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How to Earn Money From Your Spotify Podcast A Complete Guide for creators

Aug 15, 2024

If your favorite podcasters earn money through their Spotify podcasts... what's stopping you?

It's true that there is no need for thousands of followers to start generating money from your podcast. All you need is to select the right monetization tactics and tailor them to your target audience.

Get your podcast content working more efficiently for you, and begin profiting from your experience as quickly as you can. This is our comprehensive tutorial on Spotify podcast monetization. It also includes suggestions on how to make money from your Spotify podcast by leveraging the expertise of successful creators.

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Top 5 Spotify podcast monetization tactics

Podcast subscriptions

Spotify for Podcasters offers the opportunity for podcasters to make subscriber-only content which your viewers can pay a monthly subscription to access. This exclusive content lets you build a premium content product that can be sold to customers on Spotify as well as across the podcasting platforms you're currently utilizing.

Through selling subscriptions to podcasts as well as producing content that is exclusive to members You can earn money from your show while providing your audience genuinely valuable content that's tailor-made for your audience.

Here are some suggestions for subscriber-only podcast content:

  • Bonus material and non-cut interviews with guests
  • Deep dives into specific subjects
  • An Q&A, or a call-in show
  • Mini-courses tailored to your subscribers
  • Exclusive offers, discounts, and brand offers
  • One-on-one coaching with members

Think about the content that will be most appealing and valuable to your listeners to convince that they should sign up and sign up.

To use Spotify Podcast Subscriptions it is necessary to be able to publish at least two episodes, and a minimum of 100 listeners in the last 60 days. That's all.

Support for the Listener and donations

The toughest part about creating a podcast is locating your first listeners. If you've established a strong community of avid listeners, encourage them to support your show by making one-time contributions to support your content. This will allow your followers to show gratitude for the work you do as well as allow you to earn a profit through your podcast.

The strategy for monetizing your podcast is easy on Spotify because of their Listener Support feature, which permits you to include a donation button to the Spotify in Podcasters profile. It is also possible to use other monetization platforms like Patreon and Ko-fi as well as Buy Me a Coffee to add donation links across your advertising channels.

Inform listeners that you can donate, including:

  • It is highlighted in the content of your podcast
  • The addition of a donation link to your podcast newsletter

If you are on Spotify, your followers are able to contribute one-time donations to say thanks. Additionally, they can choose to commit to the idea of recurring monthly donations - so your most loyal fans are likely to become faithful patrons of your podcast.

The best tip: If you would like to get more people to make donations, you could offer the listeners an exclusive shoutout, or an incentive offer, such as a discount to bump up the revenue of your podcast.

Automated advertisements

One of the best known ways to monetize your podcast is by adding ads on your content. It is a simple method to make money from your podcasts, and without putting more effort or time.

Spotify gives select creators the opportunity to include Automated Ads to their podcast episodes as advertisements breaks. Spotify ads are available through the Spotify Audience Network (SPAN) and you'll receive selected ads in your podcast content read by voice actors, rather than by you.

There are three kinds of advertisements for podcasts:

  • Pre-rolls: These ads begin your podcast episode, usually in the form of an introduction.
  • Mid-roll: Ads placed in the middle of your podcast's content. They can be longer or more in-depth than pre-roll ads
  • Post-roll The ability to include ads at the conclusion of your podcast in your outro for less disruption for your listeners.

Top tip: This Spotify podcast monetization strategy is only available to specific podcasters who are on the Spotify for Podcasters platform. If you're interested in taking advantage of this feature for monetization, you'll need to get your number of subscribers up to be acknowledged by Spotify.

Sponsorships

If you've been a listener to your favorite podcast host highlighting a particular brand that they like, or recommend their followers to listeners, chances are you've heard of the sponsorship of podcasts.

Today, the most popular podcasts include sponsors who allow the podcast creator to reference their brand - usually in the podcast content, description, and show notes.

Sponsorships can be an excellent method to make money from your podcast, especially if you already have a big listener base. But this monetization strategy is more difficult if you're only getting started with your Spotify podcast.

