Have you heard about the hottest new podcast, Serial?
The podcast the NY Times is calling “Podcasting’s First Breakout Hit”
Now, I’ve been teasing this for a few episodes. I wanted to talk directly about podcasting as a money-maker. Certainly, with the exploding popularity of “Serial” and podcasts in general, people are starting to sit up and take notice of podcasts. And, with any hot “new” thing, the quick-buck scammers are circling like hungry sharks to see if this is just chum in the water or if there’s a whale to catch. You may be asking yourself if this podcasting thing could be the answer to your career problems.
So, can you make money podcasting?
Well, yes, but it’s like most things. If it sounds too good to be true, it probably is. You can make money podcasting, but if you just lost a $70,000/year job and you’ve decided, To heck with the cubicle life, I’m going to start a podcast and make more than I was making at my old job, I’d like to offer a word of caution and a healthy dose of perspective.
Caution: If you have a family depending on your paycheck every month, don’t expect podcasting to instantly fill that gap when you get laid off. It won’t.
How can you monetize your podcast?
- Coaching your topic
- Sponsorships (ads in your show and on the website)
- Affiliate marketing for products you use and/or recommend
- Sidekicking, aka co-hosting and producing shows for other people (clients)
- Networking (using your podcast as a platform to become an expert in your field and get speaking/writing gigs in addition to your podcast)
- Repurpose content for sale as audiobooks, books, courses, etc.
What are some other ways to monetize a podcast?