Podcasts have blown up in popularity over the last few years and there are an estimated 850,000 active podcasts at the moment. This means that you have to be ready to deal with a lot of competition. The good news is that you don’t necessarily need to have a top podcast to make money as a podcaster. People who can attract a loyal audience, nurture it, and monetize their podcast efficiently can make money even with a small following. But you need to have a good understanding of the podcast business first. Let’s take a look at what you need to know before you start a podcasting career in 2022.
Have the Basics Down
The first thing you have to know is what type of setup you need, how to record a professional-sounding podcast, and how to publish a podcast. If you want to know the ins and outs of starting a podcast, we strongly suggest that you check out this article: https://melonapp.com/how-to-start-a-podcast/. You’ll learn everything you need to know including how you can start building a following and how much the average podcaster makes.
You Don’t Need to Go with the Classic Format
One of the biggest misconceptions about the podcast space is that it’s all about people having conversations. But there are all sorts of different types of podcasts out there, and by going with something different, you could capitalize on largely unexploited niches.
You have storytelling podcasts where someone narrates a story with sound effects and uses suspense to hook the audience. Some podcasters do nothing but read product or movie reviews. You even have workout podcasts with trainers giving instructions over upbeat music. So, don’t stay stuck in the box and see if you could use your talents and expertise to build a specialized podcast.
How to Make Money from a Podcast
You should know that podcasts can earn revenue in tons of different ways, so learn as much about monetization methods as you can so you don’t leave money on the table. Some of the common ways to monetize your blog include asking for donations, setting up a tiered system where people can pay for premium content, and getting some sponsorships.
There are also ad networks that will allow you to set up audio ads on your podcasts and split some of the revenue they get from advertisers. These services usually operate on a CPM basis, meaning that you will get paid for simply displaying the ad. You can also make money from things like merchandise or by syndicating your past episodes on YouTube.
The best thing you can do is look at all your options and try to use as many as you can without ruining the experience for your audience.
Starting a podcast is not complicated but building a successful one takes work. But if it’s truly your passion and you’re ready to put some effort in, you’ll greatly increase your chances of success.
