Podcasting is a perfect way to reach a great audience to make money. We’ve all heard rumors about the possible earnings of successful full-time podcasters.
So, you can wonder: “How many listeners does a successful podcast have?”
The key to making money from podcasting is to have many listeners. For example, you can make money with advertisements during the show.
Yet, it only works well when you have from 3000 to 5000 listeners per episode.
Of course, if you have few listeners or downloads, you are far from growing to the point of making a significant income. So, Do not expect to get into podcasting and make lots of money in just one day!
How Many Podcast Listeners to Make Money?
When listening to podcasts, you have likely heard the host say, “This episode is sponsored by.” The fact is that sponsorship and advertising is the most popular way to make money through podcasting.
The more listeners are interested in (or download) a podcast, the more money an advertiser makes. So, they tend to pay more for podcasts with large listeners.
Many advertisers are willing to pay from $20 to $100 per CPM (per 1000 downloads) to sponsor your podcasts.
So, how many listeners do you need to attract advertisers?
For example, you get paid between $18 and $35 per CPM. So if you get 50,000 downloads in the first 30 days, you will earn about $2,000.
However, according to statistics, less than 80% of podcast episodes receive less than 1,100 downloads in the first month. The big advertisers are usually not interested in your podcast if you get less than 50,000 downloads per month.
Don’t know how to start a podcast? Check out the following video below to understand better.
Top 3 Good Ideas for You to Make Money From Your Podcasts
If you want to make money quickly, podcasting is not the right solution for you. As mentioned above, the key is to have a large listener base. Unfortunately, the fact is that it can take years to build a large listener for your podcast.
However, you can get an impressive income from your podcast over time with patience. So, we will cover 10 good ideas for making money from podcasts to get you on the right track.
#1. Affiliate Sales
Making money through affiliate sales is one of the most popular ways.
In other words, it allows you to receive a commission for referring listeners to some companies to purchase their products or use their services. You will earn money for each conversion.
In each episode, you can mention products or services. Then, you will receive a commission when someone buys them through a particular URL you quote.
Social media is another excellent way to promote affiliate sales to your audience.
We recommend that you promote products or services that you have used at least once and feel satisfied with them.
Trust is essential for a podcaster. You spent a lot of time building it. So, do not sacrifice your credibility just by promoting some poor-quality product.
The commission you can earn depends on the product and service you mention. Consider partnering with the Amazon affiliate sales program as it is prevalent.
You can also invite businesses that interest you to do business with you. Then offer them to pay you a commission on every sale whenever you mention their product and service on your program.
On average, if you get around 10,000 downloads per episode, you can get anywhere between $500 and $900 per episode from affiliate sales.
#2. Sponsors & Advertising
Sponsors and advertising are also very effective ways to generate income from podcasts. Over 30% of podcasters admit that this is the number one way to make money from podcasting.
Advertisement rates can range from $20 to $100 per 1000 listeners. However, most big advertisers won’t choose podcasters that receive less than 50,000 downloads per month.
In general, there are two ways for finding sponsors:
- Sign up to podcast ad networks
They will do all the most challenging tasks for you, such as finding advertisers, or negotiating rates, and more. However, if you choose this option, you should ensure at least 5 000 or 10 000 listeners each episode.
- Reach out to the companies yourself that best suit your listeners and podcasts
This solution is perfect for podcasters who have a smaller audience. Take advantage of social media or emails to get the best results.
#3. Selling Your Things
If you do not want to advertise third-party products or services, consider offering your products or services. For example, about 48% of podcasters admit that they earn podcast revenue by trading their things.
We have listed all the most popular options:
1. Services
It is feasible to provide services related to the content on its podcast. For example, if you analyze or evaluate online advertisements, you may provide Google AdWords & Facebook Ads management services.
You can do the same for other industries, as long as you can show that you are an expert in your chosen field.
