How to Monetize Your Podcast Making money by podcasting is possible, but only if you treat your podcast the same way you would your business. Here are some common and less common ways to monetize your podcast.
By James McKinney •
Opinions expressed by Entrepreneur contributors are their own.
You have an amazing idea for a podcast and want to determine if it can make money. You can — but only if you treat your podcast like a business.
From Day One, "The Startup Story" has generated revenue. While that is not typical for podcasts, it does not need to be such an anomaly. With brand leverage, affiliate revenue, sponsor placement and even ecommerce, your podcast can earn money.
In this video, the creator and host of "The Startup Story" shares some common and not-so-common strategies to monetize your podcast.
Common methods of monetizing podcasts
- Sponsors, either at the title or brand level or at the episode level. Connect with brands that make sense to your podcast and audience
- Ad reads, in which you read advertisements and endorse brands during episodes
- Affiliate revenue, earning a commission on sales attributed to you, typically via a web link with a unique ID code. For podcasts, the call-to-action to trigger the offer could sound like, "Visit XYZ.com and enter code "startup story' to redeem," which is likely more than a listener will remember. Instead, leverage your newsletter or social posts for affiliate links
- Speaking engagements, as your podcast establishes you as an expert in your field
Less common methods of monetizing podcasts
- Events or meetups, leveraging your podcast to drive paid attendance
- Merchandise, selling items or services your audience would find valuable
- Ecommerce, selling items or services that would resonate with your audience, but are not logo'd with your brand specifically
- Brand partnerships, providing access to paying companies who want to be associated with your podcast and audience
Related: Top 5 Podcast Strategies
