How to Make Money Podcasting

There’s a huge global market for podcasts. By 2025, it’s estimated that more than 800 million people will be listening to podcasts. But does that mean you can make money with a podcast? It depends.

Unless you’re able to get someone with a huge built-in audience like Britney Spears or Joe Biden on your first episode, it’s going to be a while before you start making money. You also can’t rely on ads or sponsors alone and expect your new podcast to be profitable.

In order to make a profit from podcasting, you need an original concept that people will gravitate toward. In addition, you have to really commit to it and be consistent. You also have to get creative with how you monetize it. Even then, it can take years before your show generates a decent income.

It all starts with a really great idea. And if your goal is to start a podcast for free and make money from it, there are other things you’ll need to sort out before you launch it.

1. Come up with an original concept

If you want to attract a large and engaged audience, come up with a unique topic for your podcast. You don’t necessarily need to create a totally new podcast format or category, but you do have to bring something new to the table.

Start by figuring out what type of podcast you want to create. According to Podchaser, these are the categories with the most podcasts (some of them number in the millions):

• Society
• Culture
• Education
• Arts
• Business
• Spirituality
• Religion
• Music
• Health
• Comedy

Just because these categories are popular doesn’t mean they’ll be impossible to break into. It just means you’ll need to develop a very clear idea of what your podcast is about so it stands out.

Planning out your podcast

When creating a plan for your podcast, here are some questions you should ask yourself:

1. Who are your listeners? Find out what they listen to, what kinds of topics keep them engaged, and what types of hosts or formats they gravitate toward.
2. What will the format of the show be? Will it be a solo host show, a host and cohost show, panel discussions, one-on-one interviews, storytelling, or something else?
3. What will be your narrative style? Some podcasters are known for their trademark personalities or voices. Would your show benefit from the same?

Once you’ve nailed down what you’re going to do, come up with a name. Make it memorable and easy to pronounce. Then create a brief description that sums up the show’s purpose and format.

2. Buy high-quality equipment

You won’t be able to create a profitable podcast using the camera and microphone on your smartphone. You’ll need professional podcasting equipment, which may include microphones, headphones, and podcast editing software.

If you plan on adding a visual component, you’ll also need to invest in seating, lighting, and video editing software.

While you could try to do this on the cheap, the quality of the recording can greatly impact your listeners’ experience. If you want to retain a loyal audience and get them to leave you good reviews, then high-quality equipment is a must. It’s also beneficial for attracting high-paying sponsors.

3. Choose a good podcast platform

Although it’s possible to host a podcast on your own website (and you should), you’ll be greatly limited in terms of discovery and reach if that’s the only place your podcast lives. That’s why all the most successful podcasters submit their shows to prominent podcast directories.

Here are your best options:

• Apple Podcasts
• Google Podcasts
• iHeartRadio
• Spotify
• Stitcher

Choose one or more platforms where you want your podcast to appear, and create an account. Many of these platforms can help with your monetization strategies as well. Some have their own ad networks, while others offer tools for setting up subscriptions.

Setting up your RSS feed

If you’re starting a podcast for the first time, you may have never heard of an RSS feed, but it’s an essential component of any podcast, and you’ll need one in order to sign up for podcasting platforms and make your show available to listeners.

The simplest way to create your podcast’s RSS feed is to use a podcast hosting provider, such as Buzzsprout, Acast, or RSS.com. You then simply upload the mp3 files for your podcast to your chosen host, and they’ll provide you with an RSS feed link.

After that, all you need to do is upload your RSS link to each directory you sign up for, and users will automatically be able to instantly access each new episode you release.

4. Build an online presence to promote your podcast

In today’s world, running a lucrative business is next to impossible without a digital presence, and the same applies to making money from podcasting. This is because many people use online search tools to find new content.

If your podcast is hard to find online, you’ll struggle to get new listeners. But if you take the right steps to make a strong impression on the web, a huge portion of your work will already be done for you on your journey toward becoming a paid podcaster.

Creating your own website

A website is an important marketing asset for any side hustle. But for a podcasting side hustle in particular, a website offers a suite of benefits.

If done well, your website can become a top destination for people browsing the web for content like yours. When you use your website to share details about yourself and your goals, it can even convert one-time listeners into active followers.

Another benefit to having your own website is that it can be a great place to host your podcast’s RSS feed, allowing you total control over your branding. You can also use it to create a newsletter, start a blog, sell merch, and more.

Using social media

Once your podcast website is ready to go, set up social media accounts where you can promote your show. Platforms that revolve around audiovisual content (like Instagram and TikTok) are the best places to start.

Use your social media channels to post clips and previews from your show. If it’s a strictly audio format, pair those clips with a visual component—like a cover image for the show or another custom graphic. You can create these images with a free tool like Canva.

5. Make your podcast accessible

Not everyone who enjoys podcasts can hear them, nor can everyone see the videos that go along with them. To cater to as many people as possible, make sure your podcast is accessible.

For the hearing impaired, add transcripts and/or shownotes to the bottom of each episode. If you’re recording videos, also remember to add captions.

