23. Start a Podcast
- Estimated income: $500-$10,000+/month, depending on the monetization channels and the number of downloads
- Requirements: communication, audio editing, and social media management skills
The podcast has become a popular content type. As of June 2022, there are over 380 million podcast listeners worldwide. This is an excellent time to start a podcasting business.
We recommend adopting a micro-niche concept to make your podcast stand out. One great example is The Pen Addict, a podcast focusing on pen-related topics. While the scope seems limited, this program has attracted a loyal group of enthusiasts.
Create a site to host your podcasts and upload them on Spotify and Apple Music to expand your reach. Consider establishing a social media presence to bring more potential listeners.
First-time podcasters usually earn money via affiliate marketing. Once their audience has grown, they can get sponsors, set up a Patreon page for crowdfunding, or join an advertising network like Midroll.
Anyone can start a podcast. However, having proper recording equipment will improve the podcast’s quality. Make sure to allocate a production budget to upgrade your tools and software.
