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The debate over how to make money with podcasts began shortly after they were rolled out. At first, the natural inclination was to do pre-roll or post-roll ads on podcasts – much like existing media such as TV and radio. But some very successful companies have ignored this strategy. They have developed their own business model that has allowed them to earn money from their passion. Here are 9 ways to make money from podcasting...
- Become a podcast consultant – Why not help those who are trying to get started with podcasting by hanging out your own shingle and offering your services?
- Start a full-service podcasting company like podango.
- Form a podcast network like PodTech and offer services as well.
- Charge for premium content – If your content is that valuable, charge for it.
- Podcast advertising – Companies like Kiptronic will do audio ad insertions and share the revenue. They also do post read (listen) ads.
- Solicit donations from listeners – PayPal has an app you can put on your site that will allow folks to leave you a tip (think tip jar).
- Score valuable schwag – Barter with companies for things you need to keep your podcast series going.
- Employ a sponsorship model – An example here is MommyCast, which keeps its product recommendations really relevant to its audience.
- Build a huge following and sell your company – Wallstrip, which was bought by CBS, tapped into a huge audience, and it paid off.
If you are going to consider advertising in your podcasts, think about your listeners first. I suggest you start the show first, and then run the ad, so listeners are not lost the second they tune in. And think about listeners on an iPod shuffle. If all they hear at the very beginning of your podcast is the same ad, they will be disoriented, they won’t support your advertiser and they may even opt out of your podcast series.
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Comments
Great and thought-provoking post. This is why I got excited about Jaffe's recent attempts and then success at getting sponsorships for Across The Sound/Jaffe Juice. I didn't completely agree with how the sponsorships were executed, but loved the fact that he was pushing the boundaries and getting the conversation about content producers being compensated for their content.
Great stuff, Paul.
Posted by: Mack Collier | 12.18.07
Very good advice. Hopefully, business will experiment and come up with creative ways to use podcasting. I've seem some great work to date.
Posted by: courtney benson | 12.18.07
So making money off podcasting isn't that much different than finding a sponsor for a blog, is it?
It may be best to focus on one or two of these methods at a time.
Posted by: Hey, Don | 12.18.07
Podcasting is still a little known marketing strategy especially in the world of small business. We need to find ways to implement podcasting in this arena.
Posted by: Small Business Marketing | 12.19.07
All great stuff. There are direct, indirect and integrated ways to make money with a podcast.
The direct way is where you monetize your content using premium content, paid subscriptions, licensing, sponsorships, donations and advertising.
The indirect way is where you monetize your skills by getting hired to speak about podcasting or consulting on podcast projects. This also includes getting book deals, TV deals and job contracts.
The integrated ways is where you monetize your audience by turning them into clients. So you'd sell schwag, products and services or use affiliate marketing to add your listeners or viewers to your database.
Lots of yummy and profitable ways to turn your free podcast into a paid one.
Posted by: Leesa Barnes | 12.19.07
Paul,
Here is a slide presentation I gave at the Podcast and New Media Expo that outlines how to pitch yourself to an ad agency or brand marketer, different kinds of ad units for podcasts and what an insertion order and media kit look like.
Podcast Advertising: Monetizing Your Content
http://blogs.personallifemedia.com/dishymix/2007/10/01/podcast-advertising-monetizing-your-content-by-susan-bratton-from-podcast-and-new-media-expo-07/
It could be helpful for your readers.
Susan Bratton
Personal Life Media
http://personallifemedia.com
Posted by: Susan Bratton | 12.19.07