These days, everyone and their ex-boyfriend has a podcast. But do they actually make money with it?
There are plenty of ways to make money podcasting, from placing ads to selling merch. The most popular podcasters make millions, but even hobbyists can make some extra cash.
Take David Weinberger co-host of Shonen Flop, for example.
“We take a look at a lesser-known manga that ran in the popular Japanese magazine Shonen Jump,” he said. “There’s a lot of really big hits in that magazine, but what happens to… the ones that don’t last so long?”
The podcast’s funny, and in-depth reviews have earned it hundreds of five-star ratings – and a few hundred bucks a month for Weinberger.
Not every podcast is going to be as popular – or profitable – as Serial. But plenty of podcasters make a little extra money doing what they love. We asked Weinberger to walk us through the steps.
1. Get Real
Making money with podcasting is a totally realistic goal. But how much money? Spotify reportedly paid $200 million for exclusive rights to The Joe Rogan Experience. Amazon spent $100 million on Exactly Right Media’s podcast portfolio (read: My Favorite Murder). But for every uber-successful megahit podcast, there are a hundred others that never make a cent.
Most podcasts fall somewhere in between. Shonen Flop is one of them. As of this writing, the podcast makes $286 per month on Patreon: not enough for the creators to quit their day jobs, but enough to cover the cost of their hobby.
When setting goals for podcasting income, be realistic. You probably won’t make a million in your first year. Focus on putting out the best show you can in the meantime.
2. Get Professional
Listeners (and potential advertisers) tune out when sound quality is low. Make audio a priority from day one.
Think you can get away with phoning it in? Think again.
“Your first episode will always be your first episode,” Weinberger said. If it’s full of static, road…