If you do not have an enormous number of followers, you can try reaching out to smaller companies in your niche and offering them a sponsorship opportunity.

Here are some methods to locate possible sponsors for your podcast:

  • Research ads on blogs and websites within your field
  • Find paid ads for sale via social media
  • Find out which companies are advertising their content with relevant keywords on Google
  • Find brands with ads in magazines related to your niche
  • Ask your listeners for recommendations and products they use

When you're reaching out to corporations, you should take the time to craft a specific, customized pitch. Highlight the specific audience who is listening to the podcast, the features that makes your podcast different and the reasons why the sponsorship might be advantageous for the company that you're pitching.

Here are 10 essential elements to incorporate into your advertising pitch to get sponsorship

  1. The title for your show
  2. Your podcast logo or cover photo
  3. An overview of your podcast, including your topics for podcasts, the contents, format, average length of episodes, the most talked about guests, and much more
  4. Your profile for your staff - with photos and bios of you and your podcast hosts, your experience, expertise as well as any other relevant credentials
  5. Your listener profile - including key demographics
  6. Statistics on the core of your podcast - like listener counts as well as downloads and other stats you have which will assist in selling your podcast
  7. Specifics on how to advertise your podcast including emails, social media as well as your own community
  8. Rates for sponsorship and ideas for partnerships
  9. Link to the most popular podcast episodes
  10. Your contact information

A tip for your initial podcast partner doesn't need to be a well-known name. There are plenty of smaller businesses who are also looking for advertising opportunities in the area they specialize in, so you should go for them to get your early sponsorship deals.

Memberships

If people are listening to your show, odds are they're interested in hearing more from the host. Memberships are an excellent way for building stronger connections with your podcast audience as well as to monetize your audience.

Creating a membership product for your podcast has a host of benefits, which include:

  • Predictable, recurring monthly earnings
  • Opportunities to cross-sell and up-sell to members
  • A resource for gathering comments from the listeners
  • A chance to create an enduring sense of community and belonging around your brand
  • Increased brand loyalty
  • Brand supporters

Memberships can be relatively easy for you to build and maintain - but offer an excellent value for your listeners. They can also be an unrivalled way to get feedback and suggestions to your podcast.

3 bonus Spotify podcast monetization methods

Merchandising

Let your listeners have the opportunity to show off your podcast branding IRL by selling merchandise. The sale of merchandise is an excellent option to earn money for your podcast, and transform your listeners into brand ambassadors.

Your podcast merch can include hoodies, mugs, as well as stickers. Or you could be creative and come up with innovative ways to market your merchandise that are pertinent to the audience you're targeting. Try involving your podcast audience to the process by ask them to tell you what they would most want to purchase from the company you.

Choose suppliers who can manage your products or, in the event that you have only an unreliable following, go to use a print-on demand service instead. Although print-on demand services are more expensive than other manufacturers however, you do not have to be concerned about storing huge quantities of inventory or making a big upfront investment - you'll only pay for printing when someone makes an order and you pay them.

Print-on-demand platforms that are popular include:

Once you have your HTML0 merch ready to go - promote your stuff in the podcast, or in your newsletter, or post your merch on social media, and add it to your store.

Digital goods

Selling digital items is the most effective monetization method for podcasters. Why? Digital tools give users the opportunity to turn your listeners into buyers, all while offering your audience genuinely useful information.

  • Online courses
  • Workbooks
  • Templates
  • Masterclasses
  • Checklists, calendars and other forms of information

Brand collaborations and partnerships

For instance, you might be paid by brands to review the product you are reviewing or to create informative content teaching your listeners how to do something using particular instruments, platforms and products.

It is also possible to partner with other podcasts and cross-promote the content of each other. Pick a podcast that shares your desired audience. If a listener enjoys your podcast you're likely to find them liking theirs and the reverse is also true.

