How To Monetize A Podcast on Spotify & Other Platforms In 2023

You will wonder at some point in your podcasting career, “Can I make money with my podcast?” Of course, the answer is a resounding “Yes!” The question that follows is far more important: “What method(s) works best to monetize my podcast?” There are numerous ways to monetize your podcast on Google, Apple, Anchor, and Spotify, which can even be combined to create multiple monetization paths. What is important to consider is what each method entails and which methods work best for you and your podcast. So, let’s take a look at how to monetize a podcast on Spotify, Anchor, and Google, as well as Apple’s podcast monetization and calculator.

How to Monetize a Podcast

Podcast monetization on Google and Apple can be divided into two categories:

• Being primarily compensated by your audience
• Being primarily supported by sponsors

Various monetization methods, such as patron programs, premium podcast content placed behind paywalls, donations, and merchandise, will all be used to get paid by your audience. These methods, which rely on your audience to help fund your show, work well for podcasts with a large audience engagement.

Sponsorship will include monetization methods such as advertisements and ad campaigns, as well as payment from a general sponsor of your podcast. This shifts the burden of paying you for your podcast to someone other than your audience, though audience interaction and participation in your content can influence how effective these methods are.

You can use one method to monetize your podcast on Spotify, and Anchor does not preclude you from using another. For example, you can run advertisements on your podcast while also running a patron program, or you can have an overall sponsor for your podcast while selling premium content.

Again, keep in mind which methods work best for your podcast to ensure that you’re monetizing your podcast as effectively as possible. Consider how much time each episode will be devoted to shouting out patrons or having your ads play and whether any of your monetization methods will conflict with one another.

How to Monetize a Podcast on Spotify

Are you considering starting a Spotify podcast and wondering how to make money from it? Do you have a Spotify podcast that you’d like to monetize? If you can relate to either of the questions, you will benefit from this article.

Whether you’re just getting started or already have a following on Spotify, there are numerous ways to monetize a podcast on the platform. We’ll look at some of the most popular ways for podcasters to monetize their content on Spotify. Here it is, without further ado!

#1. Monetize with Spotify sponsorship

Sponsorship is one of the most effective ways to monetize a Spotify podcast. Sponsors are businesses that want to promote their products or services in front of your listeners in exchange for monetary compensation.

Sponsors pay you to promote their products or services to your target audience on a monthly or per-episode basis.

#2. Affiliate advertising

Did you know? Spotify has an affiliate program. I can assure you that it does. You can earn commissions by using their affiliate or referral program on your podcast. Does this sound like a great way to monetize your podcast? Then give it a shot right now.

Affiliate marketing is the practice of promoting and selling the products or services of other companies by using a special affiliate link or URL. You usually get a commission when podcast listeners click on the URL and buy something.

There are affiliate programs for almost every product or service on the market. You can sign up for popular affiliate programs such as Amazon or eBay, choose a good product or service, and begin earning money right away.

#3. Create and sell your own courses.

To monetize your podcast on Spotify, create an e-course that teaches similar content to what you discuss on the show. Do you teach art or skills on your podcast? Then this is your opportunity to monetize your podcast. You can educate your audience by creating educational audio or video courses. Worksheets can also be designed to be visually appealing.

Platforms such as Skillshare, Teachable, and Udemy are just a few examples. Using these platforms, you can create a beautiful online course for your listeners. These platforms are simple to set up.

#4. Placement of advertisements in your podcast

Join podcast advertising networks such as Midroll, PodGrid, Advertise Cast, and others to easily monetize your podcast on Spotify. These ad networks act as a go-between for hosts and sponsors.

These networks will place advertisements in your podcast. Advertisements can appear at the start, middle, or end of a podcast. You can earn per 1,000 ad impressions, but ad networks will deduct a percentage from your earnings. Different platforms deduct varying percentages of your earnings, so read the terms and conditions before joining their ad network.

The size of your audience has an impact on ad revenue as well. As a result, the higher the earnings, the larger the audience, and vice versa.

#5. Monetize with coaching

Coaching takes less time than developing an entire online course, but it is not for everyone. If you enjoy taking calls to teach or guide clients, this is the best Google, Apple, and Spotify podcast monetization method for you. To get started, all you need to do is create a booking form that accepts payments. This also allows you to build meaningful relationships with your clients.

#6. Premium subscription content/episodes

To monetize your podcast on Spotify, come up with unique ways to provide value to your audience in the form of premium content or episodes. Many podcasters sell their backlog of episodes. Recent episodes will be free, but older episodes will require payment.

