010: How Much Does It REALLY Cost to Start a Podcast?
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Helping female podcasters start a podcast is something we at The Wave love to do — among all of our other amazing podcast-related skills, thank you very much! One of the most common questions we get asked is “how much does having a podcast cost?”
Sorry to say it isn’t as simple as giving you an exact figure; however, in this week’s episode, I am going to break down things more clearly into three categories:
things you absolutely should spend money on
things you don’t need to open your wallet for unless you want to
and where to save big.
You will leave with the knowledge required to create an incredible podcast on your own budget. And be sure to stick around to the end of this episode, where I will share an insider offer just for our pod pals that will save you even more money starting your pod.
Understanding the true costs and cost range of starting a podcast can be confusing. With so much information out there and so many people with podcasts ranging from your neighbor Dale recording from his studio apartment all the way to celebrities building a whole other building off the side of their house just for their podcast, it is hard to know just where we sit on that scale.
I know it can be tempting to want to know how to start a podcast for free, but if it were that simple, you wouldn’t be here listening to this episode right now.
So let’s begin with the things you should spend money on
Firstly, you want to get yourself an external microphone. You might be thinking that the headphones that came with your phone, plugged into the jack of your laptop, will do the trick, and, well, you’re not wrong. But listeners care about quality sound more than you might realize. You don’t need to strive for perfection when starting out; however, you do need to make some effort so that you’re not distracting them from the content by sounding like you’re recording from under the sea. I still don’t know how Ariel sounded so good down there.
As podcasts become more and more popular, the expectations about audio quality increase, so you need to make sure you don’t lose interest just because the audio isn’t clear.
Also! Attention spans are short. Most listen to podcasts on x1.5 speed. It is the only way to have the time to consume all the fantastic pods we love in a day! Ideally, you want people to take their time with your podcast, but realistically you need to make it count and make it work no matter the speed.
Depending on your budget, you can spend anywhere from $50 to several hundred dollars on your podcast microphone, but I think there is an intersection of cost and quality where lots of viable mic options exist. Check out my list of best podcasting microphones for under $200 here.
Next, you need to get a hosting site, which is the place you are going to upload your audio, images, and show notes. The host then distributes it out to the podcasting universe for you. Some hosting sites are very basic, giving you just the essentials, and others offer tonnes of add-ons. So pick what is right for you right now and know you can change that at any time. Depending on what you need in terms of how often you want to release an episode, how long your episodes are, and any extras you might be looking for, you are looking at around $10, $15, or $20 a month for the hosting site. Not a deal-breaker!
I can hear a few of you now: But Lauren, I found a free hosting site; why would I pay for it? We at The Wave have strong feelings as to why you should avoid sites that offer these services for free. While that might seem tempting, the reality is these sites often limit your episode length, often own the right to your content (read that fine print!), and they may have to be involved if you gain a huge following and decide to sell your show or get picked up by a network. Lastly, they usually have the final say on if and how you can monetize your podcast. So by not spending any money, you may not make any either.
Lastly, we strongly recommend building a website for your podcast as it is the best way to help it get discovered. Since the podcast directories are notoriously bad at discovery, a website will help you out because Google is great at discovery.
You can build your podcast yourself very easily with various sites for anywhere between $20 a year to $20 a month, or you can decide to pay a professional to build it for you. Either way, the investment will pay for itself.
Now onto the things you don’t need to spend money on
Especially if you are going for a low-cost podcast setup, you should know those fancy headphones are unnecessary. I know we mentioned the whole using the headphones from your phone as a no-no, but that is for the mic quality. When it comes to the headphones, plugging those into your microphone is just fine!
Cover art for your podcast should be on brand and eye-catching and the title should be clear. But that in no way means you need to spend money on it. Canva provides striking but legible design templates for free. You can read more about creating your own attention-grabbing cover art in our blog post here.
