£100k from your podcast? Forbes' ridiculous monetisation advice!
Wanna make £100k from your podcast in one hit? While the idea sounds alluring, this episode analyses a Forbes article from Kristen Bousquet that suggests various monetisation strategies, some of which might leave you 'lolling' hard. I know we were!
https://www.forbes.com/sites/kristenbousquet/article/how-to-make-money-podcasting/
Amelia Knight summarises the article's advice on sponsorships, paid subscriptions, and selling your own products.
However, she also pokes fun at some outlandish claims, like how podcasters could effortlessly rake in six figures.
Companies mentioned in this episode:
- Forbes
- Netflix
- Piers Morgan
- Joe Rogan
- Oprah
Mentioned in this episode:
A Podknows Production
Podknows helps brands and creators to build their podcasts into virtual sales and marketing teams which get them results even when they're sleeping. Find out more at https://podknows.co.uk/
This podcast uses the following third-party services for analysis:
Podder - https://www.podderapp.com/privacy-policy
Transcript
Wanna make 100k from your podcast in one hit?
Speaker A:Well, we're about to share some insights that we read in an article that claims you can do that.
Speaker A:This is the Podmaster, the podcast with insights and tips.
Speaker A:The podcasters everywhere, whether doing this for a brand or as an indie pro or newbie.
Speaker A:And in this quick episode, we're talking about a Forbes article on podcast monetization that's got both Podnose Neil and myself slightly nodding in agreement and hugely laughing into our cups of builder's tea.
Speaker A:So first off, the article isn't all that bad.
Speaker A:It has got some solid advice.
Speaker A:It covers sponsorships, big podcasting's bread and butter.
Speaker A:It covers paid subscriptions, which can be a boon if you got a loyal crowd who love what you do to sell to.
Speaker A:And it does actually mention our favorite revenue generation model here at podnos, selling your own products, whether it's courses, merch, or your unique expertise as a service.
Speaker A:Some really practical ways to turn your podcast into a business in this article, which we will link to in the description.
Speaker A:So far, so good, Forbes, but knowing you, you're probably going to disappoint us.
Speaker A:Yet sure enough, it all goes a bit off the rails.
Speaker A:Now here's our favorite laughable nugget.
Speaker A:The claim that live events could bring in a casual £100,000 to your revenue stream.
Speaker A:Look, unless you're Joe Rogan or somehow pulling Oprah out of retirement to co host with you, you're not making that kind of money at your very first event.
Speaker A:For most podcasters, even breaking even on live events is a win.
Speaker A:And here's another clue that Podnose Neil thinks means it was a ChatGPT generated article that Forbes have just published here.
Speaker A:They reckon eight ads per episode is ideal.
Speaker A:Really?
Speaker A:Eight ads in one episode?
Speaker A:Are we podcasting or recreating 90s cable television here?
Speaker A:Most listeners would throw their phone out the window after that third ad.
Speaker A:I think we all agree on that, right?
Speaker A:They're also suggesting licensing your podcast into a TV show.
Speaker A:Sure, if your name's Piers Morgan or you've stumbled into the next true crime blockbuster that some network or streaming giant wants to buy from you.
Speaker A:Perhaps for the rest of us mere podcasting mortals, maybe focus on getting consistent downloads before you start pitching Netflix.
Speaker A:Here's the thing.
Speaker A:Pod Mastery Student podcast monetization isn't about dreaming big right off the bat.
Speaker A:It's about starting small and building sustainable revenue streams.
Speaker A:Sponsorships, affiliate marketing, memberships, and selling yourself is a longer game, but it's definitely more sustainable don't let overblown promises from generic publishers distract you from the graft.
Speaker A:That's all for today's episode of the Podmaster.
Speaker A:If you've got a laughable podcast myth or tip that you've fallen for in the past, drop us a message through the website.
Speaker A:Go to Podmastery Co, contact.
Speaker A:We'll all have a giggle about it and and maybe feature it in a future episode.
Speaker A:Thanks for listening.
Speaker A:Don't forget to visit Podmastery Co for more podcasting tips.
Speaker A:And look out for the next fun episode in your library really soon.
Speaker A:The Podmaster is a Podnos podcasting production.
Speaker A:Find out more about us@podnos.co.uk that's P O-kn O-W-S.co.uk podnos.