Special podcasts can also be created for weekly, monthly, or annual subscribers. Begin selling premium episodes right away by including a secure payment method.

#7. Memberships

Memberships are a great way to generate a steady income from Spotify podcasts. Members pay for your podcast on a monthly or annual basis. By offering memberships, you can build a stronger listener community and develop a close relationship with your listeners. As a result, both literally and metaphorically, this listener community is on your side.

You can meet your members in person and give them a say in the content you produce. You can also send out member surveys, host member events, and invite them to appear as guests on your show.

How to Monetize a Podcast on Anchor

If you’re on Anchor, you’ve probably looked into different ways to monetize and make money from your channel. The most common method is to use advertisements, affiliate marketing, sponsorships, or paid partnership opportunities with businesses. But what if you don’t have the time to devote to establishing and managing all of those relationships?

Podcasting can be an excellent alternative; here are seven ways to monetize your podcast on anchor and bring in new revenue streams.

#1. Set up an AdSense account.

Google AdSense is a platform that allows web-based advertisers to reach people who are interested in their products. It allows you to make money by displaying relevant ads on your website and participating in Google’s AdWords pay-per-click program.

The idea is straightforward: as long as you have a Google AdSense account, you can display relevant advertisements and earn money from clicks or views. For example, if you have a YouTube channel about fishing and selling tackle through an e-commerce store, you could create a video impression ad unit.

Of course, creating an AdSense account is not a simple task. Before monetizing a podcast on anchor with AdSense, you must first understand several technical requirements and best practices.

Fortunately, there are numerous online resources available to assist you in getting started. The first step is to determine which ads will work best for your channel and audience.

#2. Setup your Patreon monetization

If you are a podcaster, it can be difficult to monetize your podcast on Anchor. Many podcasts are free to listen to, but successful podcasts with advertisers face a problem.

How do you reward superfans and provide exclusive content while not alienating non-subscribers? Patreon is a new platform that aims to fill that void. It’s been around for a while, but it’s recently gained traction, thanks in part to its integration with Anchor.

If you already have a podcast or have recently started one, signing up for Patreon is a good way to start monetizing it and keep it running at full speed. Patreon is a website that allows listeners, viewers, and readers to donate money to their favorite artists on a monthly basis.

Patreon is popular among musicians and YouTubers, but it is also quickly gaining traction among podcasters. If you have 100 or 1,000 listeners (or no subscribers yet), you can use Patreon as an additional source of income for your podcast.

#3. Sell your goods

Begin with yourself when you’re looking for ways to monetize your Anchor podcast. Consider directly selling a product or service through your show, such as speaking engagements or a personal training course.

You can also provide related products and services, such as e-books or reports on your preferred topics. A book about the fitness or healthy eating may not sell well if it’s not written by someone who knows what they’re talking about—so be honest about how you make money from your podcast.

You can also monetize your knowledge and experience by teaching others how to start their own podcasts. Share podcasting tips on everything from recording techniques and equipment recommendations to scriptwriting and editing, Google or Apple monetization methods, and much more!

#3. Accept donations and other people’s help

Accepting donations and support from others is the simplest way to make money from your podcast. Patreon, PayPal, and various other services are available to help you set up a donate button on your website.

You can also get creative with your Google and Apple podcast monetization strategies to find new ways for people to donate money to you. Even if donations do not generate significant revenue, having them improves your relationship with listeners and gives you exposure and credibility among others in your industry.

#4. Start affiliate marketing.

If you’re passionate about a subject, affiliate marketing is a simple way to monetize your Anchor podcast. As an affiliate marketer, you promote the products or services of another company.

As part of your promotion, you set up links from their site that redirect customers back to your business. These links, which could take the form of text or banner ads, will allow anyone who clicks on them to purchase whatever you are selling through your business.

Another type of affiliate marketing is the creation of digital information products such as e-books or online courses and having people purchase those materials so that they can get whatever they need at your place of business.

#5. Participate in sponsored posts

A sponsorship post is a paid advertisement that appears on your podcast’s show notes page or in its description. Listeners can usually tell when a post is sponsored because you make it clear that it is sponsored content. Some platforms have specific requirements for sponsor disclosure, so read up on them before embarking on any potential partnerships.

Sponsorship posts are one of several ways to monetize your podcast on Spotify and Anchor; they are most commonly used by platforms with large audiences and high advertising potential (such as BuzzFeed, which might ask companies like Marriott and Expedia to sponsor posts).

