We all know that creators can make money from podcasting, even a lot of money. For example, Shepard Armchair Expert can earn 9 million dollars per year with almost 20 million monthly audiences.
So, how much do podcasters make? As we can see, there’s an extensive range, and your income through podcasting depends on many factors, mainly the number of your audience. Keep reading for more information!
How Much Do Podcasters Make?
Podcasters can make a lot of money this way. With each episode, they can earn from $10,000 to $500,000.
There is no specific income level that you can receive through your shows. However, we will help you understand better through the following example.
Let’s say you’re a creator and the following things happen to you every month:
- You release about four episodes monthly.
- You place three ads in each of your episodes.
- 2% of listeners support you through Patreon, which earns you five dollars per person/ 1 month.
- 05% of your listeners buy an online course per month for ninety-nine dollars.
- 1% of listeners buy something through the link you provide, which earns you fifteen dollars per order.
If you get a thousand listens per episode, you can earn $745 monthly, which includes:
- $150 in revenue from affiliate marketing
- $495 through course sales
- $100 through the Patreon platform
If you become more famous and reach 5,000 listens per episode, 4,925 dollars is the amount you get per month, including:
- $750 through affiliate marketing
- $2,475 through course sale
- $1,200 through ads
- $500 via Patreon platform
Let’s think bigger. What if you get 10,000 listens per episode? Your monthly podcasting income is 13,450 dollars, including:
- $1,500 through affiliate marketing
- $4,950 through course sale
- $6,000 through ads
- $1,000 via Patreon platform
You need to remember that the above figures are assumptions. The amount that you earn can vary little or significantly depending on your strategy and reputation. For example, you may get more money per 1000 listens, or maybe your listeners will be more generous in supporting you on Patreon.
How Do Podcasters Make Money?
There are many ways to make money from podcasts. So, let’s dive into all the ways your show can make money.
#1. Affiliate Marketing
Affiliate marketing refers to you getting money in the form of a commission every time someone purchases through the link you provide. Using this tactic works best when you’re promoting a service or product that you’re familiar with or used to.
If you make money through affiliate marketing, you need to ensure that the company provides you with a simple affiliate link. It makes it easy for you to speak and your audience to understand.
It is also possible to mention services or products related to the content or topic of your podcast. ShareASale and Amazon are famous platforms for providing affiliate marketing services.
#2. Cooperation With Advertisers and Sponsors
Partnering with sponsors is one of the most popular ways to make money from podcasts. In most cases, creators will mention their sponsors or products several times in an episode.
The amount you earn depends mainly on the number of downloads per episode. After that, advertisers will pay you based on CPM (cost per mille).
The CPM you can get ranges from $18 to $50. However, popular podcasters can earn even more than that. Ad prices will often vary depending on where they are placed in your show.
Pre-roll and post-roll ads typically last between 15 and 30 seconds. So in most cases, they are of equal value to advertisers. But mid-roll ads are more valuable because it’s hard for your listeners to ignore them.
Most advertisers will give you a script for you to read. However, in some cases, they will give you more flexibility.
#3. Events
Once you gain a large loyal audience, you can make money by organizing events.
For example, Walker Stalker started as a fan show of The Walking Dead TV show. Thanks to that, it was very developed. Nowadays, they host conferences and even involve actors from the series in their events worldwide.
#4. Public Speaking
If your fans plan an event, they can invite you to their event as a guest. But of course, they need to make sure you match the content of their event.
They will pay you depending on their budget, your experience, and your influence. But rest assured that you will usually get what you deserve.
Participating in events like this is also an excellent opportunity to improve your influence. You can reach new audiences who may become your loyal audience in the future.
#5. Selling Your Things
Your Services & Products
You can offer your services through your show. However, it is best to ensure your product or service is relevant to the podcast’s content.
For example, if your shows are for dog lovers, you can promote dog food that you provide.
You can do the same for other industries if you are an expert in your chosen field.
Courses
Another possible solution to make money through podcasting is to sell online courses. But, again, your course must be related to the topic of your show.