Your theme music might be something you haven’t even thought of yet, but that’s okay because I’ve thought about it for you! There are loads of free music resources out there, where you can search for the tone you are going for and choose your podcast’s tune. Want access to the best free music sites to download from? We’ve got you here.
Lastly, let’s cover the thing you might want to consider spending money on
A podcast editor is not essential if you want to do this yourself, but if you have never edited or produced audio before, this may be more of a time commitment than you are willing to give.
While paying someone to do this can be on the expensive side of things, hiring an editor might be the best way for you to grow your show. When you free up your time from editing, you can then put that back into all the growth and marketing activities you need to spread the word about your show, like being a guest on other podcasts, pitching your show to publications, and sharing awesome content on social media.
Do you know about The Wave’s Editing Services? That’s right, look no further for women looking out for women podcasters and great package deals to suit any budget!
✦ Bonus Tip!
As promised, I have one last bonus for you for being a fan of what we do. I JUST updated our 2022 Guide to the Best Tools and Apps for Podcasters. It has my favorite hosting platform, remote recording site, and audiogram maker with discounts to all of them. Download now for free using this link.
✦ Let’s review!
When it comes to budgeting for your podcast, here’s what you need to remember:
You want to invest in your external microphone, your hosting site (read the fine print!) and your website - FUN!
You shouldn’t have to pay for fancy headphones, cover art or your theme music when you can get all that, in high quality, for free!
If you had it in your budget, you could pay for a podcast editor which in my opinion pays for itself and then some!
Most of us have a goal for our podcast to build an audience, bring awareness to our company or brand, and build something bigger than ourselves, but if we’re not willing to invest, we likely won’t see the return we want.
Choosing where to spend your money wisely can take you to where you want to be without breaking the bank and will help take the stress out of your podcast creation, keeping it the fun you had envisioned from the start. Nice!
Computer-Generated Transcript with Time Stamps
[00:00:00] Many people will tell you that you can start a podcast for free with no money at all. And while that is technically kind of almost true, what is truly true is that you would be hard pressed to find a top charted podcast that has a budget of $0. And this episode I will share what it really costs to start a podcast. Stay tune.
[00:00:28] Hey, my name is Lauren Popish and I'm obsessed with podcasting a little meta, right. I started podcasting after a public speaking event. Gone wrong. Sparked a phobia of public speaking that almost ended my corporate career. Now I help women use podcasting to share their ideas, grow their businesses, start movements and leave their unique marks on the world.
[00:00:55] My company, the wave produces shows for some of the most [00:01:00] influential women in health, business, spirituality, beauty, and more. And in this show, I'm taking all of the strategies I've used to help my clients top the podcast charts, and I'm bringing them to you. If you're hoping to start grow. Or monetize a podcast you're in the right place.
[00:01:19] This is Podcast Like a Girl.
[00:01:28] Helping female podcasters start a podcast is something we at the wave love to do among all of our other amazing podcast related skills. Thank you very much. One of the most common questions we get asked is how much does having a podcast cost? Sorry to say, it isn't as simple as giving you an exact figure.
[00:01:50] However, in this week's episode, I'm going to break down. More clearly into three categories. First things you [00:02:00] absolutely should spend money on. Second things you don't need to open your wallet for unless you want to. And lastly, where you can save big. You'll leave with the knowledge required to create an incredible podcast on your own budget.
[00:02:15] And be sure to stick around to the end of this episode where I will share an insider offer just for our podcast pals that will save you even more money when starting your pod. Understanding the true costs and cost range of starting a podcast can be confusing with so much information out there and so many people with podcasts ranging from your neighbor Dale recording in his studio apartment, all the way to celebrities building a whole other building on the side of their house just for their podcast.
[00:02:48] It's hard to know just where we sit on that. I know it can be tempting to want to know how to start a podcast for free, but if it was that easy, folks, let me tell you, you [00:03:00] wouldn't be listening to this episode right now. So let's begin with the things you absolutely should spend money on. Firstly, you want to get yourself an external microphone.
