If you have a strong interest in a certain subject, starting a podcast is a fantastic idea.  Fortunately, we are aware of a few methods for monetising podcasts.

 When you're meant to be writing that crucial essay, cleaning your dorm room, or riding the bus to university, podcasts are a terrific way to pass the time.
It's a great method to combine your interests with a means of making money online since you can make a podcast on almost anything.  There will be a market for anything you're writing about, whether it your degree subject, a childhood pastime, or a specialised subject you know much too much about.
How is one started?  Above all, how can podcasts generate revenue?  Below, we'll outline the most effective methods.
What does this guide contain?
       ●   A podcast: what is it?
       ●   How to launch a podcast
       ●  What is the income of podcasters?
       ●  How to monetise your podcast

A podcast: what is it?
A podcast is essentially an audio program.  It is comparable to a radio program, except it is entirely online and often not live, allowing listeners to access previous episodes or listen to it whenever they like.
A podcast series is often centred on a particular subject or market.  But it may also be used to amuse or disseminate news.
How to launch a podcast

To create a podcast, follow these steps:
1. Select a theme: Selecting a speciality or subject increases the likelihood of producing a successful podcast.  Listeners will be more likely to subscribe if they like it since they will know what to anticipate when they tune in.
2. Pick a name: Make sure the name conveys the essence of the podcast and is memorable.  You want people to click on it when they see it in a large list of other podcasts.  It's also a good idea to verify whether the name is accessible on other social media platforms if you want to establish a broader brand around your podcast.
3. Establish a format: Establishing a format is essential for everything from choosing the length of your episodes to how you fill your podcast.  Consider whether it will resemble a discussion, an interview, or a news summary, for instance.  Having a format will help you set expectations for your audience, though you can certainly stray from it a little.
4. Choose your podcast gear: Especially in the beginning, you don't need to shell out thousands of pounds for gear.  However, compared to recording your podcast on your phone, investing in a high-quality microphone will give it a much more polished sound.
5. Download audio software You will need to download audio software in order to record and edit your podcast.  Once more, you don't need to pay for this; there is user-friendly, free audio software available.  For example, you can use Audacity without spending a single penny.
6. Create a basic outline of the topics you want to cover before you begin recording your first episode.  Although you want it to seem genuine, you don't have to plan everything, but following a few guidelines can make recording easier.
7. Edit your podcast episode: You may include music, choosing royalty-free recordings, and remove lengthy gaps or errors.  If at all feasible, it's a good idea to stabilise the volume.  Your listeners will find it simpler to appreciate the material and subscribe for more if the audio sounds good.
8. Upload your podcast: You utilise a podcast hosting platform instead of submitting your podcasts to specific platforms (such as Spotify or Apple Podcast).  PodBean, Transistor, Acast, and Buzzsprout are a few of the most well-known.
9.Market your podcast –  Once your podcast is live, it's time to market it.  There are limitless ways to do this, from posting on social media to appearing on other podcasts.  And once you start attracting listeners, you can use our tips on how to make money from a podcast below.
How much do podcasters make?

While there is considerable potential to generate money from a podcast, the quantity varies a lot.  Your revenue potential relies on your topic, the amount of downloads your podcast receives and the many methods you monetise it.
There are those who have turned podcasting into a full-time career and are making millions.  However, this isn't something that occurs overnight!  Building a huge and engaged audience requires time and work – but doing so may surely pay off.
When it comes to advertising, you may possibly charge roughly £20 per 1,000 downloads.  But depending on your speciality, your audience retention and the duration of the advertising, you may be able to charge more.
As there are numerous additional methods to monetise a podcast outside of advertising, you may make a lot more per 1,000 downloads.
How to monetise podcasting

The following are the top strategies for monetising a podcast:
1. Sponsorship agreements for podcasts
Reaching sponsorship agreements with companies is one of the finest methods to monetise your podcast.  Before sponsors will pay for the opportunity, your podcasts must have a consistent volume of downloads.
You may register for Podcorn to get started.  Podcasters and brands may discover them other on this marketplace.  Although there is no cost to join up, Podcorn will keep 10% of any profits you make using their service.
Don't just accept any sponsorship offer that comes your way, even if it could be thrilling when a business contacts you to arrange one.  Accepting corporate partnerships that fit your audience and speciality is the best course of action.  Sponsorships should never seem like a cash grab, and when a product works well with your podcast, you gain the trust of your audience.
Additionally, remember that you have the ability to contact brands directly.  Send an email to any brands you believe would be a perfect fit for your presentation.  Additionally, it won't hurt to check out other podcasts in your industry that you see are receiving sponsorships from certain businesses.
2. Commercials
You may make more money from ads if more people listen to your podcast.  It's far simpler to add advertisements than to arrange a sponsorship with a certain company and keep track of it yourself.
The majority of hosts provide unique ad solutions.  For instance, you may automatically include advertisements at the beginning, middle, and conclusion of your program using Acast, Buzzspout, and Transistor.
3.Affiliate promotion

