Monetizing a Podcast

“How do podcasts make money?” is a legitimate question to ask yourself as you pour time and resources into creating a show. If you want to do it seriously, finding a way earn money podcasting will help you produce it over the long term.

In this post, we’ll go over 20 different strategies to monetize a podcast to help you get started. Updated for 2020, we sourced advice from successful podcasters, industry veterans, and newbie hosts on how they monetized their podcast.

How Do Podcasts Make Money?

There are two main distinctions in how podcasts make money today. When combined together, they produce a steady revenue stream that can help you earn an income podcasting.

The strategies that are currently the most popular fall into the direct monetization category. Direct podcast monetization is when the show is the thing you’re selling. You can profit from creating original content, repurposing it, and granting exclusive access to paying members.

On the other side is indirect podcast monetization. This is when you use your podcast as a tool to sell other things. Your podcast becomes the vehicle to promote products and create demand among your listeners.

With the general definition down, now let’s dive into specific podcast monetization techniques for each category. Remember, finding a balance between many strategies is the best way to make money podcasting.

How To Monetize A Podcast Directly

Here are our favorite direct podcast monetization strategies to explore. Choose the ones that fit best for your show.

1. Ask for donations

The simplest way to monetize a podcast is to ask people for money. Plenty of fans are happy to throw a few dollars to their favorite podcasters to ensure they continue to get great content. When people ask us how to monetize a podcast, this is always the first solution we recommend because it’s easy to set up and promote.

You can add a PayPal button or open a Stripe account and add a donation form to your site. Or set up a GoFundMe campaign for a simple collection page.

To avoid feeling slimy about this kind of self-promotion, keep your calls-to-action authentic. Are you asking for donations so you can spend more time creating new episodes? Tell your audience that.

If people understand where the money is going, they’ll be more apt to donate.

2. Create paid membership tiers

The latest trend in podcasting is creating paid membership tiers. Listeners can pay to access exclusive content, private Facebook groups, or podcast swag.

The best way to get this started is to create a Patreon account. It’s well-respected and simple to use. You can use their default settings or create your own system of levels and rewards for donors.

FYP Podcast’s Patreon landing page.

If you go with Patreon, play around with the level options. You can reward fans for their contributions with swag, content, or other perks. You may find more listeners are willing to support the show because they’re receiving either a physical product or ex...