It’s not doubted that Podcasting is here to stay and for long! Many people who start a podcast or want to start one, might wonder “Can I make money with this?”
We have the answer to your question, making money with Podcasting is not as mainstream as it should be, we at Listnr are continuously coming up with solutions to help Podcasters make money with their Podcast.
Here are the top 5 ways to monetize your Podcast in 2021:
1. Ask for donations
The simplest way to monetize your Podcast is to ask for donations from your listeners, the Easiest way to do this is by adding a PayPal donate button to your Podcasts website or open up a Stripe account for Monthly or one-time donations.
Anchor helps users collect donations for their Podcast directly through their website, although it's only available to US Citizens with a US bank account.
2. Gate Premium Content
An extension of the previous point, you can Gate some of your premium content for users who subscribe to your Patreon, we at Listnr are in coming up with a solution to let users accept Payments (monthly/one-time) and Gate Premium Content as well.
If you go with Patreon, play around with the level options. You can reward fans for their contributions with swag, content, or other perks. You may find more listeners are willing to support the show because they’re receiving either a physical product or exclusive episodes for their contribution.
Selling Merch is a pretty cool way to make money with your Podcast, even though its an indirect Monetisation method, Podcasters make money selling merch and gain Free publicity, so I’d say it's a win-win. Joe Rogan is a good example of how selling Merch can be an amazing stream of income for Podcasters.
And these days, you don’t need to actually handle any products in order to have your own E-commerce store.
With Teespring, you can design and showcase products that are only printed/created when someone buys. This way you don’t have to put any money down.
With Oberlo, you can create a drop-shipping store that automatically purchases products from another source when your customers make an order.
We advise that you use a print-on-demand service for merchandise at first. This way you won’t have to buy a pallet of inventory. If you buy a bunch of inventory, there’s a chance you won’t be able to sell it.
4. Get Sponsors for your Podcast
This is possibly one of the best monetization options for Podcasters with 10k+ monthly listeners. Networks like Advertisecast, Midroll, and Podcorn are some of the networks that help hosts find Sponsors for their Podcasts, these networks act as Middlemen between Hosts and Sponsors.
You’ve probably heard podcasters start their show or break in with something like “This episode is brought to you by [some company]. If you’re looking for a…” You get the idea. That’s a sponsorship.
5. Add your show to YouTube
An easy way to squeeze some cash out of what you’ve already created is to publish your podcasts to YouTube as videos.
This is a quick process. All you have to do is enable monetization in your account settings and Google will handle the ads and distributing your money.
You can use services like Wavve to turn your Podcast into a video.
How many downloads do I need to start monetizing my podcast?
There’s no hard rule here. Generally gathering 400–500 downloads per episode is a great time to starting monetizing a podcast but this is a guideline.
If you’re considering joining a podcast advertising network, they may have minimum download requirements before you can apply.
Shameless Plug - Host your Podcast for Free on Listnr!