2. Accept listener donations
Creating a show takes more than investing time: podcasters must cover equipment and software costs, hosting, domain fees, and other costs.
By accepting donations from listeners, you can reduce or even eliminate the need for outside funding or sponsorships to cover all your podcasting costs.
Alternatively, it can supplement other monetization options like selling podcast merchandise.
Donations might be one of the most straightforward podcast monetization strategies. Plus, it’s a viable option regardless of how big your listenership is.
You’d be surprised how many fans are happy to donate a few dollars to support a podcast and continue to get the content they love and benefit from.
While this type of self-promotion is not for everyone, it’s a great way to connect with your audience. Keep your calls to action authentic and honest: give your audience the why. Are you asking for donations so you can focus on creating new content? Do you want to keep the podcast ad-free? Tell them that.
Dedicated listeners can support your podcast by donating through platforms like Buy Me a Coffee, PayPal, or GoFundMe.
Once you have an account, add the link to your description and ask listeners to chip in what they can.
Podcasts can make money through sponsorships, where brands pay to advertise their products or services on your show. The advertiser, not the podcast host, usually reads and produces the advertisements.
Anyone who listens to podcasts will be familiar with the classic tagline “brought to you by x, y, and z.”
Podcast sponsorship pays according to how many people listen to your show. As the number of listeners increases, so will your revenue.
Source: Smart Passive Income
By partnering with brands that align with your audience and content, your show can offer your listeners valuable products and services while earning money.
Here are a few places to find sponsorship deals:
Smaller podcasts within specific niches can also reach out to companies that target their audience to find great partnership opportunities.
Multiple sponsorship deals with affiliate links for 2x eCommerce Podcast. Source: Spotify
4. Offer ad spaces
This monetization option is similar to finding sponsorships. Sometimes people use advertising and sponsorships interchangeably.
Here’s the difference: an ad mentions a product, a service, or a brand directly and usually involves a payment for each played ad. Sponsored content won’t necessarily mention the product or brand directly—instead, the host will mention which brand has sponsored that specific episode. Plus, sponsorship typically means a deeper, often ongoing relationship.
Why podcast ads are so effective. Source: Riverside
You can join an advertising network or partner with podcasting ad agencies like Adopter Media. They help podcasters connect with advertisers, taking care of all the logistics and administration for a fee.
These services put ads in your show and pay per 1K ad impressions (cost-per-thousand). Additionally, they take a cut from your earnings, so ensure you read the platform’s fine print to see how much they take.
Generally, you can charge for “pre-roll” and “mid-roll” mentions. Mid-roll (during your episode) pays more because listeners will most likely pay more attention during the podcast than at the episode’s beginning or end.
Affiliate partnerships involve selling products or services through your unique link. When podcast listeners click on this affiliate link and buy the product or service, you earn a commission from the sale.
As with sponsorships and ads, it’s best to only work with companies that align with your audience’s values and needs.
How much money you’ll earn from affiliate marketing typically depends on the size of your podcast audience.
Usually, you don’t have to arrange a deal or get approved. Sign up, add your payment details, and get paid whenever someone signs up with your affiliate link.
Express VPN’s commission structure. Source: Authority Hacker
For example, Audible’s partner program is common among podcasters. They give you a free link to promote. Audible will pay $15 for each person who signs up for a free trial using your link. They’ll track how many people use your link, and you’ll get paid each month you hit the $30 payment threshold.
Another popular platform to promote is Skillshare: an online learning community with thousands of classes in illustration, design, photography, and more. Skillshare’s affiliate program is free for anybody with at least one channel and audience aligned with Skillshare’s brand.
Last but not least, you can join Printful’s Affiliate Program and earn a 10% commission from every order placed through your link. It’s free to join, and you’ll get marketing materials, resources, and affiliate marketing tips. Plus, you’ll have access to tracking and reporting tools on your personal dashboard to monitor your efforts in real time.
