The audio revolution began a few years back and is now taking over all forms of content. Alexa, AI mediated voice searches on Google, podcasts over videos, audio books over e-books are a few examples of how audio is here to stay and make a place in the market of content delivery.

If you are a content creator, I’m sure podcasting has tempted you. What stopped you? Is it the process or the money? Well there is tons of information on producing a podcast on a shoe strings budget on the web. Here you will be learning about how to monetize a podcast with as little as 1000 subscribers.

An Indian podcaster can monetize their content in 4 ways:

• Subscription plans in India [Apple, Spotify, Kuku fm]
• Support from listeners [Ko-fi, Patreon, Buy me a coffee]
• Affiliate programs [Anchor, Hubhopper]
• Brand collaborations

Subscription plans in India

This model of monetization involves premium paid content created exclusively for a particular set of subscribers who have signed up for the service. The premium content can consist of exclusive episodes, merchandise, other benefits like additional paid newsletters packed with content or bonus episodes. There are many platforms in India that have recently started this service.

Pros:

• You don't have to search for brands.
• You don't need a huge listener base. As less as 1000 loyal listeners are enough to generate a substantial income.
• You can use your existing follower/subscriber base to provide premium content.
• Payment gateway hassles (stuck payments, refunds, tax cuts) are all handled by the platform thus making for a seamless experience for the creator.

Cons:

• Part of your revenue is kept by the platform. Depending upon their rules it can vary from 10 to 30%.
• You need to have a loyal follower base that are hooked to your content and willing to pay.
• Creating extra content for the purpose of subscription.

Platforms like Apple, Spotify and Kuku FM have recently launched this service in India.

For more information on Apple Podcast Program, you can check this article from the Indian Express. Spotify’s plan has rolled out in the US, but a waitlist for creators who wish to embark on their paid subscription service has been created. Kuku FM’s FAQs for premium support for podcasters can be checked here.

Support from listeners

Podcast production involves providing value to our listeners. Either through entertainment, drama, researched information or personal experiences. Once people like your work and they are loyal enough to support you, you need to have resources ready. For listener support, as little as 100 loyal subscribers suffice. Listeners provide donations in return for access to archived episodes, early access to newer episodes or special bonus episodes in addition to merchandise.

There are many platforms that charge minimal to no fees for receiving donations from Indian and international listeners. What's important is the CTA for the listeners. A classic example is to simply send them to the donations page where they can see and decide for themselves.

Patreon is the oldest platform which helps creators monetize any kind of content. Buy me a coffee is a rapidly growing alternative to Patreon. Ko-fi is another platform. One of its unique features is it lets you set up a shop and sell your merchandise without the hassle of handling payment gateways or setting up a separate website.

Affiliate programs

These programs involve advertising the platforms on the creators show. For e.g. you can record a 1 min advert and insert it in pre-roll, mid roll, or post roll within your episode. You get paid each time the listeners have heard the advertisement. The aim of such programs is to on board new creators by reaching new audiences via your shows.

Pros:

• No set up required.
• No specific number of episodes or downloads required.
• Easy money.

Cons:

• Listener experience is distorted.
• Listener might even leave the episode.
• Payment is low.

Anchor internationally and Hubhopper in India are two such platforms that have affiliate programs.

Brand collaborations/sponsorships

If you have more than 10,000 downloads per month then you are officially ready to monetize your podcast and earn enough to get some bills paid. The number of downloads is the minimum criteria to earn a substantial amount in the international market. Though brand collaborations can easily be bagged with lesser downloads too. But they fail to convert due to the payment method in place for podcasts.

Just like Google ads or Word ads the payment of podcasts is in terms of CPA or CPM.

CPM rate: an ad expense measurement of the “cost per mille” (or per thousand) listens of a podcast.

CPA rate: a measurement of the “cost per acquisition,” or cost to acquire one new customer as a result of an advertisement.

Podcorn sponsorships is an excellent platform to bag some good deals that align with your shows.

Tips to bag good deals:

• Go for CPA method of payment if you less than 10k downloads per episode
• Go for CPM method if you have more than 10k download per episode
• Write a good elevator pitch that aligns with the brands interest
• Choose only brands that are form your niche for e.g. an advert of a beer or real estate in a parenting podcast will sound absurd
• Keep the listener experience in mind

Something to help motivate you:

Garima Surnana’s podcast Popkast rose to fame within a short span of one year due her unique content. Using songs, pop references of the 90s she and her guests create awareness on women related issues.

Monetization model: Brand collaborations, affiliate programs.

In one of her episodes on female sexual pleasures, she on boarded a brand of sex toys in India. It's still a very taboo topic in our country, so what clicked to the brand? Exclusive time on her episode where everything pertaining to their products was discussed.

Hub hopper affiliate program helps content creators earn a few extra bucks for onboarding any new podcasters on their platform. Another one of monetization techniques of popcast with Garima.

Nikesh Murali’s podcast Indian Noir is a chart-topping podcast about 3 years old and a listener base of 1.4 million+.

Monetization model: Spotify exclusive deal, listener support on Ko-fi.

If you have garnered a huge fan base and your content has been popular and chart topping for quite some years that's when market giants like Spotify identify your work and invite you for an exclusive deal.

These ideas might seem far flung for a new podcaster but patience and consistency are the key to success in the podcasting industry.

Have you monetized your podcasts? What struggles are you facing? Do share in the comments below.