How to Monetize Your Podcast
Monetizing your podcast is absolutely possible! Podcast ads aren't just a way to make money—they're actually appreciated by many listeners, especially when the ads feel personal and relevant. Edison Research tells us that podcast fans are 54% more likely to think about buying a product they heard about on one of their favorite shows. Here’s how you can make money from your podcast.
Did you know that over 42% of Americans listen to podcasts monthly? And that number is expected to rise by at least 5% by 2025! With so many people tuning in, and the audience only getting bigger, there's a fantastic opportunity for you to monetize your podcast. What's even cooler is that the money in podcast ads is booming, with revenues expected to exceed $4 billion by 2025. Most listeners are pretty open to ads, especially when they come from a voice they trust and provide genuine recommendations.
If you want to learn more about how to grow and monetize your podcast, download my free guide!
Understanding Podcast Advertising
Podcast ads aren't just a way to make money—they're actually appreciated by many listeners, especially when the ads feel personal and relevant. Edison Research tells us that podcast fans are 54% more likely to think about buying a product they heard about on one of their favorite shows. Here’s how you can get into the game:
1. Host-Read Ads: You read the ads yourself, which makes them feel more personal and can really connect with your audience.
2. Dynamic Ads: This tech-savvy option uses ad-serving technology to slot in pre-recorded ads into your episodes. It's great because you can switch ads in and out easily, perfect for promotions or special deals.
3. CPA (Cost Per Acquisition): This is where you earn based on how many listeners actually buy a product or sign up for a service through your podcast. It's super for smaller podcasts because you don't pay anything upfront.
Pricing Strategies
When it comes to how much you can make, it usually depends on how many people are listening. The common way to price ads is by CPM, which stands for cost per mille, meaning the cost for every 1,000 listens. Bigger shows usually do well with this. For example, AdvertiseCast says you can expect about:
$18 for every 1,000 listens for a quick 15-second ad at the beginning of the episode.
$25 for every 1,000 listens for a longer 60-second ad somewhere in the middle.
Selling Ad Space
Ready to start making money? Here’s how to get those ads on your show:
Look at brands you already love and use; reach out to them directly.
Join a network or hook up with a podcast ad agency that can help connect you with advertisers.
Check out tools like Podcorn, which help link you up with brands that fit your podcast's vibe, taking a lot of the legwork out of finding sponsors.
Building Your Foundation
First things first, you need to focus on building a solid, engaged audience and keep your podcast episodes coming regularly. You’ll generally need about 5,000-10,000 downloads per episode before you can start thinking about sponsorships.
Maintaining Relationships
Once you start working with sponsors, the key to keeping them around is showing them that your audience is sticking around, too:
Show off how consistent and engaged your audience is.
Talk about the value of sticking with it for the long haul so your listeners really get to know and trust the sponsor's products or services.
Always shout out your sponsors on social media and in your newsletter to give your listeners every chance to engage with the sponsor.
Podcasting is more than just a fun hobby—it can be a great way to make some serious cash. By understanding how ads work, what kinds of ads you can sell, and how to price and sell them, you're well on your way to turning your podcast into a profitable venture. Remember, it's all about creating and keeping strong partnerships that benefit you, your audience and your sponsors. Here's to making your podcast a success in every way!
If you need support growing your show or connecting with podcast partners, I have great connections and experience with both! Reach out to me and let’s chat about how to make the most of your amazing show! You can also download my free podcast growth guide.