What is needed to monetize podcasts in Latin America

Podcasts in Latin America continue to look for ways to monetize their content. Photo: Getty Images (eclipse_images/)

the market of podcast in Latin America It has grown not only regionally but also globally. Data collected by the website Statista indicate that between 2017 and 2022, the number of listeners increased 400 million people reaching 647 million. Furthermore, by the year 2027, the audio content will reach 961 million listeners.

However, a problem faced by producers in Latin America is the lack of information in countries, since it is usual to find specific data of USA either Spain, who They have very different communities.

This lack of access negatively impacts producers, who find it difficult to understand the context in which they find themselves and therefore generate income.

Monetizing podcast in Latin America

infobae talked with Mariana Vaccaroproducer, editor and director of podcastersa community that brings together podcast producers from all over Latin America and Spain, about the forms that a podcaster to generate money.

“There comes a point where a person realizes that it takes a long time to produce a podcast because it is different from a live broadcast,” says the Argentine producer who also indicated one of the first ways to generate profits with the creation of this content: create a podcast production company.

“Those who know how to produce begin to offer the service to other companies and people. Several projects became production companies,” she states.

The podcast producer with which Vaccaro collaborates called Where Mediastarted as a similar project and is currently considered a success story since it has a team of workers and collaborators of 34 people including producers, engineers, designers and sound mixers from countries such as Argentina, Mexico, Colombia, Chile, Uruguay, the United States United States and even France.

Although the first way of monetization mentioned implies the “sale” of podcast as products for other companies or people, Mariana Vaccaro does not consider that this action represents a “resignation” to a certain editorial line in the production of its own content.

There are actually ways you can do the work for a third party and keep these products separate from the main podcast.

Podcast producer Adonde Media
Podcast producer Adonde Media

Vaccaro indicates that there are cases in which a podcaster You can offer a production service for independent professionals and even sell your work to companies, without including the label of your production company.

On the other hand, the director of podcasters He assured that there are similarities between the production of podcasts and other types of digital media due to the possibility of getting sponsors or paid advertising.

“Since podcasts are niche, a very intimate and loyal relationship is usually generated with their audiences. It is a very good channel for brands to target a certain audience”, he says.

The role of streaming platforms

The distribution of podcasts is not a minor aspect to take into account when talking about content monetization.

More and more companies are entering the market and giving these products adequate space for their audiences. Spotify is the most obvious case, although large companies such as Manzana and Amazon they also have this service.

(photo: Spotify)
According to the 2022 Pod Survey carried out by Podcasteros, the preferred platform for users to listen to podcasts is Spotify, with 58% of those surveyed. (photo: Spotify)

According to surveypod of the year 2022 made in Podcasteros, the preferred platform for users to listen to podcasts is Spotify with 58% of those surveyed, while others such as iVoox, Apple Podcast or Google Podcast, remain behind.

However, Youtube is interested in attracting podcast creators to generate greater diversity in the content offered on the platform with payment of USD$50,000 to finance individual podcasts and USD$200,000 to USD$300,000 in the case of podcast networks.

The market is growing and with it the interest of these platforms in having exclusive products that are attractive to hearings.

The monetization It can also come through the sale of productions to these platforms so that they can present them as part of a content grid that can only be found somewhere. website or app.

“Don’t forget that podcasts are multiplatform and can be found in many places, so offering exclusivity on a good product generates interest,” Vaccaro says.

Not only that, but it is also possible to build relationships with distribution platforms, as could be the case with Spotifyto sell the idea or project of a podcast.

Generating work with podcast production

There are several ways to join the “production line” of podcasts, because among the roles that are necessary for the growth of the market are editors, sound designers, illustratorsscriptwriters, analysts metricssometimes actors for serialized content, among many others.

The creation of content in the form of podcasts involves the integration of dedicated people such as editors, sound designers, illustrators, scriptwriters, metrics analysts, sometimes actors for serialized content, among many other roles related to podcast production. Photo: Getty Images (HEIKKI AVENT/)

All of them have the ability to integrate into projects and form part of a podcast, although before thinking about creating any type of content, it is necessary to know the audience, try to define some type of average listener profile and understand what they are interested in hearing. Although many podcast projects arise based on the interest of the producer or producer, the content has a better chance of success if it aligns with the interests of the audience.

“We asked what motivates them to pay for a subscription service and the main motivation, with 75%, was to financially support content creators. 7 out of 10 people they support the creator they like,” stated Mariana.

Some podcasts choose to provide account numbers, QR codes, or other means so their audiences can voluntarily support the people behind the content. Websites like Patreon and cafecito They are widely used, although there are others that are linked to banking entities in each country that facilitate fundraising.

Cafecito Application
Cafecito Application

some platforms streaming who are completely dedicated to the distribution of podcast content facilitate these options in their systems.

we could offers podcasts for subscription and in the case of iVooxprovides free episodes and some paid access “although I would recommend that several be offered for free to attract the audience before starting with the premium content”.

Finally, it is recommended to sell products related to a podcast, a practice that even generates more loyalty.

the options of monetization They are diverse and although many are more viable than others for certain products, it is possible to generate enough income so that a person can live from the creation of content in podcast format.