Looking for ways to make money with podcasts? The podcast industry has been growing at a fast pace in the past few years and that opened up a lot of opportunities in this space. Here are a few options to consider to start making money with your podcast:
With Affiliate Sales, you earn a commission by selling other people's products or services. They provide you an affiliate link which you will use to promote in your podcast.
Different from the Ads model, if you're not a mainstream podcast and work with a specific niche you can still make money out of it by selling targeted products for your audience.
The premium content model you charge for the extra content produced by yourself that you won't provide in your free podcast. There are many options to do that. Let's take a look in some of them:
One way podcasters are monetizing is through audio courses. This is a great venue for people who like to learn on the go and don't have time to sit in front of the computer to watch a video course.
Ebooks and Audio Books
Not only this is a great way to make money with your podcast, but also to build authority. You can use your podcast to make your initial sales and get reviews to help your book stand out.
Engaging the audience makes them feel part of a community. There are different ways to engage with the audience, like creating premium Q&A episodes, or selling packages of X number of live sessions they can participate. Depending on how big is the attendance you can also charge to have comments read during the live session.
If you're interviewing a well-know guest or creating a more in-depth lesson about a certain topic you can choose to charge for that episode and maybe only provide a teaser episode in your free podcast.
There are many options when it comes to premium content, and you can pick the one who fits better with the type of content you talk about.
There are multiple options you can consider when it comes to charging a monthly fee. You can give early access to content, ad-free episodes, or exclusive bonus episodes. Usually, you transition your audience from your free, ad-supported podcast to your paid offering.
According to Patreon, the conversion rate averages between 1% to 5%. Here's their practical example on their blog post:
Not all 4,500 of those individuals will become patrons, in fact, typically 1–5% of those fans might convert to patrons (in this case, 45–225 people).
Now, let’s say that creator has reward tiers that are valued at $2, $5, $10, $25, and $100. If most patrons pledge $2–10, it’s likely the average patron will pay roughly $7. The creator could hope to earn $315 on the low end and $1575 on the high end following the first promotion of their page. 
Advertising and Sponsorship
When you think about monetizing podcasts, probably this is the first thing that comes to your mind, although this model can only generate a decent amount of money if you have a massive audience. In other words, unless you’ve already built a large audience and your downloads are way above the average, you should consider other options to add to your portfolio besides advertising.
In the advertising model, brands pay you based on CPM (cost per mile). That means for every thousand impressions, you get paid the CPM rate. The average CPM values in the market are:
There are more than 850,000 active podcasts and this number is growing quickly. Competition is very stiff and without an existing massive audience, relying solely on this model might be challenging.
There are many options to make money out of your podcasts. Each one can be more or less effective based on what stage you are in terms of building your audience and what type of topics you cover in your podcast.
Whether you're considering creating audio courses, sell audiobooks, provide premium content, or start a subscription model, Feedcast can help you to get there and receive the money for your content. Contact us through our email form and tell us your story.
 Patreon — Figuring Out How Much You Might Make on Patreon
 Advertisecast — Podcast Advertising Rates 2020