For the visually impaired, find ways to make visual content in the show easy to understand without it being seen. For instance, if you’re referencing a chart, take the time to explain the most important data points during the show.

It’s not just people with physical impairments who benefit from accessible podcasts. Situational impairments can impact them as well (like someone who’s forgotten their headphones on the bus ride to work).

6. Interact with your community

People will gravitate toward your show when you have something interesting to offer them. However, what makes them want to spend money to support you is feeling as though you value them as listeners and followers.

The best way to show that is by listening to and interacting with your fan base. There are different ways to do this:

• Invite people to call into the show and ask you questions.
• Respond to comments on social media.
• Read and respond to comments left on your website or blog.
• Mention things during the show that listeners have shared with you.
• Give patrons special shout-outs during your show.

Another option is to offer premium content and goods that are relevant to your podcast. That’ll demonstrate to your audience that you know who they are and understand what they want and need.

7. Network with other podcasters

Sometimes the best way to get new followers is to appear on other podcasts or feature other podcasters on your own show. This isn’t just a tactic that’s valuable when you’re a brand new podcaster.

If you listen to podcasts in the same category, you’ll notice that popular podcasters often appear on each other’s shows. This doesn’t just help add value to each show—it also gives both podcasters exposure to new listeners who might not have heard about them before.

8. Follow best practices for professional podcasters

Creating a high-quality podcast goes beyond putting out episodes with crisp audio quality and a catchy format. There are other things you need do to increase your chances of success as a professional podcaster:

• Create clear, descriptive, and succinct titles and descriptions for each episode.
• Keep the episodes a reasonable length.
• Edit every episode before releasing it.
• Fact-check any references made during the show.
• Create high-quality graphics and show previews to promote each episode.
• Be transparent about all ads and sponsorships.
• Publish episodes on a regular schedule.

By paying attention to these details, you’ll put yourself in the best position to create a high-quality podcast that makes money.

Once you start spending money on equipment and realizing how much time it takes to produce each episode, you might be eager to start making money. While it is possible to monetize your podcast immediately once you get started, not every monetization method will be a feasible option for you right away.

That’s okay. You have tons of options to play around with. This list covers today’s most popular podcast monetization methods.

Get a sponsorship

There are tons of brands willing to pay podcasters for a minute or so of their audience’s time and attention each episode. Podcast sponsors get a “This episode is brought to you by” shout-out, usually at the start of the show.

While some brands might be open to advertising on smaller podcasts, those podcasts first have to demonstrate their worth. Specifically, sponsors will want to know the size of your audience as well as the number of downloads each episode gets after it airs. This will give them an idea of how many ears will hear their ad and whether or not it’s worth the investment.

Once you have a podcast with a decent audience, you can connect with sponsors through your podcasting platform or by reaching out directly to ones you’re interested in working with.

Before you start a sponsorship deal, make sure it’s the right time. It’s not just your profits that matter. You also have to consider your audience.

When you first launch a podcast, you have a delicate relationship with listeners. You need to capture their attention with your content and convince them to subscribe and keep tuning in. Asking them to wait while you talk about another brand right off the bat might disrupt that trust-building process.

Sign up for ad networks

Unlike sponsors, advertisers run more traditional ads that are either prerecorded by the brand or read aloud by the show’s host. Ads can appear at the beginning, during, or at the end of the show.

To start running ads on your podcast, you could join an ad network or broker like AdvertiseCast, Gumball, or Podcorn. Like the case with sponsorships, however, you’ll need to demonstrate that you have a sufficient following to be considered.

Use affiliate marketing

Affiliate marketing is much easier to get started with than ads or sponsorships. That’s because affiliate promotions don’t require tons of coordination and creation. Instead, you recommend a brand and get paid based on how many people buy something based on that recommendation.

When you’re ready to start affiliate marketing, join some affiliate programs. Some of the bigger brands have their own programs, while others are associated with larger networks or marketplaces.

It’s important to choose affiliate partners that fit well with your show and brand and that you can comfortably promote. Think about what products are relevant to your show or that your listeners might want to buy. And remember that if you affiliate with a bad brand, it could harm your reputation or cost you listeners.

Ask for donations

Another way to start making money with your podcast earlier on is to ask for donations. This isn’t guaranteed to earn you much money, but it will allow your most avid fans support you.

A nonintrusive way of asking for donations is to set up a donation account on a platform like Patreon and add a donation link to each episode’s page and your website. This way, it doesn’t have to interrupt your show.

Offer paid memberships

You can use platforms like Patreon, Apple Podcasts, and Spotify to sell memberships. If you want, you can create various tiers, too. Members willing to pay more get more in return—just make sure you have enough freebies to make it worth it.

Here are some ideas for special offerings that could win you paying followers:

• Ad-free episodes
• In-episode shout-outs
• Bonus episodes
• Extended guest interviews
• Early access to content
• Live episodes
• Merch discounts

It’ll take some time to get your podcast to the point where people want to subscribe. All you can do is keep on creating high-quality material and fostering a sense of community around your podcast until they’re ready.

