How much do podcasters make?

Selling merchandise

One way to develop a revenue stream from podcast listeners is by selling branded products related to the podcast.

Mugs, t-shirts, and hoodies are some of the most popular items that’ll help boost your podcast income. If you have a loyal following, selling branded products can be effective and easy to implement.

Affiliate marketing

Alternatively, you can promote other companies’ products through affiliate marketing. This is a performance-based marketing model. Podcasters promote a partnered business and receive a commission for every listener who clicks and purchases from the podcaster’s unique affiliate link.

Affiliate sales from trusted businesses – like Shopify and Squarespace – have become a reliable way to promote products. It’s also a method most podcast listeners are familiar with.

Advertising and sponsorships

Making money with a podcast sponsorship or advertising involves partnering with businesses to promote their products or services within the podcast itself or as a sponsored segment.

Unlike affiliate marketing, advertisers can pay per user click or impression, while sponsors can provide initial and long-term financial support in return for future promotional opportunities.

Podcasters can prepare advertising space through ads at the beginning or middle of their episode – pre-roll or mid-roll ads – or create entire sections as sidebars for branded content.

Advertisers are usually interested in reaching a specific demographic. Aligning partnerships with your podcast’s theme is crucial to keeping listeners engaged and remaining authentic while generating ad revenue.

Crowdfunding and donations

Listener donations through crowdfunding or direct payments require a loyal audience who support your podcast’s content and brand message.

Many podcasters create crowdfunding events or ask for donations through platforms such as Patreon and PayPal.

Podcasters can also add incentives that encourage listener donations by offering exclusive content or additional benefits, like access to a private chat community.

Digital products and services

Many podcasters choose to produce exclusive paid content or sell additional services. These can include online courses, consulting services, or digital products related to the podcast, like topic research guides or eBooks.

This method is good for gathering unused drafts or new insights from your podcasting experience and offering exclusive teaching or professional skills through premium content.

Top-earning podcasters

Most successful podcasts started from scratch and slowly grew into what they are now. Considering that everyone’s journey is different, it’s best to look at high earners as a reference point rather than a step-by-step guide for your own podcast.

These are some of the most popular podcast hosts and their success stories.

1. Joe Rogan

The Joe Rogan Experience podcast is by far the most famous name in the industry. His unique commentary paved the way to becoming an independent online publication – transitioning from TV networks and radio shows.

The podcast host, Joe Rogan, interviews various celebrities, scientists, and politicians from all walks of life with engaging discussions while addressing emerging trends.

With over 9 million followers, many sponsorships and ads, his team earns over $10m annually with three episodes per week.

2. Dave Ramsey

The Dave Ramsey Show podcast has earned a lot of fame with a host that’s gained one of the largest audiences and earnings in podcasting history. Ramsey covers financial issues and advice on how to make smart economic decisions.

The podcast host has a loyal following, mainly those working in the financial sector with professional finance and real estate degrees.

Dave Ramsey earns around $10m annually from his podcast income alone but also publishes related books and engages in other entrepreneurial ventures.

3. Chapo Trap House

Centered around American politics, Chapo Trap House and its five hosts show how an unconventional internet career can become a million-dollar enterprise.

Hosts Virgil Texas, Felix Biederman, Will Menaker, Matt Christman, and Amber A’Lee Frost combine hard-hitting political analysis with casual and crude humor.

Chapo Trap House hosts make money podcasting from over 35,000 Patreon memberships and selling premium content, leading to an impressive annual income of $1.5m.

They’ve also published a bestselling book and rallied thousands of loyal listeners to their cause.

Many successful podcasters are a product of their time, covering relevant topics in the current social discourse.

Some are entertainment-focused podcasts with celebrity interviews. Others break the mold with more artistic, unconventional, or niche-specific content, like the popular absurdist comedy podcast Welcome to Night Vale.

One is not better than the other – all types can excel without the need to replicate mainstream podcast content.

Invest in quality

• Prioritize quality podcasting equipment, like microphones and headphones. Rent a studio space if possible, or take the time to make your own audio booth.
• Invest time editing and mixing your recordings to sound polished and professional.
• Research your topics extensively to add value to listeners. For example, create an engaging educational podcast series to keep them returning.

Pick a theme

• Choose topics you understand well or know where to research.
• Practice a format that fits your personality, i.e., solo shows, interviews, or panel discussions.
• Pick a suitable theme that’ll produce consistent content – try not to release podcasts sporadically.

Listen to your Audience, but remain unique

• Create open channels for constructive feedback, but maintain your own style and voice.
• Continually improve your episodes by staying up to date with listener retention.
• Focus on researching your target podcast audience and how they consume your content.

Podcast market saturation

With over 5 million active podcasts saturating the market, persuading advertisers is difficult.

It’s hard to find a topic you’re passionate about that doesn’t overlap with existing artists, but there is a silver lining. With a wide variety of the same information already out there, you can utilize these resources to find new niches that haven’t yet been explored.

Attract and keep sponsors

Sponsors often hesitate to invest in shows with less than 10,000 downloads per episode and will continuously track audience purchases to make sure they’re getting their money’s worth.

Retaining podcast sponsorships can be extremely difficult. Niche topics might invite podcast listeners that don’t align with a sponsor’s target demographic, so look out for ways to maintain relatable and advertiser-friendly content.

Lack of data

Podcast-related services are less likely to share public data, meaning podcasts may lack the metrics advertisers depend on to measure performance.

The lack of measurable data goes both ways – it’s harder to tailor content to podcast audience preferences when you can only research for feedback manually. It’s also challenging to demonstrate value to potential sponsors without the data to enhance future income capacity.