In this ever-advancing and growing world, competition is getting tougher and tighter, and since “Necessity is the mother of Invention,” innovative methods of income are being designed by minds individually and collectively. A recent and still a new form of such an earning is through Podcasts.
There are various methods that ensure that the podcasts survive the competition are as follows sponsorships/ads, donations/crowdfunding, affiliate marketing, subscriptions, branded merchandise and even live podcasts events.
Podcasts are such audio (or video) recordings that are made available through Subscriptions, and once you become a subscriber, all of the episodes or an entire Podcast is downloaded onto your computer/mobile phone. While this is great for listeners how do podcasters make sure they can keep their podcasts going and afford all the gear they need?
Comedy Podcasts are for the fun-seeking people, and they usually become very famous because of the general favor for light stuff in the everyday chaos. These are some brilliant and exciting comedy podcasts that have soured up high in recent years with a massive number of downloads;
Sponsorships/Ads
Podcasters can earn money by the sponsorship of other brands; in essence, the companies pay them for being introduced or updated to the podcasters’ listeners. But, it takes some time for any company to take up any podcasting channel. That is why this method of earning comes handy, on the condition that one has been into the business long and good enough, for it to become popular among listeners.
There are three types of advertising within a podcast. Pre-Roll which is at the opening of a podcast usually before the teme music or intro. Mid-Roll, which is an advertisement midway between the two ends of the podcast, in which a brand pays a hefty sum to the content providers, because, their material is in the most engaging portion of the podcast. The last spot is Post-Roll which is after the credits and outro so this ad does not pull in much in terms of money because most people stop listening after the show.
Established podcasters might solicit anywhere between twenty-five to forty dollars for every 1,000 viewers and where the ad placement is done on the podcast. A brand shall be benefitted by the number of people who consume the podcast and thus their products. And this is the case here as well, the listeners and the audience provides for the funds and monetary gains for the podcasters by downloading their audios/videos. The better the material is of a show, the more will it be downloaded and subscribed.
Hence, people who have expertise in comedy can often sell products without any bad feelings on anybody’s part or without the expense of anybody’s comfort, so all parties benefit because the listener is entertained, the podcasters make money t cover the show and the brands get awareness they might not have otherwise received. This also works well if you decide to also post your podcast on YouTube.
Donations/Crowdfundings
Another way that a podcaster can grow the financial side of their business is by encouraging their audience to contribute to the expenses of their episodes. The expenses of a set or office, Mics, Setup boxes, Websites that run podcasts, Brand Merchandise, Promotions, Commercials, and even the gifts that are sometimes introduced during seasonal or occasional events are all easily offset through the funds generated through the help of fans. It ensures the continuity and advancement of the show; hence people are not reluctant when giving in a helping hand as it encourages support of the podcast and the continued entertainment it supplies.
Affiliate Marketing
Besides using the advertisements, many podcasters utilize the opportunity of different affiliation platforms, such as the Amazon Affiliate Program or other such programs. They provide them a percentage share in the money that they gain because of the customers, that followed the links through podcasters’ channels and ended up purchasing the product fro the affiliate.
How these sponsors bring in money to the podcasters, is, by providing them with individual and exclusive links, that has to be shared with the public. When these customers make purchases through these links, the podcaster receives a dedicated share of money in their account. These links are also customer friendly because they are offers and discounts that are great if availed. All in all, this method is very efficient in generating income.
It is similar to how I put links in blog post like this one about the best books for comedians.
Subscriptions
For those customers, who pay in extra, some podcasters have versions available that are ad-free or have some other tidbit or bonus that is missing in the free version. This is an effective method of getting paid. This is done by many applications today, which proves how beneficial such a minor comfort of users is for those seeking provision.
People do not mind giving out an extra handful of coins for lesser mid breaks due to intruding ads or for a tab bit more stuff than what generally is present. Thus, this brings in good income for the producers of many podcasts and also allows membership fans the ability to feel like they are part of an exclusive club.
Brand Merchandise
Podcasts and their creators put an impression upon the audience. When they get the options through which they may be reminded of their favorite brands, they will not hesitate to own such merchandise. So many podcasters produce everyday things like Cups, T-Shirts, Hats, Bags, or even Stickers, with their brand logo, slogans, famous quotations, and/or picture art for the sole purpose of selling them to the fans.
The ability to get your fans to engage and buy your products not only helps the podcast make money but helps you build a loyal fanbase who act as marketing for your podcast. Merch is a great win-win for podcasters and fans.
Live Podcast Events
When the podcasts get famous and increasingly fabulous, people become willing and wishful of a glimpse into the behind-the-scenes/voices. This has allowed the podcasters to conduct live events where their fans may be able to view them in real. Hence, the sale of tickets for these shows and concerts produce an income that can be huge for the podcast.
This is one of the best ways of creating money because a massive crowd of people willingly and more than excitedly show up and interact with their favorite podcast hosts as well as possibly drop money on merchandise. The live events also allow podcasters to partner with other brands to support the event thus making the podcasting event earn money from marketing, ticket sales, and merchandise in one fell swoop.
A podcast is a great way to build a fanbase but it is also another income steam many comedians can use to make money. With comedy podcasts leading the charts of may podcast networks the possibilities to monetize your podcast are almost endless.
