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In this episode you‘re going to discover:
- Can you make a living podcasting?
- Is podcasting profitable?
- How many downloads does the average podcast get?
- How much does Joe Rogan make per episode?
- What is the most successful podcast?
- How do I grow my podcast audience?
Making Money with Sponsored Podcast Episodes
$50 CPM x 100,000 = 50 x 100 = $5,000 per sponsor per episode
$75 CPM x 100,000 = $7,500 per sponsor per episode
$100 CPM x 100,000 = $10,000 per sponsor per episode
Making Money by Selling Online Courses On Your Podcast
100,000 downloads -> 20,000 clicks to website -> 8,000 Optins (40%) -> 4,800 Webinar Attendees (60%) -> Webinar Close Rate 3% on $997 product -> 144 Sales x $997 = $143,568
Welcome to the show. Today I want to talk about how much do podcasters make and if this is the first episode on this show that you're hearing, please go on iTunes and subscribe and leave a five star rating if you get value out of it. So why am I talking about podcasting?
As you might know, this is a podcast and I host it because it's fun, but it also can generate a huge amount of money. So this is not my first podcast and I made last year around 40,000 euros every single month with my podcast without ever advertising it.
So I didn't use Facebook ads, I didn't use my YouTube channel, I didn't use anything except for my podcast to generate this kind of income. And I did this all by selling online courses, not by sponsoring episodes of stuff, right?
So this is what this whole episode is focusing on, this one topic. So what you're going to learn are a couple of things.
First of all, can you make a living podcasting or is podcasting actually profitable? And hint, it is. How many downloads does the average podcast get?
Next one, how much does Joe Rogan make per episode? That's a question that gets asked a lot because he's in the top 0.1% of all podcasts. And me, myself, I was in the top 20 of the podcasts in Europe with my podcast. It's pretty easy if you know how to get there. So this is what I'm showing you today.
Next off, what's the most successful podcasts or where can I find the most successful podcasts that I can model? After that, I'm going to talk about how you actually grow your podcast audience. So that's it. That's what I'm going to talk about.
So can you make a living with podcasting? Yes, you can and there are a few different models that you can use. You can combine them. It's almost like when you're starting a YouTube channel or something. It's just a way to generate some traffic for your products, generate traffic for brand deals and just to build an audience, people who love you. Let's say you can build your 1,000 true fans with podcasting.
That's it. That's the whole concept. And why is podcasting so profitable? It is so profitable because you are just two centimeters away from the brain of your listeners, right? And people who have the podcast app installed on their phone are usually smart phone users and most of the people use Apple products, right?
So Apple products are the most expensive ones right now. So if you have the top iPhone with the top specs and everything, some even cost almost $2,000, right? So it's insane.
So people listening to podcasts usually have more money than people on YouTube or on blogs, right? So blogs can read everyone, everyone can read blogs and not everybody can go to Apple podcast and subscribe to your podcast or something, right?
That's the main reason why it's more profitable because there's more buying power, right? And if you have a niche that you are focused in and you have a topic that you're constantly publishing about, then you create a passionate audience and the audience starts to love you and you share your great content for them.
And soon you will have like, let's say, 500 subscribers or something. That's enough to make 10 grand a month, right? Because those people are hungry to buy from you because this reciprocity kicks in. That's a mental trigger.
That's, hey, I gave you something for free. Now people think that they have to give you something in return. And of course, that's by signing up for a webinar or going on a webpage, watching a video sales letter or enrolling in your course or something. And that's the whole model.
So you basically just generate some traffic and then you direct the traffic in places where you can make money. So just by making a podcast or making a YouTube channel, you won't make any money. That's it. Period.
You won't make money doing anything that generates traffic as long as you have a product or a service to sell. So what some people are doing are like sponsored episodes, they have some brand deals and they say, hey, can you make a podcast episode?
And then we pay you, let's say $5,000 or something for an episode. And I'll get into it right in a couple of minutes.
So the average podcast, if you go from the best one to the just one starting out, I noticed around 1,600 downloads per month. So that's okay. And if you're just starting out, you can make money off of that because that's some kind of traffic.
And if you, I would recommend that you're doing, when you first starting out, like a 30 day challenge where you publish every single day. Not only to find your voice, but to get some listens in and just go from there, right.
Because when you do it like 30 times, you will get good because in the beginning you are so bad you can't even record your podcast episode right. And then you just sit there and cry because you won't get it to work.
So the technical barrier at the beginning is a little bit higher than starting, let's say a YouTube channel or something because it's more technical. But it doesn't have to be, you can use an app like Anchor or something where you can just use your phone and start recording with your phone.
But if you want to improve quality, there's just a few things that you need to consider. And I make a dedicated episode about podcasting equipment in the next episode so you can too make a successful podcast.
So what many people are asking is how, how much does Joe Rogan make per episode? Because he's one of the biggest podcasts hosts available in the US right.
So I did some research and I found out that he's publishing around five times a week and he's roughly making $30,000 per episode. So if you do 30K times five, he's making 150 grand a week. So he's making like 600 grand a month or something.
And that's insane, right? So this is the absolute elite and I think he could make even more if he's doing something like selling a special online course with high ticket coaching and stuff just from making this episode.
So I will go into the sponsored episodes right now because some people are hearing those sponsorships and everything, but I wouldn't do them if I were you.
So it just makes sense. If you, let's say getting 100,000 downloads in month, then it makes absolutely sense to do this because if you have like a really targeted audience. Let's say you are doing something for consultants or something, then you can get a CPM.
That's cost per mil. So cost per 1,000, and it means cost per 1,000 downloads. So if you make 1,000 downloads, you can expect around $100, between 50 to $100 for a sponsored episode.
