I keep wondering why I’m not seeing anything written about this topic. Is it a dirty little secret or am I not looking in the right places?
Here’s the real scoop. Podcasts and YouTube channels are fun and interesting to produce. But if you think they are going to be a major source of revenue for you, think again. Unless you happen to have something so unique or so needed or so spectacular that everyone wants it. But, unfortunately, for most of us, that is rare.
Yes, there is the plumber who will tell you how to fix everything or the deck person that has a billion ideas, or even the garage mechanic that tells you how to fix your car. Most of us don’t have that kind of specialized knowledge that will get us 20,000 hits per episode. So let’s get real on the numbers.
You say, “I’ll get a sponsor.” OK – what does that typically take? It takes numbers PER EPISODE that are in the 10K range. I will tell you, that is rare. Then you need a fit. And maybe, if you have something kind of out of the ordinary, you can get a sponsor for less, but it isn’t easy. And they aren’t going to come to you. You have to pitch them.
You might say, “I’ll do a YouTube channel.” OK – it’s a numbers game, too. You have to have 1000 subscribers to start. That isn’t as easy as it sounds, but it’s easier than the next qualifier. You have to have more than 4K views to get YouTube to take you on as a partner and advertise. Not that they don’t advertise with less. They do. On your site. Without your permission. But they don’t pay you for it if you don’t meet their “partner” qualifications.
So here’s the bottom line. Do a podcast or a YouTube channel, but do it for the right reasons. Not to get rich from either source.
Instead, use that source as a springboard to something else. You may want to establish your credibility in a space. You may want to get your voice out there. You may want to talk about it because it’s your passion. You may want to do it to introduce a product or service you will charge for. You may want to establish your business (which is part of the credibility reason.)
OK – those are good reasons. Just be sure you are doing it for the right reason. Don’t do it because you think you are immediately going to hit a six figure income.