Example of Spotify's podcast monetization The Entrepreneurs on Fire

Entrepreneurs on Fire is an award-winning podcast that has more than 2000 episodes, one million listens each month, and a seven-figure annual revenue.

Together John Lee Dumas and Kate Eriksen help entrepreneurs launch and expand their businesses with tailored advice for creators, solopreneurs, and entrepreneurs with small businesses.

They've successfully monetized their podcast through various strategies such as:

  • Podcasting memberships
  • Online courses
  • Paid ads and brand sponsorships

In the year that Entrepreneurs on Fire launched their first course online it generated more than $50,000 in course revenue within two months.

Here are Kate Erikson's recommendations to podcasters:

"My first step in monetization? Listening. While I put in the effort, people started asking me questions. They wanted book calls, coaching sessions and online courses. ."

"Beginning with your very first brainstorming session, your full focus should be on creating value for your viewers... I put my head down and focused on becoming the best daily interview podcast ever created."

3 tricks and tips that will make making money with your Spotify podcast easier

Repurpose your podcast content

Every podcast episode you create, you should have clearly defined content plans to make sure every episode is as effective.

Imagine what you intend to do with your podcast's content throughout your business - and different ways you can repurpose the content you have created.

A good example is a podcast can be repurposed into:

  • A blog post
  • A webinar
  • LinkedIn carousels and posts
  • Instagram Reels
  • TikTok videos
  • YouTube video and shorts
  • Pinterest tips

Your podcast episodes can be made into the basis for an online course Masterminds, an eBook, and more.

A tip for you: If limited in time or don't have enough resources to reuse your podcast content, use an AI-powered software to generate the transcript instantly of your show so that you can include it in your show notes as well as your site so that your information is searchable. This can make it simpler for potential audience to locate your podcast via Google or other search engines.

Incorporate the user-generated content

Get your listeners more invested to your show by adding the content that is created by users. Make your podcast more interesting by listening to your listeners via calls, questions or even guests.

Why? Because content created by users (UGC) helps your listeners to feel more connected with the brand and you, making it easier for you to build your own community. It also makes it easier for listeners to be enticed to join or sign up to join, or simply make a donation.

Some great UGC ideas you can add to your podcast includes:

  • Ask listeners questions, as well as calls
  • Host Q&A episode
  • Share listener stories
  • Add case studies
  • Include testimonials and reviews
  • Invite listeners to your podcast to be guests
  • I agree to being interviewed by a fan
  • Ask listeners what to talk about next
  • Contests and challenges to run

You should think about the type of UGC that will resonate most with the listeners you want to reach Perhaps they'd prefer an insightful and helpful Q&A or be more attracted by a fun segment that allows a fan to host your podcast. Get creative and follow the mood of your listeners.

Do more public speaking in workshops, discussions, and seminars

In order to create buzz about your podcast and to begin generating additional income for each episode, it's essential to expose your knowledge to the world as much as feasible. That means appearing not just in your own podcast but also making an impression as a podcast host as well as a guest speaker as a panelist and much more.

Public speaking, workshops and discussion all serve the same function in helping to create a reputation as an expert in your industry and an authority in your area. When you build your reputation, you'll establish yourself as a thought-leader that is trusted by people.

In putting your self in the spotlight in the most effective way and making yourself known among your target viewers thereby helping increase the number of listeners who are listening to your podcast, and also open up new opportunities to make money from your podcast, including subscriptions, memberships, sponsorships, and many more.

Start making money with these Spotify methods for monetizing your podcasts

You've invested time, energy, and brain power in creating an amazing podcast. Now it's time to start making money from it.

These tested and tried methods for making money from your Spotify podcast can assist you to convert your best content into tangible income. Use the Spotify for Podcasters' built-in instruments for monetization to earn more revenue from your podcast as well as take advantage of additional methods of monetization, such as brand collaborations merchandise, collaborations, and much more.

With the Spotify partnership, it's more accessible than ever before to reach an audience across the globe with your knowledge. Change your course to an Spotify podcast to expand your reach and drive additional listeners - and earnings - to your business.