Podcasting has gained popularity as a global platform for sharing ideas, insights, and stories.
As the podcasting industry grows, more people are looking to start their own shows and turn their passion for podcasting into a profitable venture.
However, podcasting demands time, effort, and resources to produce quality content that attracts and retains listeners.
In this article, we will explore how much money do podcasts make and the factors that contribute to the earnings.
How Much do Podcasters Make Per Episode?
Typically, podcasters who attract around 10,000 listeners per episode can earn between $500 and $900, but the potential earnings can be much higher for very successful podcasts, with some raking in up to $30 million annually.
It’s important to note that making money podcasting depends on various factors.
For example, the size and engagement level of their audience, the type of content they produce, and their ability to secure lucrative sponsorship deals or advertising revenue.
A successful podcast with a small but dedicated audience may be able to earn a significant amount of money through crowdfunding or merchandise sales.
On the other hand, a podcast with a large audience with many listeners may be able to earn more money through advertising or affiliate marketing.
More than that, many successful podcasters go as far as selling an online course to their audience, which significantly raises their annual income.
MORE: How to grow your podcast audience
How Do Podcasters Make Money?
Successful podcasts rely on several revenue streams to make money from. The most common podcast monetization methods are:
- Advertising,
- Affiliate marketing,
- Crowdfunding,
- Merchandise sales,
- Podcast sponsorships,
- Premium content,
- Live shows,
- Email lists,
- Consulting services.
Let’s dive deeper into each of these.
Advertising
Many podcast hosts earn money by selling advertising space on their shows.
This can take the form of sponsorships, where a company pays the podcaster to mention their product or service during the show.
Alternatively, some podcasters sell pre or mid-roll ads, played before or during the podcast.
Some of the most popular podcast advertising networks include AdvertiseCast, Podcorn, and Midroll.
These networks help connect podcasters with advertisers, making it easier for them to monetize their shows.
MORE: How to write your first podcast script
Affiliate marketing
Affiliate marketing involves promoting products or services on your podcast and earning a commission for each sale from your referral.
Podcast hosts include an affiliate link in the description of their podcast, and from there their podcast audience can purchase a product through the affiliate link and usually get a discount.
Many podcasters partner with affiliate networks like Amazon Associates or ShareASale to make money through affiliate sales.
Crowdfunding
A common podcast revenue stream is actually crowdfunding. Some podcasters support their shows on crowdfunding platforms like Patreon or Kickstarter.
These platforms allow listeners to donate money to the podcaster in exchange for perks like exclusive content or merchandise.
Merchandise sales
Many podcasters sell their listeners merchandise like t-shirts, mugs, and stickers.
This not only helps them earn money but also helps to promote their podcast, develop their podcast’s brand identity and build a community of loyal fans.
Podcast sponsorships
The most successful podcasters have the possibility of getting sponsorships for their podcast.
In exchange for their support, sponsors typically receive a brief message at the beginning or end of the podcast, as well as mentioned throughout the episode.
The cost of podcast sponsorships varies based on the popularity of the podcast and the size of its audience.
They can be a highly effective marketing strategy for businesses looking to reach new customers in a more personal and engaging way.
Premium content
Premium content is another lucrative way for podcasters to generate revenue. Creating premium content involves coming up with exclusive content that is only available to paying subscribers.
Platforms like Apple Podcasts and Spotify offer options for podcasters to host premium episodes or entire series.
Subscribers might pay a monthly fee for access to ad-free episodes, bonus content, early access to new episodes, or special series that aren’t available to non-paying listeners.
This model rewards dedicated fans with unique content while providing a steady revenue stream for the creators.
Live shows
Many podcasters also explore revenue generation through live shows. Tickets are sold to audiences who want to experience the podcast live, often including interactive segments or Q&A sessions.
These live shows not only generate income through ticket sales but also enhance listener engagement and loyalty.
One example of this is the Monday Morning Podcast by Bill Burr, who sometimes hosts his shows live.
Email lists
Building and leveraging an email list is a powerful tool for podcasters. By collecting email addresses, podcasters can create a direct line of communication with their audience.
Building an email list can be used for promoting new episodes, sharing exclusive content, or even direct marketing of products, services, or events.
It’s also a useful way to gauge audience interests and preferences, helping podcasters to tailor their content and marketing strategies more effectively.
Consulting services
Many podcasters with expertise in a particular field offer consulting services. This way of making money will be especially lucrative for podcasts focusing on business, marketing, technology, and other professional areas.
The podcast itself serves as a platform to demonstrate the podcaster’s expertise, attracting clients who are willing to pay for personalized advice, coaching, or consulting services. Consulting services enhance professional credibility.
MORE: How to start a podcast
How Much Do Podcasts Make From Ads?
According to Statista, the podcast advertising revenue worldwide has gone up from 0.54 billion US dollars in 2017 to 3.46 billion US dollars in 2023.
The estimated revenue number for 2027 is 5.03 billion US dollars, which is a 1.57 billion US dollar increase in just 5 years.
These earnings data demonstrate how advertising contributes significantly to podcast revenue.