[00:03:12] You might be thinking that the headphones that came with your phone plugged into the jack on your laptop will do the trick. And while you. Wrong, but listeners care about quality sound more than you might realize. You don't need to strive for perfection when starting out. However, you do need to make some effort so that you're not distracting them from the content by sounding like you're recording from under the sea.
[00:03:37] I still don't know how aerial sounded so dang good down there. As podcasts become more and more popular, the expectations about audio quality increases. So you need to make sure your audience doesn't lose interest just because the audio isn't clear. Also, attention spans are short. Most listeners listen to podcasts.
[00:03:59] On [00:04:00] 1.5 speed. It's the only way we have the time to consume all the fantastic pods that we love on a daily basis. Ideally, you want people to take their time with your podcast, but realistically you need to make it count and make it work no matter what the speed is. Depending on your budget, you can spend anywhere from $50 to several hundred dollars on your podcast microphone, but I believe there's a sweet spot of cost effectiveness and quality.
[00:04:30] Check out my list of the best podcasting microphones for under $200 using the link in our show notes. Next, you need to get a hosting site, which is the place where you're going to. Upload your audio images and show notes. The host then distributes it out to the podcast universe for you. Some hosting platforms are very basic, giving you just the essentials, and others offer tons of add-ons.
[00:04:58] So pick what's right [00:05:00] for you. Your technical know how, your comfort level and know you can always change your host at any time. Depending on what you need in terms of how often you wanna release episodes, how long your episodes are, and any extras you might want, You're looking at around 10, 15, $20 a month for a hosting platform.
[00:05:21] Not a deal breaker at all. Now, I can hear a few of you right now in your heads, you're saying, but Lauren, I found a hosting site that is free. Why would I pay for it? Well, we at the Wave have strong feelings as to why you should avoid sites that offer. These kinds of hosting services for free. While they might seem tempting, the reality is is that these sites often limit your episode length, often own the rights to your content.
[00:05:50] Hint, hint, read the fine print, and they may have to be involved if you gain a huge following and decide to sell your show or get picked up by a network. Lastly, they [00:06:00] usually have the. Say on if and how you can monetize your podcast. So by not spending any money, you may not be making any money either.
[00:06:13] Hey there, I'm taking a quick break to tell you about a free workshop next week that I'm attending, and I hope you will too. Jeremy Enns, founder of Counterweight Creative and The Podcast Marketing Academy gave a special presentation to The Wave community just a few weeks ago about how to build daily habits that will lead to podcast growth.
[00:06:39] Well, starting September 27th, he's hosting a three day workshop on the same topic, diving deep into the one to five minute tasks that you can complete every day that will engage your target listener, improve your marketing content, and help you build the network you need to spread the word about your show.
[00:06:59] Sign [00:07:00] up for Jeremy's free three day workshop using the link in our show notes and learn how to shift your habits in three areas of your creative practice to get more growth from the time you are already investing. I'll be there on September 27th through the 29th, and I hope to see you there. Now, back to the show.
[00:07:23] Lastly, in terms of cost, we do recommend building a website for your podcast. We have a whole other episode on this. If you wanna listen to it, A website for your podcast is the best way to help it get discovered online. Since the podcast directories are notoriously bad at discovery, a website can help you out.
[00:07:44] Google is great at discoverability. You can build a podcast yourself very easily with various sites that cost you anywhere between $20 a year to $20 a month, or you can decide to pay a professional to help you [00:08:00] out. Either way, the investment is worth it and will pay for itself through the discoverability that it brings to your.
[00:08:07] Now onto the things that you just don't need to spend money on, especially if you're going for a low cost podcast setup, you should know that those fancy headphones aren't totally needed. I know I mentioned the whole, using the headphones from your phone is a no-no thing, but that's for the mic quality when it comes to the headphones plugging in those white little headphones that come with your iPhone into your microphone and using it so you can hear yourself in your guests.
