There are only a few ways to earn money while simultaneously pursuing your passion. Creating a podcast is one such opportunity that both allows you to talk about the things that pique your interest and also gain profit in the long run.
The important question is: how can I monetize a podcast?
Last June 9, the Creator and Influencer Council of the Philippines (CICP) held a Facebook live stream talk entitled “Podcash: Earning Money from Your Podcast.”
Hosted by CICP member, content creator and producer Jako de Leon, the event welcomed prominent podcasters and radio DJs Chico Garcia and Gino Quillamor, and Spotify’s Podcast Partner Manager, Phil Disini. The conversation was geared towards the realm of the podcast and its evolution in the modern media industry.
Among the interesting topics covered were the pros and cons of beginning a podcast, and helpful tips on establishing and monetizing it.
Here are five (5) key hacks for people who want to earn from podcasting:
1. Pitch your shows – reach out to brand managers and advertising agencies.
Around 90% of podcast monetization still comes from advertisements, according to Phil Disini. The key is to package your program strategically and pitch it to agencies.
2. Maximize the characteristic of podcasts being evergreen.
The number of listens and clicks on your podcast can organically increase over time as new listeners discover your releases – both old and current. Podcasts being evergreen could be an additional selling factor to brands and advertising agencies.
3. Get to know your listeners and engage with them.
Audience engagement is key to building a following both online and offline. The freshest topics, segments, and ideas usually come from your audience’s comments and suggestions.
Once you build a community of loyal listeners, many other opportunities for monetization may arise, such as monetization through merchandise and others, according to Phil Disini.
4. Exude passions through your podcast.
According to Chico and Gino, the success of their podcast came naturally after they went with the flow and did what they enjoyed doing. Explore your different passions and see what works best for you and your audience.
5. Set short-term and long-term goals for your podcast.
Being intentional about your goals for your podcast will play a huge role in its success. Aim for progress rather than perfection and create an impact on your listeners.
Starting a podcast might seem hard and challenging at first, but these fundamental hacks can help you take the first step towards following your passion and earning from it at the same time. Considering the high level of competition in the industry, it may appear overly idealistic, but it is worth the risk in the long run. The podcast wave is only getting started. There is, indeed, more to look forward to.
To learn more about the ins and outs of being a content creator, visit https://www.cicp.com.ph/ or check out CICP’s (Creator and Influencer Council of the Philippines) Facebook page.