Let’s talk about podcast monetization. Podcasts have become a popular entertainment form. People can go to YouTube, Spotify, or other platforms and find a variety of podcasts they can listen to.
There are different kinds of podcasts. Some of them are educational; others are for entertainment purposes. Even if you are picky, you should still find an enjoyable podcast because some of the best content creators put a lot of effort into coming up with new ideas or finding entertaining guests.
The reason behind this hard work is the opportunity to monetize a podcast. While some podcasts are built around the idea of running the podcast itself, it is no secret that most hosts are looking for ways to make money. The question is — how? Let’s take a look at some of the most popular podcast monetization methods.
Custom merchandise is the first suggestion. As a host, you can make your own mug with the podcast’s logo and have it next to you while hosting. Provided that there is a video version of the podcast, the viewers might become interested in getting such a mug for themselves.
Besides, it is not just custom mugs that are popular. Other merch can sell just as well. For example, t-shirts, hoodies, stickers, and even face masks.
Other than creating such merchandise for monetization, you can also use it as gifts for podcast guests.
Stream on Twitch TV
Exploring different platform options could be quite beneficial. A podcast might do well on Spotify and YouTube in an audio format, but some people may find it easier to connect with the host and the content if they can see the podcast with their eyes, not just listen to it.
Take this, for example. In 2018, mobile ecommerce revenue accounted for 50% of total U.S. ecommerce revenue. Entrepreneurs realized the importance of optimizing their stores for smartphones and tablets. Some also released Android and iOS apps to reach an even wider audience.
Similar to how these influencers expanded their network to attract more customers, a podcast host should also explore available options to get more viewers or listeners. And Twitch TV is just the channel for that.
While the platform started as a hub for gamers, it has evolved since then. Now, podcasts and talk shows are some of the most popular types of channels. And since there are millions of people who visit Twitch TV every day, you will have access to potential new fans.
Besides attracting a wider audience, a channel on Twitch TV will also let you get donations and subscriptions directly, which is another way to monetize the podcast.
Ask for Donations
Speaking of donations, if you feel like there are enough loyal viewers that appreciate your content, ask for donations directly. Share your PayPal account or another method to transfer money.
As an alternative, a podcast could also have a Patreon page. Crowdfunding is quite popular these days, and it encourages content creators to rely on advertisements that disrupt the listeners since the money comes from Patreon or another crowdfunding platform.
Sell Sponsorships or Ads
You could build your podcast around sponsorships and ads as primary monetization methods.
Of course, it is important to note that if there are too many ads that disrupt the flow of the podcast, listeners will be reluctant to tune in again. If you have to give shoutouts, it is recommended to do so at the beginning of the podcast. With that out of the way early, listeners can enjoy the rest of the podcast without interruptions.
Besides sponsorships and ads, you could also sell guest places. If someone wishes to join the podcast and promote themselves, you should ask them to pay. However, do not turn an entire episode into one big promotion because listeners will bombard you with negative feedback.
Offer Premium Content
Content behind a paywall does not sound like the best approach, but it is quite popular these days. Since podcast hosts are looking for various ways to make money, it is no surprise that they do not release some episodes and put them behind a paywall.
If you decide to try this idea, make sure that your premium content is worth the money. Otherwise, it will backfire because a backlash from people who will spend money on the content will be more or less inevitable.
Host an Event
Event hosting is the final monetization method on the list. Since you have a podcast, it is likely that you also have experience and should not have problems hosting a live event.
Spend time looking at local ads and platforms like Fiverr and Upwork for potential hosting gigs and send your resume. If you have an impressive list of achievements as a podcast host, you should land a few gigs hosting various events.