[00:08:36] Is perfectly fine. The other thing that you can save on is cover art for your podcast. It should obviously be on brand and eyecatching, and the title should be very clear. I love to talk about a legible cover art, and that is true, but that in no way means that you need to spend a bunch of money on it or any money for that matter.
[00:08:57] Canva provides [00:09:00] striking, but legible design templates for free. You can read more about creating. Own attention grabbing cover art in our blog post, in our show notes. And lastly, your theme music might be something you haven't even thought of yet, but that's okay because I've thought about it for you.
[00:09:17] There are loads of free music resources out there where you can search for your tone and your style. You can even search by instrument and choose the right song for your podcasts. If you wanna access the best free music sites to download from, we've got you. Again. Check out the show notes, so many goodies in there.
[00:09:38] Lastly, let's cover the things that you might consider spending money on. You don't have to, but you could. A podcast. Editor is not essential if you're wanting to do it yourself. You really like editing. You have a bit of a technical background, but if you have never edited or produced audio before, this may be more of a time commitment.
[00:09:59] Then you're [00:10:00] willing to give while paying someone can be on the expensive side of things, especially compared to all the other items that we talked about today. Hiring an. Might be the best way for you to grow your show. When you free up your time from editing, you can then put that back into all of the growth and marketing activities you need to spread the word about your show, like being a guest on other people's podcasts, pitching your show to publications, and sharing awesome content on social media.
[00:10:30] In other words, hiring an editor could be the thing that allows your show to flourish and is often worth the cost. You might not know, but the Wave actually has our own post production editing team. We help women edit their shows, and our entire production team is also female. So look no further for women looking out for other podcasting women, and we have great deals and packages that suit most budgets.
[00:10:57] As promised, I have one last bonus for you [00:11:00] for being a fan of what we do. I just updated our 2022 Guide to the best tools and apps for podcasters. It has my favorite hosting platform, remote recording site, and audiogram maker with. Discounts to all of them. Download it now for free using the link in our show notes.
[00:11:21] Again, back to those show notes. So when it comes to budgeting for your podcast, here's what you need to remember. One, you wanna invest in your external microphone, your hosting site. Again, read the fine print and your website fun. Two, you shouldn't have to pay for fancy headphones, cover art or theme music when you can get all of that in a very high quality, FO free three.
[00:11:48] If you had it in your budget, you could pay for a podcast editor, which in my opinion, pays for itself. And then, Most of us have a goal for our podcast. That's why we made it, [00:12:00] and it's to build an audience, bring awareness to our company or brand, and build something bigger than ourselves. But if we're not willing to invest, we likely won't see the return that we want.
[00:12:11] Choosing where to spend your money wisely can take you to where you wanna be without breaking the bank, and will help take the stress out of your podcast creation, keeping it the fun activity you had envisioned from the very start. Nice. See you back next week.
[00:12:33] That's all for today, Pod Broads. This show is produced by the team at The Wave Editing. Lauren deborah writes our scripts. Iva does the mixing and editing. Our cover art was designed by the team at KAR Creative and our theme music was written, performed, and produced by Isaac Joel. Thanks for listening, keep podcasting, and enjoy the ride.[00:13:00]
[00:13:06] I know just how many podcasts you could have been listening to, which is why I'm so grateful you decided to spend the last 20 minutes with me. Speaking of time, if you're a podcaster and you've ever wondered what else you could be doing with your week if you didn't have to edit, write show notes, and create marketing materials for every podcast episode, then let the lady pros at the wave treat you to some me time.
[00:13:32] Get 15% off your first month of a production package. By going to thewavepodcasting.com/podcast-editing-services and enter podcastlikeagirl, all one word lowercase at checkout. Now the only question is which podcast you're gonna spend all your new found time binging. See you back next week.[00:14:00]