One of the greatest methods to earn money online is via affiliate marketing.  It's really straightforward: you advertise a product or service, and you get paid a little fee if someone buys anything or registers using your special link.
Promoting goods or services that you already discuss in your podcast is the ideal method to begin with affiliate marketing.  Making sales will be much simpler if you are certain that it fits with both your audience and your brand.
Consider a certain brand or product that your target market could find appealing, and check to see whether they have a separate affiliate network.  As an alternative, you may join affiliate networks, such as impact.com and Awin.  These enable you to apply to hundreds of their network's affiliate programs.
To learn more about affiliate marketing and how to get started, see our comprehensive guide.
4. Plans for membership
Although it takes more work to add a subscription tier to your podcast, the potential revenue is substantial.  If you already have an audience that is interested in what you have to say, this will work the best.
Creating a Patreon for your podcast listeners is the simplest method to set up a membership plan.  Members of this membership website get access to additional or unique material.  Your audience may listen to longer podcast episodes or even more full-length ones for a monthly price.
It takes a lot of effort to produce all this additional material for Patreon members, but because it's a monthly subscription, you can make a respectable living doing it.
5.Marketing digital goods and services
Making and selling digital goods might be a lucrative endeavour, depending on the subjects you cover in your podcast.  The fact that digital items are relatively low-risk is their strongest feature.  After creating anything, you may sell it as much as you wish, and you are not required to purchase inventory.
Consider what items your audience could find beneficial.  Since your listeners will already be interested in something, you have the highest opportunity of selling something related to your podcast.  For instance, you may make downloadable notebooks or habit trackers if your podcast is about improving oneself.
You may also provide services if you are unable to come up with something that matches your speciality.  Other podcasters might benefit greatly from your expertise using Photoshop to create banners or modify audio files.  Start marketing your services by listing them on websites such as Fiverr.

6. Contributions
Podcasts are often entirely free to listen to.  Therefore, you may encourage your audience to help you by making a donation if you're offering value.
You may register on websites such as Buy Me a Coffee or Ko-Fi to begin collecting contributions.  These websites facilitate the collection of fan contributions for artists.  You may also make a link to a PayPal contribution so that others can send money straight to your PayPal account.
7. Use your podcast material again
You may start making money in a variety of ways by leveraging your podcast material on other sites.
For instance, you may post a video to YouTube if you record it concurrently with your podcast.  You're diversifying your revenue since YouTube offers a wide range of revenue-generating opportunities.  To increase your audience even faster, you may post short clips of your video to other social media platforms like Instagram and TikTok.
You may even broadcast your podcast episodes on Twitch if they are lengthy or you want to include audience participation.  For further advice, see our dedicated tutorial on Twitch revenue generation.
8. Offer goods for sale
You'll need a sizable and active following if you want to sell podcast products.  Unless they really like the program, no one wants to purchase something with your brand, the name of your podcast, or a catchphrase you often employ.
Producing high-quality goods is also crucial.  Don't let folks down if they are purchasing your stuff in support of your show.
9. Provide consultations for podcasts

It takes a lot of time and work to plan, record, edit, and market a podcast.  You may then begin marketing your talents after you've reached a stage where you're sure you can produce fantastic podcast episodes.
You might position yourself as the ideal candidate to recruit, whether they are new podcasters or are looking to outsource certain tasks.  It should be quite simple to coordinate this with your university work since the most of it will be freelancing.
10. Produce an eBook or audio course.
You can assist aspiring podcasters in their endeavours if you possess all of these abilities.  What lessons did you pick up along the way?  What would you want to have known in the beginning?  Which strategies have you discovered to be most effective for making money out of your podcast?
Although creating an eBook or a podcasting course might be quite labour-intensive, there is actual financial gain to be had.  Additionally, you may earn money while you sleep since it's a passive revenue stream!  You may sell the course and eBook indefinitely once they are produced.
If the industry changes, be sure to update your eBook or course appropriately so that your clients may benefit from it.
11. Work as a podcast producer full-time.
Although starting a podcast while in college might be a lucrative pastime, did you realise that it may open up even more chances down the road?  Companies constantly seek out podcast producers, and it will also look fantastic on your resume.
The average pay for podcast producers is around £36,000, according Glassdoor.  It's a nice aim to strive towards, even if the initial income will probably be less than that.