The Truths About Podcast Monetization
Some interesting results from a study done by Improve Podcasts, conducted as an online survey in Q1 2021 and received responses from 1,076 people who self-identified as podcasters, the majority of whom were located in the U.S.
Why I want to spotlight this study is this - many of the podcasting statistics were surprising. But also shed a lot of light on the current state of podcasting, and points toward new future trends.
Here are the TOP 12 Actionable Highlights, Trends, and Podcasting Statistics.
Podcasting is a MARATHON, not a sprint. Be patient, take action and apply yourself.
Let’s talk about what podcasting can do for your business in the next 12-months. Whether you’re B2C or B2B, we can create a content marketing strategy that will work for you.
Connect with me if you would like to talk more about this. My calendar is available on my Circle270Media Podcast Consultants business website at circle270media.com
Subscribe to my free Open The Mic and Speak Newsletter. It’s chock full of podcast news you may have missed, as well as social media, sales, and audio production tips, and insights on how to grow your business podcast.
Recorded in conjunction with Channel 511, in the Brewery District, downtown Columbus, OH.
Brett Johnson is the owner and lead consultant at Circle270Media Podcast Consultants. With over 35+ years of experience in Marketing, Content Creation, Audio Production/Recording, and Broadcasting, the podcast consultants at Circle270Media strategically bring these strengths together for their business Podcast clients.
Email us at podcasts@circle270media.com to set up a time to talk more about your new or established business podcast.
Copyright 2024 Circle270Media Podcast Consultants
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Transcript
Why I want to spotlight this study is this - many of the podcasting statistics were surprising. But also shed a lot of light on the current state of podcasting, and points towards new future trends.
Here are the TOP 12 Actionable Highlights, Trends and Podcasting Statistics
1. There are 3 breakthrough points that show a high correlation between effort put into podcasting and financial success. Those are the number of published episodes, months of podcasting, and listeners per episode.
2. Successful podcasters are 7.7 times more likely to have over 100 episodes and 15.8 times more likely to have over 200 episodes. This confirms the long-game nature of content marketing, which requires patience and dedication.
3. Success in podcasting comes with time and experience. 69% of podcasters whose show is over 24 months old are monetizing it successfully, while 80% of lower income podcasters have shows younger than 24 months.
4. The number of listeners per episode highly correlates with podcasting success. Higher-income podcasters are 8.1 times more likely to have more than 1,000 listeners per episode. The majority of podcasters operate in a traditional publishing model, dependent on ads, and on a broad reach.
5. Publishing 1 episode per week is a sweet spot formula for the vast majority of podcasters, and 63% of successful podcasters choose this consistent publishing schedule.
6. There is no winning formula when it comes to the length of an episode. Higher-income podcasters are able to turn any length format into a success. However, for 56% of higher-income podcasters, the best performing episodes last between 40 and 120 minutes.
7. Higher-income podcasters are 1.7 times more likely to have a show addressing a very specific group of people. 90% of higher-income podcasters have spent time and are continually analyzing the target audience of their shows.
8. Higher-income podcasters are 1.7 times more likely to be active or very active in promoting their shows. 43% of lower-income podcasters are minimally active or not active at all in promoting their shows.
9. The number of used marketing channels is highly correlated with financial success. Higher-income podcasters use on average 3.6 marketing channels. This is 157% more than lower-income podcasters.
10. 53% of higher-income podcasters use more than 4 marketing channels. Higher income podcasters are 2.8 times more likely to use 4 or more marketing channels. Lower-income podcasters are 6 times more likely to use only 1 marketing channel.
11. The number 1 monetization opportunity in use by 63% of higher-income podcasters is sponsors and host-read ads. Direct contributions are used successfully by 47% of higher-income podcasters, proving the right strategy is necessary to make it work.
12. Podcasters who earn over $50,000 per year are 2.8 times more likely to have sponsorships as the main monetization channel, and 1.6 times more likely to sell their own services as their main monetization channel.
---------------------------------------------------------------- https://improvepodcast.com/podcasting-statistics-data/
Podcasting is a MARATHON, not a sprint. Be patient, take action and apply yourself.
Let’s talk about what podcasting can do for your business in the next 12-months. Whether you’re B2C or B2B, we can create a content marketing strategy that will work for you.
Connect with me if you would like to talk more about this. My calendar is available on my Circle270Media Podcast Consultants business website at circle270media.com
Subscribe to my free daily Open The Mic And Speak. It’s chock full of podcast news you may have missed, as well as social media, sales, and audio production tips, and insights on how to grow your business podcast.