And if you make 1,000, yeah you have maximum $100 made if you publish an episode with a brand deal, right? And if you make 100,000 then obviously you make $10,000 with a single episode, but to get to 100,000 downloads, it's crazy. Crazy, crazy, crazy.
But you don't need to have 100,000 downloads to make $10,000 right? So you can just sell online courses and I get to that right now. So if you're having 100,000 downloads, if you get to that number right, don't do just those sponsored episodes.
Think about sponsoring your own episodes with ads for your own product, because I make a breakdown. First, now you have to listen. 100,000 downloads will create around, let's say 20% clicks to a website. So you say, hey, go to the show notes, sign up for whatever, or watch the video, sign up for the webinar.
Then you get 20,000 clicks and my average opt-in rate across all my registration pages is around 40% for this kind of traffic. Sometimes even more because it's warmer traffic.
Let's say I post something on my YouTube channel, I get around 80% of opt-ins because the audience is warm and loves me and everything, and it's very targeted, right?
So I used a lower number, so you get 8,000 opt-ins out of those 20,000 clicks. When I'm signing people up for a webinar, I get around 60% attendance.
That means out of those people who are now leads or opted into my webinar, 60% of those people are now watching my webinar and stay, right? So that's the key metric here. And then we have 4,800 people watching the webinar.
And usually you, if you start out a webinar or something, usually the conversion rate for a 997, so a $997 product will be around 1% if you stuck. But you can optimize that and get through 3%, some people go even to 5 or 7% but I just stick here with a 3%. It's an average. So I see across the board, people get always like 3%.
So I take this one for a $997 product, and that means 4,800 people are watching the webinar. 3% out of those are buying. That's 144 sales, times $997 is $143,568 with those 100,000 clicks, downloads that you get from your podcast, right?
So instead of just making $10,000 with this 100,000 downloads from the episode, we make 14 times the money, 14 times 0.3 actually. So I would just switch the model and sponsor myself and create a webinar with a online course or something.
And that's the whole difference. This is crazy and now just think about it. Just doing 1,000, just 1,000 downloads. Think about what it can do for you. So you're still making like $1,400 or something with those sales and views and 1,000 downloads are very easy to get. So because the average gets like 1,600 right?
So just plug in your numbers and you'll see a rough estimate of what you're getting, right? So that's the big key here. So if you combine all that, of course it gets better, right?
So if you create one product and one webinar, then your whole mission is just to create new content for your audience and link people to your webinar or video sales letter or your online course and then you can make money.
So the whole thing that you're doing is just generating traffic but never generate traffic first. Always think about creating the product first and then selling it to your audience. So what I like to do, that I don't have to create the product in the first place. But I validate before if it's even selling.
So I do like a waiting list and I have a whole episode on this podcast about the waiting list strategy. And so if you're creating a waiting lists, you can focus on creating traffic first and gathering all these subscribers on your email list, lining up for your product with credit cards in hands because they want to buy this stuff and watch your webinar or something.
And you could do the two, right? So you can see if your product is selling before you even sell it, right? And you're just collecting fresh leads.
So the next thing is what is the most successful podcast? And I can't answer you this question directly because it's always changing. And what I like to do is when I want to do competitive research on podcasting or whatever, or on YouTube or wherever I do competitive research, I just go onto trends or charts or something.
And in terms of podcasts, it's just podcast charts. And then I go into the niche podcasting in, let's say, business or personal growth or something. And then I just see what are the top 200 or something. And I just go further.
I just look around what the most successful podcasts were. And then I just see who were the guests, who can I invite and everything. And now that I know what the most successful podcasts are, now I can grow that audience, right?
So next question is how do we grow my podcast audience? And it's easy, right? There are three different ways I like to use. First one is guest interviewing.
So I go out there and I collect all those people who were on podcasts of my competitors and I invite them to my show. So you can do this when you have like 30 episodes or something so that you can provide value for your guests.
Because when you have like only three episodes, nobody would come to your show, right? That's key here. So just create like 30 episodes or something, do your 30 day challenge first and then contact a bunch of guest speakers in your niche.
That's important. It should never be some random speaker just because he has a podcast on iTunes and has a lot of downloads. Make it very niche and targeted.
Next one is I’m promoting with with an email list so you can get solo ads or something if you have no email list, but if you have an email list start promoting your podcast right away with your email list. Send every episode to your email list.
It’s A, great value for them. And B, you’ll get ranked very fast. And that’s how I got from a zero to, I think I was on position 17 or something in the Euro podcasting space for business. And within three days or something, because I had my email list, I sent out an email. Hey, go subscribe.
And what I did was a giveaway. That’s it. I said, hey, I’m launching this new thing and if you give my podcast a five star review and rating and everything, you will enter to win a free course or something, right, on a topic that my list was interested in.
And I got like on the first day, I think I got like 50 reviews or something and I shoot up out of nothing.
So last thing I see all the time with all the great podcasters is they are hosting video podcasts. So they go on YouTube and are doing first the YouTube video interviewing somebody.
Then they rip out the audio and then post it on iTunes and everywhere. And they have in the YouTube description, a link to the iTunes podcast and vice versa. And amazing, amazing thing.
So if you like this episode and you’re thinking now of creating, launching and selling your own online course, you can sign up for the waiting list and see I practice what I preach.
And then right now I’m preparing a free workshop for you where you can sign up and I notify you as soon as we go live. So that’s it for this episode.
In the next episode, I’m going to show you my podcast equipment that I use in this year right now, and that you’re hearing right now too, and what I use when I’m on the go and everything. So see you then. Bye bye.