“Can Podcasts Make Money?” I am asked this question often. I have the answer. But let’s first look at an extremely popular show that is going to pay-per-listen from free.
The Ricky Gervias show, a moderately entertaining Podcast (my view) from the star of the UK’s original version of “The Office” has been so popular that it was just added to the Guinness Book of Records as the most downloaded Podcast. The show has averaged 261,670 downloads per week. The show can be listened to at the Guardian website or on iTunes. The next series of Ricky’s show will become paid at $2 per episode.
First of all, 261,670 downloads per week is outstanding. That said, I am not so sure that Ricky is going to maintain numbers that are anywhere close to this. The show isn’t really that fulfilling and it sounds a bit too off the cuff. At best, it has given me 10 minutes of entertainment.
BUT WAIT, if Ricky just keeps 5% of his current monthly downloads (he clearly has a dedicated audience)… that’s 1,046,680. 5% of that is 52,334 and at $2 per show he’ll be making $104,668 per month. Hmmmmm, not too shabby.
So, can an entertainment Podcast make money. Guess we’ll see.
Back to the original question. Yes, Podcasts can make money if they have either a large audience or are very focused on a vertical category. Here are some examples. Podclimber, a show about rock climbing, is selling sponsorships. So is Grape Radio. So are the repurposed shows from KCRW, an NPR station in LA.
Look, advertisers follow the audience. And, despite the pitiful budgets most major advertisers still place in digital media, we are seeing the early adopters make the move into Podcasting.