Podcasting, or delivering radio digitally via the internet, was created in 2004 by an MTV video jockey and a software developer who wanted to write a program that allowed people to automatically download internet radio broadcasts to their iPods. After podcasts’ inception, the new deliverable took off; and today internet radio can be streamed from most anywhere.
Like anything else in the age of the internet, people took notice and started creating their own podcasts to stream with friends and audience members. While starting a podcast is relatively easy and inexpensive, growing it is another story. A successful podcast often calls for expensive overhead fees and daily time and effort spent on writing, producing and promoting your show. If you created something you know could become a hit with the right support, then monetizing your podcast is something to explore.
Here are a few strategies to consider.
One of the most common ways to monetize on your content is by partnering with a sponsor. This way, you don’t have to do any of the legwork, rather, the sponsor will place their ads on your podcast page. The more followers who listen to your show, the more money sponsors are willing to pay.
Syndicate to YouTube
Another way to make money off of your podcast is by publishing it as a YouTube video and then choose “enable monetization” in your account settings. How much money you can make from YouTube depends on a few factors such as how long people watch, whether they click on your ads and whether they hit ‘like.’
Sign up for ConnectPal
ConnectPal is for any person, group, or business that has an audience or wants to grow an audience. Here, you can set a monthly price for people to access your profile content and podcasts. Tell your friends and followers about where to find your podcast by copying and pasting your ConnectPal profile link on your social media accounts (i.e. Facebook, Twitter, Instagram). When your potential subscribers click on the ConnectPal link, they will automatically be routed to your welcome page where they can subscribe to you and your content.
Depending on the content of your podcast, i.e. sport show, entertainment, beauty, etc., you could always opt to monetize on your content by selling physical products. Think coffee mugs and t-shirts with your logo or some other fun tchotchke.
Similar to any business venture, you need capital to get started. If you already have an established fanbase, why not ask them to donate a few dollars to ensure they continue to get great content? You can easily do this by setting up a paypal account, so the money can be wired right to your account.
Every podcaster needs a way to support their show, but it’s important to do it in a way that still respects the loyal listeners. After all, the audience is what makes your show successful so be sure to invest in them above all else.