In the post-radio era, it should surprise no one that podcasts are exploding in popularity right now.
If you love podcasts, you should consider starting your own to collect ad revenue and raise awareness about your brand.
What are Podcasts?
A podcast is a digital audio content file that is delivered via the internet with a podcast hosting service.
You can listen to podcasts using an app, online via a web browser, or by downloading them.
How Does a Podcast Work?
Individual recordings or live podcasts are called podcast episodes.
Podcasts are usually hosted by a single individual or multiple individuals.
These people, known as “podcasters,” lead conversations, report news, or share stories.
Podcasts can be self-published and hosted on applications such as Apple Podcasts, Spotify, iTunes, Stitcher, and Google Podcasts.
Types of Podcasts
There are eight primary types of podcasts.
- Interview podcasts
- Conversational podcasts
- Monologue podcasts
- Investigative/storytelling podcasts
- Roundtable podcasts
- Theatrical podcasts
- Repurposed content podcasts
- Hybrid podcasts
How Much Can You Make With Podcasts?
When you first start podcasting, you won’t make a lot of money.
However, there are some big players in the podcasting arena who are raking in the cash.
John Lee Dumas produces the popular Entrepreneurs on Fire podcast, and he makes nearly $2 million per year from his podcast revenue.
How Easy is it to Start and Promote a Podcast?
There is a bit of a learning curve with creating a podcast, but thanks to new technology and apps such as Blubrry, it has become easier than it used to be.
To get started with a podcast, you need some basic equipment.
- Microphone
- Headphone
- Podcast hosting plan
- Audio editing software
- Zoom or Skype account
In addition, it is worth checking out podcast software, which makes recording, editing, and sharing podcast episodes simple and hassle-free.
Why is Starting a Podcast a Great Monetization Method?
The podcast industry is exploding, and a report from Paid Insights revealed that there are more than 700,000 active podcasts and more than 29 million podcast episodes.
If you have an existing blog, you can jump-start your blog by taking your content to the “airwaves” via a podcast.
As we mentioned in our section about Pinch of Yum and the Food Blogger Pro company, their podcast is an excellent complementary tool for their blog and membership site.
With a podcast, you have a few different ways of earning money:
- Raising awareness for your blog
- Promoting your physical products
- Growing your email list
- Creating a following for a membership site
- Direct advertising on your podcast
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