Sell podcast merchandise

Many podcasters and other creators sell merchandise as a way to fund their work. Here are a few ideas to explore:

• Shirts
• Hats
• Bags
• Mugs
• Tumblers
• Footwear
• Tech accessories
• Coasters
• Towels

Typically, podcast merch is inspired by the content from the show. You can’t just slap your podcast’s logo or graphic design onto a bunch of shirts and expect it to sell. It needs to be something catchy, inspiring, humorous, or conversation-provoking that your fans will be proud to show off to others.

You can use services like Printful and Zazzle to create your merchandise. However, before you start spending money on podcast swag, consider offering some of it as part of your membership. That way, you can get a sense for what types of items your fans will go crazy for and avoid spending money on merch that won’t sell.

Another way to gauge interest is to wear or use it when filming episodes or while posing for promotional photos or videos. If your audience loves it enough, they’ll ask where to get it.

Sell other products or services

If your professional background or current day job relates to what you discuss on your podcast, mention or actively promote it during the show. Here are examples of products and services you may be able to convince your listeners to buy:

• One-on-one coaching or consulting: This is a good option for coaches in the life, fitness, wellness, or business spaces with relevant podcast themes.
• Books: Have a great idea for a book? While you’re writing, let your listeners know what it’s about, read them excerpts, and invite them to preorder it.
• Courses: This would be a particularly good option for business and lifestyle coaches as well as those with educational podcasts.

With this option, you’re essentially using your podcast as a platform for another side hustle. There’s a reason so many creators combine side hustles: It’s a great way to maximize your earnings.

Repurpose your podcast content

The ideas you put into your podcast aren’t just valuable in audio format. To get the most value out of the work you put into creating your podcast, you could transcribe your episodes into written form.

Once you have your ideas in writing, get them edited. You can then try pitching the article to magazines, blogs, or news outlets. If you’re successful, they could give you a decent chunk of money in exchange.

Post your episodes on YouTube

If you’re planning to film your podcast, then you could monetize your podcast by posting episodes on YouTube. There are several ways to make money on YouTube, the main one being to sign up for the YouTube Partner Program (YPP).

Once enrolled in the YPP, advertisements will run before, during, and after your videos, and you’ll be compensated whenever viewers watch ads in full. This program isn’t open to everyone though.

You’ll need to have a YouTube account in good standing, at least 1,000 subscribers, and either 4,000 watch hours from the past 12 months or 10 million Shorts views from the last 90 days.

If you’re thinking this will be a viable way to make money on your podcast, start working on it now. Publish your free podcast content there and add a call-to-action in each episode inviting your audience to watch on YouTube as well as listen.

Something else you can do while waiting to build up your numbers is add affiliate links to your YouTube descriptions. Even if you can’t generate income from YouTube ads just yet, you can encourage listeners to click on the links found in the description or show notes.

There are other ways to make money as a podcaster. For instance, here are a few creative ideas:

• Host live shows: If you’re feeling brave enough, record an episode in front of a live audience and sell tickets for the show. This would also give you a good chance to do a real world meet-and-greet and get to know your listeners better.
• Do public speaking gigs: Put your engaging and authoritative voice to use at paid public speaking gigs like conferences, retreats, seminars, and more. Others may be willing to pay you to speak on topics you discuss in your podcast.
• Edit podcasts: If you’re a skilled audio or video editor or you want to try your hand at producing, this will allow you to be involved without having to be the star of the show.
• Start your own podcast platform: If you’re fully committed to working in the podcast industry, you could launch your own podcast streaming platform. Just beware that this will require a lot of work, planning, and upfront investment.

When coming up with other ways to make money as a podcaster, take a look at other aspects of your life and career. They’ll point you to the best options.

Podcasters can and do make money. Take the highest paid podcasters, for instance. According to Forbes, the top five highest-paid podcasters earned a cumulative $70 million from their flagship titles.

One of these most popular shows, My Favorite Murder, gets 35 million downloads each month and makes $15 million a year. The most popular podcast in 2022, The Joe Rogan Experience, supposedly earns an astonishing $100,000 per episode. 1

It’s worth noting that these are extraordinary examples, and you shouldn’t expect to earn millions of dollars per year. But with determination and dedication, podcasts can become a profitable source of income.

How much can you realistically earn as a podcaster?

Some podcasts are million-dollar hits, whereas others earn no money at all. Because of how variable podcast earnings can be, it’s hard to say exactly how much money you’ll make.

You earning potential depends on various factors. Time is a big one. You have to be willing to put in serious work every week to release new content—and that’s just for your free followers. Another factor is which monetization strategies you use.

To give you a general idea, AdvertiseCast has a calculator to help you figure out how much money you can make from podcast advertisements. Let’s say your episodes have an average of 100 downloads/users. If you’re consistent and create one episode per week and run three ads during each, you might make $5 an episode.

Diversifying your monetization methods is another piece of the puzzle. Ads and sponsorships might be how the big podcasts make money, but even top podcasters combine multiple money-making strategies. For instance, the cohosts of My Favorite Murder do 40 live shows every year. They also wrote a book that became a New York Times bestseller.

On top of creating content, you also have to build an audience and devoted community around your podcast. As your audience grows, so will your earning potential. With ads alone, you’ll need about 50 listeners to make $1 from your podcast.