How Profitable are Podcasts?

Are podcasts profitable?Despite how long they’ve been around, Podcasts seem to be turning up more and more often now that digital communication is the norm. You may be considering starting your own, but are unsure whether or not it will pay off. Can podcasts thrive in the age of instant information? We’ve got some data for you that will help you draw your own conclusions.

A survey completed at the beginning of this year showed that 60% of people didn’t know the definition of podcasting. A mere 40% of participants had listened to a podcast in the past. A separate report released more recently stated that of the 5,700 participants polled, only 60% planned to listen to podcasts in the near future. On the other hand, 45% of that same group wanted more information about podcasting.

The number of podcasts that exist may not be increasing, but the number of podcast listeners is, thanks to Spotify, Pandora, and other music streaming services that offer audio content to their users. Between 2015 and 2017, the amount of monthly podcasts listeners rose from 17% to 24%. And soon enough, podcasters will be able to get a better idea of what their audiences enjoy.

Apple took the time at its June conference to describe the new abilities of the latest version of their podcasting app, which includes analytics. It’s been a long time coming, and Apple finally decided to provide analytics with user information which is all collected anonymously to protect the privacy of listeners.

While Facebook and Twitter gave marketing agencies enough information to appeal to their audiences, Apple lagged behind, only revealing to podcasters which audio files had been downloaded and not what had been listened to. Podcasters now have the ability to change up the style of content they create and watch how their listeners respond. Positive reactions bring in more listeners, which leads to more chances to team up with advertisers.

Many people don’t listen to podcasts simply because they don’t know what they are or where to find them, but others have tried listening to them before and haven’t been interested in the content or the way it was delivered. Podcast awareness and original content can fix these problems almost entirely. Others don’t want to seek out podcasts when they have immediate access to music and talk radio, so podcasters should focus on making their content more accessible to their audience.

If you’re having little success getting the word out about your podcast, post each new episode on your website and social media accounts. When you’re creating a new one, advertise it to the masses to make sure they know about it before it’s released. Easy subscription and tutorial videos can also help draw attention to your podcast, though these things take a bit more effort.

It’s true that podcasts aren’t the most consumed audio content available to listeners today, but that doesn’t mean they’re useless. With all the new tools available to podcasters, you can run your own and gradually obtain success.

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