Example: If your podcast is about Amazon SEO, you could offer online courses related to SEO keyword research, PPC campaigns, competitor research, and more.
Coaching and Consulting
There are many similarities between providing a service and coaching and consulting. However, your role is to support, advise or guide your audience instead of doing it for them.
As you know, any industry needs coaches and consultants. The following are popular industries that require a lot of consultants and coaches:
- Fitness
- Business
- Finance
- Health
- Diet
- Teaching
- Marketing
- And more
Premium Content
Offering premium content is also a good idea to make money. It is available based on different membership levels. It can be anything you can think of, such as:
- Bonus interviews
- Bonus episodes
- Sneak peeks
- Hosts Q&A
- Guests Q&A
- Ad-free content
- Early access content
- The content of behind the scenes
Let your audience know about these things via your website.
Physical Products
They can be stickers, mugs, t-shirts, hats, and others. It is possible to open an online store to sell those items.
Then, offer premium members some perks. For instance, offer them early access to these products before making them widely available to the public.
Honestly, your loyal audience will want to buy your merchandise at all costs!
Books
You can also get additional revenue by promoting your books through your program. It also allows your audience to understand you differently.
Promote your book on someone else’s show? Why not? (Of course, you have to ask for their permission first).
However, you should remember that producing a quality book is a challenge. It is hard for you to get rich quickly by selling books. However, it is an excellent opportunity for you to increase your influence.
Frequently Asked Questions
1. How Much Do Podcasters Make on Spotify?
There is no answer to this question. The amount you get depends on many factors, such as your popularity, the number of audiences, the number of downloads per episode, and more.
2. How Much Do Podcasters Make From Ads?
It depends on the number of downloads per episode. Advertisers will pay you based on CPM (cost per mille). The CPM you can get ranges from 18 dollars to 50 dollars. However, popular podcasters can earn even more than that.
3. How Much Do Podcasts Get Paid for Ads?
Advertisers typically pay creators based on CPM. The CPM you can get ranges from 18 dollars to 50 dollars. However, famous podcasters can earn even more than that.
4. Who Is the Highest-Paid Podcaster?
“The Joe Rogan Experience” takes the top spot as the most listening-to podcast of 2021 on the streaming platform. So, Rogan is the highest-earning podcaster.
5. How Much Do Famous Podcasters Make?
Here are some of the highest-earning podcasters:
- Joe Rogan Experience earns 30 million dollars annually from approximately 190 million monthly downloads. In addition, he also earns from 16,500 to 264,000 dollars monthly through YouTube.
- Karen Kilgariff and Georgia Hardstark earn 15 million dollars per year thanks to 13 million listeners per week.
- Shepard Armchair Expert receives around $9 million per year, thanks to 20 million monthly listeners.
- Bill Simmons Podcast’s annual income is 7 million dollars.
- $2 million is Chapo Trap House’s annual income.
- The Tim Dillon Show makes about $1.3 million per year.
- Both Andrew Schulz & Akaash Singh and Pat Flynn receive 1.2 million dollars per year.
- 2 million dollars is also the amount that True Crime Obsessed makes every year.
6. How Much Does Joe Rogan Make?
His show receives about 190 million downloads per month, which earns him about 30 million dollars annually.
7. How Long Does It Take for a Podcast to Be Successful?
You will start to monitor your podcast growth in the first 30 days. After that, your show growth should continue indefinitely month over month, even if it is a small amount. It is true to say that slow but steady growth is a great thing.
8. Can Anyone Start a Podcast?
In general, almost anyone can start a podcast, even without technical skills. But it is not easy to make a successful podcast.
Conclusion
While it is possible to make massive money from podcasting, it is not easy. As a result, beginner podcasters often earn very little. But if you continuously research effective monetization strategies and keep working hard, your income will improve over time.
Patience is the key. So, do not expect to receive vast amounts of money through podcasting overnight. But just focus on producing valuable content, and you’ll soon be the next high-earning podcaster.