2. Courses
Another smart way to make money through your programs is to offer online courses. But, of course, your course must be related to the topic you cover.
For example, if you discuss Amazon SEO, you can offer online courses related to PPC campaigns, competitor research, build keywords, and so on.
Ideally, you have an email list to let your listeners know about your course. You can even survey your audience to learn what they want to discover.
3. Coaching & consulting
There are many things in common between Coaching & Consulting and providing a service. However, the most significant difference is that you are just supporting, guiding, or consulting your audience instead of doing it for them.
As we all know, any industry needs consultants or coaches. The following are popular industries that require a lot of coaches and consultants:
- Business
- Finance
- Fitness
- Health
- Diet
- Teaching
- Marketing
4. Crowdfunding & Donations
You can ask your audience for charity or donations to support your podcast. This solution is best suited for entertainment-related podcasts. You can use Patreon to receive donations like these.
5. Premium Content
We will continue this list with the premium content option. This option is available based on different audience membership levels. It can be anything you want, such as:
- Bonus episodes
- Bonus interviews
- Sneak peeks
- Guests Q&A
- Hosts Q&A
- The content of behind the scenes
- Early access content
- Ad-free content
Let the audience know about these things through your website. But, of course, to get the best results, you need to find unique ways to give them additional value.
6. Events
It is true to say that organizing events is smart money-making. But, furthermore, it gives your followers many valuable things.
However, due to the impact of the COVID-19 pandemic, it is not possible to organize live or in-person events. But you can do this when everything is back to normal.
You can even organize simple meetings to bring your audience closer to you. It allows you to improve the loyalty of your listeners. You can also trade at your event.
7. Physical Products
They can be t-shirts, stickers, mugs, hats, and others.
It would be interesting to open an online store to sell those products. But, then, offer premium members some perks. For example, give them early access to these products before making them widely available to the public.
Honestly, your loyal fans will want to own your merchandise at all costs!
8. Books
Promoting your book through your programs is another good way to make money. In addition, you can also improve your authority.
It is also an excellent opportunity for your audience because you allow them to get to know you differently.
Promote your publication on someone else’s podcast? Why not? (Of course, you have to ask for their permission first).
Producing a quality book is not easy. You also can’t get rich quickly by selling books. However, it is an excellent opportunity for you to increase your influence.
9. Public speaking
If someone is planning an event and is a fan of you, they may invite you to the event as a guest. But, of course, they’ll only approach you when they are sure that you are suitable for their event.
The amount you get depends on their budget, your experience, and your level of influence. But, you will receive a well-deserved remuneration. On average, remuneration ranges from a few hundred dollars to 6 figures or even more.
In addition, you can improve your influence by reaching new audiences who may become loyal fans in the future.
Frequently Asked Questions
#1. How Much Does It Cost to Run a Podcast
The answer is that “It depends.”
Here’s all that you need to start a podcast:
- A microphone
- A computer
- Headphones
- Podcast editing software
- Artwork
#2. How To Start A Podcast?
Here are the basic steps to start a podcast for beginners. Here are the basic steps to start a podcast for beginners.
- Step 1: Choose a topic and name
- Step 2: Show & episode format
- Step 3: Cover art creation
- Step 4: Set up intro & outro music
- Step 5: Equipment selection
- Step 6: Audio recording and editing
- Step 7: Submission to Apple Podcasts
#3. Why Have Podcasts Become So Popular?
They are becoming more popular because of their convenience. You can listen to audio episodes while cooking, running, cleaning, and more. So, you can absorb information while doing something else.
Conclusion
Now, by the end of the guide, we hope you have grabbed some good ideas to start making money through your podcast.
So, how many listeners do you need to make money on a podcast? Do not expect to make a ton of money from podcasts overnight.
It is essential to build unique content to capture as many listeners as possible. Then, apply the methods listed above to increase your income. You will be surprised at how much money you get for your efforts.
Thank you for reading! Good luck!