Do podcasts make money on Spotify? Yes, of course!
Running a podcast is truly a win-win for everyone involved. Specifically, listeners receive valuable information while creators receive colossal income.
Podcasters have many ways to make money on Spotify. Also, many of them can combine to give creators huge incomes.
Do Podcasts Make Money on Spotify?
Your earning opportunities on Spotify are unlimited. First, however, you have to satisfy an obvious requirement to have a large audience. If no one wants to listen to your show, it will be nearly impossible for you to monetize your podcasts.
So, assuming your shows are viral, let’s find out how you can monetize them.
Selling Your Services
It is one of the most popular ways for creators to make money.
Let’s say you run an Amazon SEO agency, and your next podcast covers Amazon SEO for local businesses. That’s when you advertise your service.
You will reach businesses that need your services. You can give helpful advice and sell services to them simultaneously through your show.
The fact is that most business owners are extremely busy and don’t have enough time to run Amazon SEO-related campaigns on their own. That’s why they may contact you to take advantage of the service you provide.
You need to show how your service can meet your customers’ needs. So, it is essential to be clear about the services you offer and how customers can use your services for their business. For example, the services you offer can be copywriting, SEO, web design, video production, etc.
If you can convince them, they will contact you soon. Let’s say the average client is worth 1,000 dollars per month, and you are running a podcast that gets 1000 listeners per episode.
If the conversion rate is 0.1%, you can instantly earn an additional 1,000 dollars per month for each episode that you publish.
The numbers in the above example may not be completely true to reality. However, you can make a lot of money from this type of business.
Work With Advertisers and Sponsor
Sponsorships and advertising may be one of the first things you think of when looking for ways to make money from podcasting.
There is no denying that it is also another popular method to monetize your podcast. You run a podcast that discusses dogs. You provide tips and tips on how to take care of your dog, train your dog, and anything about dogs.
Through your programs, you attract about 40,000 dog lovers. Imagine how much money you could make if you just mentioned a company that sold dog food and made it possible for your listeners to contact this company?
Podcasters will get around $20 per 1000 listeners. So, if you mention this company about fifteen seconds before the start of your show, you will get $800.
Typically, podcasters will get around $20 per 1000 listeners. Hence, if you mention this company about fifteen seconds before the start of your show, you will get 800 dollars per episode.
It would help if you remembered that the amount you receive would vary from business to business. Anyway, it is a straightforward way to make a lot of money.
Sell Physical Products
Besides selling your services, you can make money from selling physical products, such as books, supplements, decorations, or anything else. The fact is that a lot of podcasters are using this technique.
For example, you decide to sell a book through your show. It is possible to use your podcast listeners to get the original sales and reviews to help your book stand out more.
You can earn extra income and build your brand awareness by selling physical products through podcasts. It is handy for those who deal in branded goods.
Let’s say a specific listener buys your book and likes it so much that they buy a book from you. So people can comment on your book whenever this person reads the book in public. It is a dream for every brand – free marketing!
Affiliate Marketing
Simply put, affiliate marketing refers to when you refer people to other businesses. Then, you will earn a commission when someone makes a purchase. One of the best examples of affiliate marketing is Amazon affiliate marketing.
This business model works best when you promote services and products you are already familiar with. Thanks to that, you can advertise them correctly.
Let’s go back to the example of selling your services or goods through your show. It is an effective monetization solution. What if you have nothing to sell?
Then, affiliate marketing is the solution you need. You will not market your products or services. Instead, you sell other people’s services and products and get a percentage of the sales every time someone purchases through you.
Host An Event
If you have a lot of local fans or audiences who don’t mind traveling far to see you, you can sell tickets to a live event where you can interact with your fans in person.
The type of your event should depend on your podcast audience and topic. For example, you can organize a workshop, give a presentation, or teach a skill. Holding a group discussion is also a good idea.
Honestly, this is a challenging way to make money. So, we recommend this solution when you already have many loyal followers.
Crowdfunding
If you have a large following of extremely enthusiastic listeners, it is possible to raise funds by providing exclusive experiences, exclusive content, or anything else you can think of.
An excellent example of this form of monetization is the Tiny Meat Gang. YouTubers Noel Miller and Cody Ko host this podcast.
They are funny hosts, and they usually talk about whatever they want. These funny hosts hang out and record it. You will be surprised what they get through their shows.
The fact is that they have about 17 000 people who support TMG on Patreon. So, they get a total of about 80 000 dollars per month. So, even though they have to pay a few fees related to Patreon, it is still a sizable amount of revenue.
Check out this video to better understand Patreon:
By releasing about one episode per week, these podcasters earn more than 80 000 dollars per month from crowdfunding. Besides, they also apply other strategies such as partnering with sponsors, selling goods, and more.
But remember that Noel and Cody are both famous YouTubers. That is why they create such an allure.
Does Spotify Pay You?
In general, Spotify does not pay podcasters to create podcast episodes on Spotify. However, there are still some exceptions.
For instance, they paid Joe Rogan over $100 million for podcasting exclusively on Spotify. So, of course, he gains millions of monthly listeners.
So, instead of making money directly from Spotify, you can make money through the solutions we mentioned above.
Frequently Asked Questions
1. How Much Do Podcasters Make on Spotify
The potential earnings range from 0.006 dollars to 0.0084 dollars per stream. With around 217 million users in 2019, Spotify is the best chance to reach an audience and make money.
2. Should I Start a Podcast to Make Money?
No. Although it is possible to make a lot of money through podcasting, we do not recommend starting a podcast to make money.
The foundation of making money through podcasting is having a lot of loyal audiences. Thus, if your goal is only to make money, you’ll have a lack of enthusiasm. As a result, you will not have large listeners every week.
So, it would be best if you started a podcast to share your unique voice with the world, not for the sake of making a lot of money overnight.
3. When Should I Start Thinking About Monetizing My Podcast?
You can think about making money from podcasts even before publishing your first episode. However, we recommend publishing ten to twelve episodes before to build an audience.
4. How to Subscribe to Podcasts On Spotify
It is true to say that Spotify is one of the fastest-growing podcasters available. This app is the perfect choice for both music and podcasting lovers.
But this app is not dedicated to podcasts. So it lacks some powerful podcast features. Anyway, it is still the perfect place to enjoy podcasts.
If you want to subscribe to your favorite show on this app, follow these steps:
Step 1: Open Spotify and tap the ‘search’ field
Step 2: Type your favorite podcast’s name in the search bar.
Step 3: Click the “See all podcasts” link. It allows you to watch full podcasts instead of single episodes.
Step 4: Select the show you want to subscribe to.
Step 5: Press on the ‘follow’ link on the top left, right below your show.
Step 6: You have subscribed to your favorite show.
Step 7: For the last check, you need to tap “Your Library,” choose “Podcasts,” and press “Shows.” Then, choose a podcast to play.
5. Can you listen to podcasts for free?
Popular podcasters include Spotify, SoundCloud, Pocket Casts, and Stitcher. Many of these apps work on both Apple and Android devices; most are free.
6. What is the best free podcast app?
Here are the best options:
- Apple Podcasts
- Audible
- Spotify
- Google Podcasts
- Stitcher
- TuneIn Radio
In A Nutshell
There are many methods to monetize podcasts on Spotify. But whichever way you choose, you need to remember never to let your listeners down whichever way you choose. They are the core factor affecting your podcasting income.
Thank you for reading! Hopefully, you will be successful in podcasting.
