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We will cover how to effectively monetize your podcasts with Paid Subscriptions or Premium Podcasts.
Steps for Skill Mastery:
Premium content, in the podcasting world, is an extra episode that isn't available on your normal podcast feed.
As you know, Podcasting is generally considered a free-of-charge medium. You jump on Apple Podcasts or Google Podcasts and subscribe to any one of thousands of shows, all for free. We’re used to that, and that’s how you build your own squad of fanatical fans.
But, once you have that squad – those people that love what you do – then they’re often clamoring for more of the same. If you’re a weekly show, then once a week might not be enough for them!
Common premium content includes things like:
Apple Podcasts and Spotify have started allowing podcasters to create paid feeds for content like this.
Ben and Aaron, the co-hosts of Mysterious Universe, make a substantial profit form their premium content program called Mysterious Universe Plus. They charge $9/month for extra content with no ads.
Alternatively, instead of charging your listeners, you can charge your guests! Although controversial in the podcasting community, Joe Pardo charges his guests $500 to $3,000 per episode on The Business Podcast. Joe’s reasoning why guest should pay him is the same as why podcasters get paid by sponsors: it’s exposure to his audience.
If you use this strategy, you’ll want to make sure that your podcast episodes don’t end up sounding like one long ad. For ethical reasons and to maintain the trust of your fans, you’ll want to be upfront to your audience about your business arrangements.
Answer the following questions to get started:
Always remember to decide if this is the best way to monetize your podcast
Demonstrate mastery of the knowledge and skills presented in this lesson by applying it to the above activity. If, and only if, you have a full understanding and have mastered the knowledge and skills presented in this lesson, select the next lesson in the navigation.
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