8 ways smaller newsrooms can make audio pay

What's New in Publishing 28 Jun 2021 07:30

Proven tactics to monetize audio and make money from podcasts

As advertising reliance becomes an increasingly redundant, risky and outdated strategy, it is incumbent on publishers large and small to implement strategies which generate revenue from multiple sources.

This need is recognized by many industry leaders. A recent survey of media executives by the Reuters Institute for the Study of Journalism at Oxford University revealed “publishers say that, on average, four different revenue streams will be important or very important this year.”

There are lots of potential ideas to choose from. Last summer, I identified 231 ways to make media pay. My research offered hyperlinked examples across 12 verticals, including advertising and sponsorship, content, business models, partnerships and e-commerce.

So, which of these approaches are applicable to audio, and in particular podcasts, perhaps the most popular audio product that newsrooms are exploring?

Here are eight ways to get started:

1. Lean into scarcity with direct ad sales

8. Encourage donations from your audience 

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Reuters Institute for the Study of Journalism
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