thoughts. 

• Provides free podcasting guides, video tutorials, podcasting courses, and industry podcasts, and gives access to the Buzzsprout Podcast Community to envision your podcasting dream. 
• Access to top podcast directories like Apple Podcasts, Spotify, Google Podcasts, Stitcher, iHeartRadio, TuneIn, Alexa, Overcast, PocketCasts, Castro, Castbox, and Podchaser.
• Review podcast statistics to get insights on metrics like listener ratings,  total downloads over time, what apps your listeners are using to listen to your podcasts, etc. 
• Optimize your episodes automatically and add and remove pre-roll and post-roll segments to and from your podcast episodes.
• Transcribe podcasts for more SEO optimization, and monetize from running ads and buzzSprout subscriptions. 

With BuzzSprout you can enjoy a 90-day free trial and encourage your listeners to be either supporters or subscribers! Isn’t it awesome? Why miss the best ways to make money as a podcaster, when you have plenty in hands?

5. Blubrry

Blubrry is a straightforward podcast publishing platform that provides live customer support and insightful analytics. The platform also helps you simplify and advance your podcast production process with the power of AI. If you are seeking a tool to accelerate your production process with AI, then Blubrry is the right one for you!. 

• Power up your podcasts with a WordPress plugin, a free website, and tools for networking. 
• Safe and secure private podcast streaming.
• Make use of podcast statistics that are IAB V2.1 certified compliant and get to know your listener ratings listener trends, audience retention, geo-locations, and more.
• Independent audience survey to decide your podcast content strategy. 
• Fasten your podcast production process with  the Power of AI with Blubrry PAI

Final thoughts

We believe that you are now on your mark and set to go with the choice that you have made by now. We hope that you make the right decision to successfully make money at the same time seamlessly facilitate your podcasting delivery!