Podcast Advertising Network
As mentioned earlier, there are several advertising networks that can help podcasters monetize their shows. Here are some of the most popular podcast advertising networks:
| Advertising Network | Description |
|---|---|
| AdvertiseCast | AdvertiseCast connects podcasters with advertisers. They offer a self-service platform that makes it easy for podcasters to set up and manage their ad campaigns. |
| Podcorn | Podcorn connects podcasters with brands for sponsored content collaborations. They offer a variety of options, including host-read ads, interview segments, and more. |
| Midroll | Midroll produces high-quality ads that resonate with listeners. They work with various brands across multiple industries and offer a range of advertising options. |
MORE: 25 podcast ideas to get you started
How Long Does it Take for a Podcast to Make Money?
It can take anywhere from a couple of months to a couple of years. The time it takes for a podcast to start making money depends on factors such as the podcast’s niche, the size of the audience, the monetization strategies used, and the amount of effort put into promoting the podcast.
For instance, a podcast in a highly competitive and over-saturated niche like technology may take longer to generate revenue than a podcast in a relatively untapped niche like gardening.
Similarly, a podcast with a large and highly engaged audience may be able to monetize more quickly than a podcast with a small and scattered audience.
It’s also important to note that there are several different ways that podcasters can make money from their shows, and the time it takes to start generating revenue can vary depending on the monetization method used.
For example, podcasts that rely on advertising as their primary revenue stream typically need to build up a significant listenership before they can attract advertisers willing to pay for ad slots.
On the other hand, podcasts that use methods like sponsorships, merchandise sales, or crowdfunding may be able to start generating revenue more quickly, as they can target a smaller, more engaged audience and leverage their existing relationship with their listeners.
MORE: What equipment do you need to record your first podcast?
Highest Paid Podcasters 2024
While the income potential of a podcast can vary widely, there are some well-known examples of the top podcasts that have been highly successful at generating revenue. Here are a few examples of the top earning podcasts:
| Highest paid podcasters | Earnings |
|---|---|
| Joe Rogan | $30 million |
| Karen Kilgariff and Georgia Hardstark | $15 million |
| Dave Ramsey | $10 million |
| Dax Shepard | $9 million |
| Bill Simmons | $7 million |
| Chapo Trap Network | $2 million |
| Tim Dillon | $1.3 million |
Let’s take a closer look at each of these podcasters and their podcasts:
1. Joe Rogan with The Joe Rogan Experience
Joe Rogan’s podcast, “The Joe Rogan Experience,” is one of the most popular and influential podcasts globally. His net worth has significantly increased, especially after signing a deal with Spotify, which reportedly was worth around $200 million. Rogan’s podcast covers a wide range of topics with various guests, contributing to his substantial earnings.
Estimated Joe Rogan net worth: $120 million
2. Karen Kilgariff and Georgia Hardstark with My Favorite Murder
Karen Kilgariff and Georgia Hardstark host the true crime comedy podcast “My Favorite Murder.” Their success in the podcasting world has significantly boosted their net worth, primarily through podcast advertising revenue, live shows, and book sales. They have created a strong brand and a dedicated fan base, known as “Murderinos.”
Estimated Karen Kilgariff net worth: $20 million
Estimated Georgia Hardstark net worth: $20 million
3. Dave Ramsey with The Dave Ramsey Show
Dave Ramsey, known for “The Dave Ramsey Show,” focuses on personal finance advice. His net worth is substantial, as he has built a multi-platform financial advice empire that includes books, seminars, and the podcast. The podcast’s popularity and his various other ventures contribute to his financial success.
Estimated Dave Ramsey net worth: $200 million
4. Dax Shepard with Armchair Expert
Dax Shepard’s podcast, “Armchair Expert,” where he interviews celebrities, journalists, and academics, has become very popular. The podcast’s success, combined with Dax’s acting career, contributes to his net worth. The podcast’s unique blend of humor and in-depth conversations has attracted a wide audience from all over the world.
Estimated Dax Shepard net worth: $40 million
5. Bill Simmons with The Bill Simmons Podcast
Bill Simmons, known for “The Bill Simmons Podcast,” focuses on sports and pop culture. As the founder of The Ringer, a sports and pop culture website and podcast network acquired by Spotify, his net worth has increased significantly.
Estimated Bill Simmons net worth: $100 million
6. Chapo Trap Network with Chapo Trap House
The hosts of “Chapo Trap House,” a political comedy podcast, have seen their net worth grow due to the show’s success. They are known for their left-wing commentary and have a substantial following on platforms like Patreon, which contributes significantly to their revenue.
Estimated Chapo Trap Network net worth: over $16 million
7. Tim Dillon with The Tim Dillon Show
Comedian Tim Dillon’s podcast, “The Tim Dillon Show,” blends comedy and commentary. His net worth has been bolstered by the podcast’s success, particularly through Patreon subscriptions and live show revenues.
Estimated Tim Dillon net worth: $10 million
Takeaway Points
While it can be difficult to predict how long it will take for a podcast to grow and start generating revenue, many successful podcasts demonstrate this medium’s income potential.
By focusing on creating high-quality content, building a loyal audience, and leveraging multiple monetization methods, podcasters can increase their chances of success and potentially earn a living doing something they love.
And if you’re struggling to find the perfect name for your podcast, check out our podcast name generator. In just a few simple steps, you’ll have a memorable name for your podcast.