There are many ways to monetize a podcast but more than likely you are focused on what mainstream media presents to you as the options of traditional advertising. This style of traditional advertising includes commercial placements, advertisement reads, and exclusive sponsorship offers. These options can be lucrative. These options require a captured audience.
Commercial Placement: A commercial placement is when a business buys a commercial spot on your show. You will negotiate with the business the number of commercials to play per episode, where the commercial/s will play in the episode/s, and the length of commercial spots. The variations and options you provide a business are ways to better customize their commercial/s for the best impact.
For Example: most buyers would like their commercial as early as possible on a podcast with no context given. Whereas if you have a commercial advertisement from an auto dealership and have a weekly segment on cars coupling that commercial after the car segment is very effective.
The business provides a commercial for you to place into your show’s episode with a commercial placement. It is your responsibility to review the quality and content of the commercial to ensure it best represents what you would like for your audience. For Example: If your show will post after a date highlighted in the commercial that is a production error that could be costly.
Advertisement Reads: An advertisement read is when a business buys a commercial spot where you will read their commercial script. Similar to commercial placements script length, commercial placement, commercial content/verbiage, and amount of episodes for the advertisement read must be agreed upon and negotiated.
Exclusive Sponsorship: An exclusive sponsorship is when a business or organization will sponsor a full episode/s or segments whereas no other commercial placements or advertisement reads will be available. In an exclusive sponsorship, the sponsor will buy the access to be the only advertiser making their business exclusive. Details for an exclusive sponsorship must be written out contractually as to what will be provided between both business parties.
For Example: If the My Natural Hair podcast accepted Carol’s Daughter as an exclusive sponsor for a show on wash and go styles Carol’s Daughter commercial placement, advertisement read, and mention of Carol’s Daughter’s conditioner is the official conditioner of the ‘My Natural Hair’ podcast.
All three of the traditional advertising options are most popular with terrestrial broadcast radio and broadcast television. Therefore the metrics of success are provided through Nielson rating systems. This approach to quantifying the success of a show (programming) relies on reach advertisement. The reach is believed to capture the attention of the target audience of a business because of the massive audience reach. Hence if 300 million people are watching the Super Bowl broadcast it’s believed of those 300 million the target audience of your business will be in that group and respond to the advertisement favorably. Traditional advertisement and the massive reach approach rely heavily on the probability that the statistic of a business audience will respond when the advertisement is seen.
New Media Advertisement
New Media Advertisement expands traditional advertising into content creation. This form of advertising is the niche you could provide a business that traditional advertisement can’t. Leaning into your weakness can create your biggest strength. Lack of audience provides your show a blank canvas to create dynamic content that will be creative and engaging for your advertisers to use.
The advent of social media has created a reality where insurance agents, laundromats, optometrists, and every other business shares platforms for attention from the general public. New Media Advertising provides business owners and organization leaders with the opportunity to partner with you for your skillsets and talents to assist in their social media content creation.
Content Creation & Partnership: Content Creation & Partnership is when you create a content creation calendar whereas your show will create inclusive advertisements where the products and/or services of the advertising business/organization to be featured in your show’s episode.
For Example: If you had a wine review podcast and featured Motor City Wine restaurant for a ‘Red & Romance’ segment about romantic red wines this would be content Motor City Wine would share throughout their social media as well. This could bundle photography, video, and audio intriguing your audience to come to visit Motor City Wine. For Motor City Wine this content when shared on their page is creative and in context for their restaurant.
Who you are and your voice on your show represents an audience beyond you, creating the universal you. I am Khary Frazier. In hosting the ‘Detroit is Different’ podcast the universal Khary Frazier is a Black man, native Detroiter, Detroit homeowner, master degree recipient, Detroit history enthusiast, and community activist. The collective agency of the universal me resounds in many circles. To date in hosting the Detroit is Different podcast many property developers, community organizing groups, and neighborhood associations all have expressed explicit interest in Detroit is Different support. This is the social capital I naturally possess and have strengthened over time producing the Detroit is Different podcast.
Live Podcast Event: A live podcast event can be ticketed event where you invite your listeners and provide them an opportunity to witness your podcast live. I suggest highlighting a guest, theme, segment, or fan-favorite feature to welcome a captive audience to your ticketed live event.
Live Events can be promotional events where your live podcast invites guests to attend the live tapping of your podcast at a venue that would like your audience to visit. Locations that fit the brand of your show centered around a themed episode would be most impactful for a promotional live event podcast.
For Example: ‘My Natural Hair’ podcast recorded a podcast live at African World Festival before. This fits the brand of the podcast and was done in a vendor area with natural hair care product vendors.
Listener Sponsorship: Podcast listeners develop a friendship connection to you and are waiting and willing to be engaged. Part of listener engagement can be direct listener patronage through Ca$hApp and/or PayPal. You can be creative and have fundraising goals, contests, and segments, shout out placements that match the feel and direction of your show as well.
Other monetizing options include promotional items (non-cash); eBook from your podcast content; and Patreon.