The larger your audience, the more of a return you’ll see, and if you amass a particularly large listenership in an in-demand market segment, you can start charging a higher rate for ads. A podcast that averages 5,000 downloads per episode and charges $18 CPM, the industry-standard rate as of 2022, for a 30-second ad will earn $90 in ad revenue for one episode that runs a single ad. Typically, sponsorship rates are charged per thousand listeners, or CPM (cost per thousand the “M” stands for “mille,” meaning “thousand” in Latin). Once you enter into a sponsorship, those downloads still matter. Most sponsors will want you to have an audience size large enough to get at least 5,000 downloads per month (sometimes even 10,000) before they consider working with you. Potential sponsors look at your per-episode or per-month downloads to get an idea of the size of your listener base - or rather, how many people they can reach by advertising with you. In the world of podcasting, downloads are an important metric for measuring success. The key to their financial success? Making a show good enough to get all those downloads. In 2019, the duo made an estimated $15 million.
PODCASTER SALARY SERIES
The duo launched their dark-comedy true-crime series in 2016, and by 2020 the show was amassing 35 million downloads per month. Just look at Karen Kilgariff and Georgia Hardstark, the famous podcasters behind My Favorite Murder. The fact is that It takes time, effort, and dedication to start earning any money from a podcast - let alone big money - and most shows won’t make any at all. The more popular a podcast becomes, the more opportunities you’ll have for making money, such as creating online courses or selling tickets to live shows. Typically, a content creator can monetize a podcast in a few ways: through affiliate marketing and sponsorships and selling premium content and merchandise.
Perhaps you’re one of the few, the proud, who dreams of quitting your day job and getting paid to talk about your passion - or at very least, turning that passion into a steady side hustle. Maybe you’re just hoping to offset the cost of setting up a studio, or maybe you want to create new revenue streams for your budding business. Even if you’re making a podcast for the pure love of the craft, there’s probably a part of you that hopes to make at least some money in the process.
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