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When it comes to podcast monetization, it seems I have a very different perspective on this than a lot of professionals in the podcast industry. My take on making money in podcasting is not controversial per se, but it does favor transparency and realistic views on tangible goals. In other words, when consultants tell you, they can get you in the six figures your first year - RUN! But there?s more to it than that. 


Let?s Start at the Start


A lot of the things podcasters are advised to do from launch are often damaging. They don?t make money, and they take away from the quality of your show. Monetization can easily lead hosts down a path of misaligned ads and sponsors, front-end heavy ads, and overall lack of control over the feel and sound of your show. 


If you don?t already have a very large audience and a way to generate large download numbers, falling in with an agency promising monetization (especially ad monetization) simply does not make sense for your show. You will never (or hardly ever) reach their minimum requirements on downloads, therefore, you?re looking at maybe an annual payout of $100 or less. One payment per year, and you have given up crucial space on your show, often at the very beginning, where listeners crash out if the ad doesn?t resonate. While it is enticing to get paid or at least recoup some of your money, it has to be worth it in the long run. 


This Ad Monetization path is one where downloads absolutely matter. With all of the changes happening at Apple and on other platforms, it?s getting more and more difficult to make those legitimate downloads happen. Agencies know this so they dump all the ads at the front of the show and now your listener might be ninety seconds in before they even get to your intro. On top of that, if your audience is majority female business owners and they get served up an ad for a very male-specific product, they?re gonna think they don?t belong there and drop off before they?ve even heard your show. 


When we look at shows like the Joe Rogan Experience or Smartless, it?s easy to daydream about getting those big money ad contracts but you?ve got to consider a few things: these shows have hundreds of episodes, the hosts have put in the time and work building a fan base, they?ve dedicated staff to growing and promoting the shows full time, and they are truly full time celebrities or influencers essentially. That?s what you?re signing up for if you want to take the Ad Monetization route. 


Making Real Money


There are many different ways monetization can happen and actually work in your favor, so let?s change gears here. Let?s start adding value. Promotional Monetization is a profitable path if you?re advertising your own content and products. This also works well with joint venture or affiliate partners, where you?ve made a deal to promote products and services you know your audience will benefit from and ultimately need. When choosing these partners, the same dangers apply that we discussed about ads. Partnerships must benefit your audience and ?fit in? with your show, brand and business. 


The ?when? is just as important as the ?who?. To my point earlier, YouTube sensation Mr. Beast says if you don?t cultivate what?s happening in the first 30-seconds of your show, you?re setting yourself up for failure. We agree and actually recommend our clients deliver amazing content first and wait until the last third of their show to begin promoting or advertising for anything. This gives you ample content to attach that pitch to so your listeners can see that you are offering them something they need, that aligns with your show and brand. This is how we build trust. 


Numbers Don?t Lie


I can personally attest to 37% higher conversions on all promotions once we made this switch. If you want that 30%+ conversion rate, be strategic about your promotion model. Here are a few additional (and very interesting) numbers you?ll want to look at:



Three Mistakes That Hurt Your Podcast Bottom Line


Working in the podcasting world for so long,I?ve seen hosts fall into traps that devalue their monetization opportunities - and they might be things you haven't even considered yet. 


  1. If your cover art has a picture of you on it, you?re going to have to work three times as hard as the next show. Building on that, if your show is named after you (and you aren?t Joe Rogan), you?re going to have to work ten times harder than the next show. 
  2. If you don?t have a home base (read: your own website) that features your show and your products or services, and no way to prove conversions, you?re not going to be able to show potential partners or advertisers your value. Not only are you affecting your bottom line, you?re creating friction between your customer and their path to purchasing. Make it simple. 
  3. If you have explicit content or swearing as part of your show, you?re going to have to work harder than other shows. Plenty of brands actually have screeners that say they can not advertise on a show with explicit content, so this is something to keep in mind.


Content + Time Matters Most


All of that said, no matter whether you plan to monetize through ads or promotions, you still must have a great show with strong, useful, or entertaining content to even be able to apply any of these rules. And, you have to be willing to put in the time. The one thing you can?t get away from when monetizing your show is that consistency and constancy matter. If you can?t be bothered to show up for listeners week after week with your content, why should I advertise on your show, or buy your book, course, or coaching program?   


About Tracy Hazzard:

Tracy Hazzard is the co-founder of Podetize, the largest podcast post-production company serving independent podcasters. With over 3,600 interviews and extensive features in major publications such as BuzzFeed, Inc. Magazine, Wired, Forbes, and CNN Money, Tracy is a leading expert in podcast monetization, audience growth, and strategic media innovation.


Podcast Audience & Monetization Expert

Business Acceleration Network Contributor