Due to the significant increase in popularity of video podcasting This article delves further into the significant medium of video podcasts. Specifically, as the eighth installment in an 11-part series, it focuses on examining the different monetization approaches companies employ with regards to video podcasts.
What’s in it for me?
At the conclusion of this section, you will have gained significant understanding on the subsequent topics:
- Companies are utilizing high-quality content to generate revenue from video podcasts.
- Businesses are utilizing sponsorships as a means to generate revenue from video podcasts.
- Companies are utilizing advertising as a means to generate revenue from video podcasts.
Overview of Video Podcast Monetization
Most company video podcasts are still not making money from their show. Our research found that only 35% of companies are intentionally creating their podcast with the aim of generating revenue.
There is a significant opportunity for brands to start making money from their corporate events if they have the capability and are willing to do so.
Currently, most brands that earn money from their corporate podcasts generate less than $1000 in monthly revenue on average.
This part of the content will explore three effective strategies that businesses are currently implementing to generate revenue successfully.
Content that is exclusive for members or subscribers who have paid is known as premium content.
Video podcasts can enhance the worth of subscriptions by presenting exclusive and high-quality content, which can encourage viewers to sustain their patronage.
What varieties of premium content are being provided by businesses?
This information may come in the shape of more episodes, footage from behind the scenes or other exclusive content that is not accessible to everyone.
As a means of earning money steadily, the podcast’s exclusive content can be made available to subscribers through a subscription format with the options of monthly or yearly fees.
How lucrative can premium content be?
According to our research, 29% of branded shows that generate revenue use high-quality content as a means to increase profits.
How challenging is it to set up your podcast?
Creating high-quality content for a video podcast can be challenging, and the level of difficulty will depend on the type of content being produced and the resources that the team has at their disposal.
Generally speaking, preparing exceptional content for a podcast involves more pre-production work and effort than producing regular episodes.
This may entail recruiting notable guests for interviews, arranging detailed conversations on particular subjects or coordinating live question and answer segments with listeners.
Initially, this task may be quite challenging, but as you establish methods for generating unique content, it gradually becomes easier.
Video podcast sponsorships involve the collaboration of a podcast with a different brand.
A podcast can receive financial support from a brand or company in return for promotional opportunities and advertising, which is referred to as a sponsorship agreement.
This may refer to instances where logos are shown or when products are advertised within an episode.
There are various methods in which organizations can consider sponsorship as an option.
Engaging in sponsorships with another brand or influencer can be straightforward, but there are various approaches that can be taken.
Here are a few:
Talking about the brand or organization during the recording of the podcast.
Platform can help increase brand awareness and promote brand recognition among listeners.
Including the logo in the podcast’s visual elements will also enhance the podcast’s overall design and professionalism.
By consistently featuring the logo, listeners will begin to associate it with the content and messaging of the podcast, potentially leading to increased loyalty and engagement with the brand.
The integration of the products from the brand into the podcast’s material.
Providing special deals or incentives for those who listen to the podcast only.
Presented by a popular influencer or celebrity can be an effective marketing strategy. It allows the brand to reach a wider audience through the influencer’s following while also benefiting from their credibility and influence.
This type of collaboration can increase brand recognition, generate traffic and sales, and ultimately lead to a strong return on investment for the company.
One way to engage with a podcast’s audience is by holding sponsored giveaways or contests. This can incentivize listeners to participate and create excitement around the podcast.
Working together with the brand to develop content or plan events under both of our names.How lucrative can sponsorships be?
According to our study, sponsorships are being utilized by 34% of monetized brand shows as a means to generate income.
How challenging is it to establish this for your podcast?
Podcasts that have a significant and involved audience have a higher probability of effortlessly gaining sponsorships from other companies.
By using their audience, they can offer favorable exposure and extensive coverage for the sponsor’s brand, making it an attractive collaboration.
Establishing the framework for sponsorships can be a time-consuming process, which may involve producing a proposal that details the advantages of teaming up with the podcast, discussing the conditions of the sponsorship, and satisfying any promotional or advertising responsibilities.
In general, this task is of moderate difficulty. The major hurdles involve identifying suitable individuals or organizations to establish connections with, successfully contacting them, and negotiating terms.
Once these obstacles are surpassed, the level of effort required decreases drastically.
Although this fact is already familiar to many, here’s a brief recap just in case: YouTube Ads can manifest as video ads, display ads, or sponsored content.
These ads are displayed to individuals who are either viewing videos on YouTube or exploring the platform. They are usually tailored according to the user’s demographic data and interests.
How can companies adopt varied strategies while dealing with YouTube Ads?
There is a single means of making money through this particular method that differs from others, and it involves displaying advertisements on the YouTube platform.
There are a few alternative advertising formats that can be employed to vary the approach.
If you have additional material for your company on YouTube, the fastest way to increase its exposure is by adding a blurb to the videos you upload on your own channel.
An effective way to advertise is by displaying targeted ads before or during other channels’ videos, which is frequently used.How lucrative can YouTube Ads be?
According to our findings, 71% of branded shows that generate income utilize YouTube advertisements as a means of boosting their earnings.
How challenging is it to arrange for your podcast?
Out of all the techniques available, this one is the most convenient to establish. The only prerequisite is that your material adheres to YouTube’s advertiser-friendly content regulations.
Once you have met this requirement, you can activate advertisements in the Monetization section of your YouTube control panel without any complications.
After completing the important initial step, you just have to arrange for the advertisements to be displayed and determine a budget.
However, the expenses may be higher compared to other techniques depending on the extent of your advertisement expenditure.