#6. Product promotion

Promoting your podcast through affiliate links is an excellent way for a podcaster to earn money. It is especially useful if you want to earn money while sleeping.

Affiliate marketing does not imply that you sell the products of others and keep 100% of the profits. The simplest and most common method is to include affiliate links in your episodes, which direct listeners to products for sale on other websites.

You don’t even have to create or deliver these products; all you have to do is mention them in your podcast and include an affiliate link in your show notes.

Podcast Monetization Calculator

With podcast engagement on the rise, podcasts have emerged as one of the most effective marketing tools. According to Statista podcast statistics, nearly 60% of all US consumers over the age of 12 listen to podcasts. Furthermore, the number of podcast listeners has nearly doubled in the last decade. These figures include positive ad revenue from podcasts. Podcast ad revenues are expected to exceed $2 billion in 2023, according to online data shared by eMarketer.

This podcast monetization calculator was created to help you easily calculate the estimated podcast ad revenue.

How to Use the Podcast Ad Revenue Monetization Calculator

• Adjust the Podcast Download Count slider to achieve the desired result.
• Decide how many podcast ads to include per episode and whether or not to include a pre-roll ad.
• Determine how many monthly episodes you anticipate airing.
• The fill rate averages around 70%, but you can adjust it depending on your fill rate expectations.

How many listeners do you need to monetize a podcast?

To work with them, you usually need a larger audience of at least 5K or 10K listeners per month. Midroll is one of the largest ad networks. Authentic is another popular network, and many podcast-hosting companies have their own networks as well.

How much money can you make from a podcast?

The amount of money a podcast can charge for an advertisement is determined by the number of listeners (CPM). Advertisement rates can range from $20 to $100 per thousand impressions. Here’s an example of how to calculate ad revenue. Assume that your podcast receives 150,000 downloads per episode and that an advertiser pays $30 CPM for an ad.

Can you make money out of a podcast?

The most successful podcasts make money by combining monetization strategies; using just one can work, but it’s not as effective. Sponsorships, affiliate marketing, paid membership programs, and premium content creation are all examples of direct monetization opportunities.

How much does Spotify pay per podcast?

Spotify pays rights holders two-thirds of every dollar earned from content, including payments for premium tier content and advertisements.

Do podcasters get paid on Spotify?

No, is the short answer. Spotify does not pay for podcasts, but don’t despair! We have good news: there are numerous ways to monetize your Spotify podcast. Sponsorships, affiliate programs, ads, coaching, and other methods can help you make money with your podcast.

How long does it take for a podcast to make money?

With the right strategy, your podcast can earn money in six to twelve months. Yes! However, because businesses have only recently added podcasting to their marketing channels, you will need to organize some targeted marketing to shorten the time it takes to monetize your podcast.

How long should podcasts be?

The length of your podcast is also determined by your topic, industry, or genre. It’s possible that 15-20 minutes is ideal for your listeners. However, if your target audience requires more in-depth, exploratory information, 45-90 minutes would be more beneficial.

How much does Spotify pay per 1000 streams?

In terms of how much Spotify pays per stream, they pay around $0.04 per ten streams. So 1,000 streams would cost about $4, while 100,000 streams would cost $400. Remember that this result may be lower due to a variety of factors, such as listening to only half of your song.

Conclusion

When it comes to monetizing your podcast on Spotify, Anchor, Google, and Apple podcast monetization, you’ll want to keep putting your energy into creating the best content possible! By consistently producing excellent content, you will attract more listeners and provide more opportunities for advertisers and listeners to sponsor your podcast. It’s also important to remember the importance of promotion in Google and Apple podcast monetization.

How To Monetize a Podcast FAQs

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Before they will consider working with you, most sponsors will require that you have a large enough audience to receive at least 5,000 downloads per month (sometimes even 10,000). Those downloads still matter after you sign a sponsorship agreement.

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Here’s a quick rundown:

• Create an email list or outreach list before launching your podcast.
• Record 3-5 podcast episodes before you launch.
• Choose a launch date.
• Create assets such as images, videos, and shareable quotes.
• Launch day!
• Send a message to your list asking them to listen and review.
• Continue to release new episodes on a regular basis.

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The majority of podcasts fail. If you’ve started a podcast or are considering starting one, you don’t want to put in all that effort only to have your experiment end after a few months. If you understand why podcasts fail, you’ll have everything you need to create a successful podcast strategy.

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References

• Forbes
• PodBean
• PodcastInsights