036 Making Moolah with Your Mic 💰
Can podcasting actually pay your bills? The VIC Podcasters cover what it really takes to start earning money from your podcast show.
Ideas Discussed This Episode + Episode Timecodes:
00:00 - Why podcasting isn't free and what support looks like
00:28 - Community reminders, mic quality disclaimer, and intro to today's theme
00:54 - The short answer: yes, you can make money, but not overnight
01:20 - Early monetisation options: ads, sponsorships, and selling your own stuff
02:00 - Why multiple income streams matter (especially for small biz owners)
02:30 - Growing fan support and how platforms like Patreon and Ko-fi help
03:10 - Building community first, monetise second: the trust equation
03:46 - The mindset shift you need to make podcasting sustainable
04:30 - Tools, downloads, and support from VIC Podcasters
05:10 - Wrap-up and teaser for part two: strategies that actually work
036 Making Moolah with Your Mic 💰
We’re kicking off a three-part series on monetising your podcast with a look at what it takes to start making money. From sponsors to Patreon to selling your own stuff, we unpack the income options that work, and when to use them for yourself.
Podcasting can be profitable, buuuuuuuut it’s not instant 😓. The first step on your monetisation journey is getting clear on your value and your niche (audience) before even thinking about chasing that cash. Monetisation needs community first, content second, and cash last.
📰 Recommended Episodes:
Listeners of this episode will learn about different income streams they can explore, like sponsorships, listener support platforms, and selling their own services or products. Diversifying their income and staying true to their audience's needs is the golden rule. And don’t forget, your first BIG WIN might come in the form of a download, not a dollar.
Before pitching yourself to brands or companies, or signing up to every affiliate platform under the sun, start by building trust. Show up consistently, offer value, and when your audience knows you’ve got their back, the support (and $$) will follow.
TIME FOR A QUICK QUIZ 🤓
What should come first in podcast monetisation?
A) Big sponsors
B) Value + trust
C) Lots of gear
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Answer: B) Value + Trust - people don’t buy from who they don’t trust. If you want to get sponsors, grow your audience.
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(0:00 - 0:27)
Podcasting ain't free, so how can I make money to support myself and my art? You're listening to the VicPodcasters podcast, your bite-sized slice of podcasting know-how. We're here to connect Victorian podcasters. Whether you're just starting, seasoned pro, or stuck in the one day I will phase, stop dreaming and dive in.
(0:28 - 0:53)
Join our email list or hop onto our Facebook and LinkedIn groups for updates, resources and a supportive community, because podcasting is better when we do it together. VicPodcasters is proudly produced on Waterrun land. Just a quick heads up, this podcast decided to record on a webcam microphone, so it's going to sound a little worse than usual, but I promise I fix it by the next episode.
(0:54 - 3:46)
We are starting the first of a three-part series about podcast monetization, talking about can I make money from podcasting, podcast monetization strategies, and grants, gigs and growth, and obviously the less obvious money and ways to monetise your podcast. But let's start off with how you actually make money from podcasting. The truth is that yes, you can monetise a podcast, but not overnight.
You are not Joe Rogan yet, and even Joe Rogan had to build up a very sizable audience before he could start monetising and making interesting deals with Spotify. Unlike a nine-to-five job, podcasting is not necessarily going to give you a wage or super or any of the benefit that's entailed. How do you actually make money from a podcast? Well, you start off with things like sponsors.
These can be working with companies and people who want to get your message in front of your audience. You can do ad reads. You can sell or provide your own products and services to your audience.
Essentially, when it comes to podcasting, you need to have multiple streams of income to have the safest bet. And also anyone who runs a small business will definitely know this. You need to diversify your income to make sure that every income stream is safe.
Listener support is also rising. So as we reach into the future and look into my crystal ball, when it comes to listening supporter podcasts, back I'd say in 2015, that was more of a pipe dream and things need to be supported by a radio station or a media conglomerate backing everything up. Nowadays, this is less so.
Fans want to tip the creator that they love, and they want to be able to support these people, usually by monetarily means. So this can be something like running a Patreon, where people who sign up or people who pay get access to exclusive content. There are plenty of platforms like Substack, for example, which allows you to have emails, again, using that almost Patreon method.
There are other options like Substack and Ko-fi, which allow you to do pretty much the same thing. Again, it's totally on your preference and how much effort you want to put into maintaining and growing this community. VicPodcasters was brought to you by The Video Confidence Coach.
That's me, smashing your marketing mayhem with killer video strategies. Love ya! But do beware, there are some pitfalls. Chasing money too early can result in a lacklustre approach to your podcast, but also when it comes to monetising a podcast or monetising a project like this, you need to build trust first and monetise later.
Don't go ignoring your niche or ignoring the people who are actually going to support you if you're trying to find riches that are in the niches. So think about monetization maybe a couple years into this project. Unfortunately, you will have to self-fund it in the meantime, or if it is part of a, say, business endeavour on behalf of a group or a company that actually can fund you in this project.
(3:46 - 5:10)
I want to address the mindset shift that you may have to think about when it comes to monetising podcasts or if you have not started a podcast yet, delving into podcasting with the goal of monetization. Think of podcasting as all things podcasting is a long game. Monetization follows value and consistency and you need to establish that before you can even start about asking for money.
Build a community, not a crash grab. And if you want things to succeed long term, your fans need to come for you and not your mic. So in those moments, making sure that you think about providing value and think about growing the community before you start cashing out with sponsors.
And also if you do get some sponsors, do your due diligence and make sure that they're actually good for you and your community. If you're still a little bit overwhelmed by this, don't worry, I've mapped it out for you. Make sure you check out the download in the show notes and the description to download your low stress guide to podcasting for profit.
That is in the show notes and we want to thank everyone who has supported us at The Vic Podcasters and inspired us to start creating these little guides for our listeners and our community. Because to put what you learn in action, you need to be able to have a tool to use and we want to be able to provide you that tool. And if you're already a little bit ahead and already got your first sponsor, why not brag about it on The Vic Podcasters group? We have Facebook, LinkedIn and our email newsletter.
(5:10 - 5:57)
We're always happy to give you a shout out. Next episode in this three-part series will be episode two talking about podcast monetization strategies that actually work. That's a wrap.
Remember, we're here every week to share quick tips, updates and the occasional bad joke. Feeling inspired? Good. Now hit record or go to the show notes of this episode for a backstage past experience of the Victorian podcasting scene.
The Vic Podcasters would like to acknowledge and pay our respects to the Wadawurrung people of the Kulin Nation, the traditional custodians on the land on which we work, live and play. We pay our respects to their elders past and present. We stand with the traditional custodians of these lands in working towards a more equal future.
Always was, always will be Aboriginal land. And remember, podcasting doesn't have to be a solo gig.
The above episode description and transcript were generated with human knowledge + ai.
Photograph of 4 members of VIC Podcasters who met up in Geelong.
Who are VIC Podcasters?
VIC Podcasters—where Victorian podcasters connect, collaborate, and grow!
Podcasting doesn’t have to be a solo gig, and that’s why VIC Podcasters exists. Whether you're a seasoned pro, a hobbyist, or still planning your first episode, our community is here to support you. Join us for free on Facebook, LinkedIn, and our mailing list for exclusive opportunities, industry updates, and a place to swap ideas with fellow podcasters.
VIC Podcasters opens up opportunities to collaborate with fellow podcasters.
As a member, you get access to:
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