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Study Hall: How to Make Money from a Podcast · Earn Your Leisure

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  Speaker 2: So how did you make the money? A couple of
• 1:00
  Speaker 2: different ways. How you make money on the podcast and
• 1:02
  Speaker 2: your your guys specifically. So first I want to talk
• 1:04
  Speaker 2: about Patreon. Yes, Patreon is something that once again to them,
• 1:09
  Speaker 2: we didn't know anything about Patreon un till we started
• 1:11
  Speaker 2: a podcast and somebody actually put in a comment on
• 1:14
  Speaker 2: Instagram like you guys have a Patreon and like what,
• 1:18
  Speaker 2: I'm like, yo.
• 1:18
  Speaker 3: You know what Patreon is? Like No, I'm like, all right,
• 1:22
  Speaker 3: let me just type it in. Let's see what this is.
• 1:23
  Speaker 4: And there's actually that's the one site that there's a
• 1:27
  Speaker 4: ton of Google about. Like, when you start podcasting, there
• 1:30
  Speaker 4: is no blueprint to what we're doing.
• 1:32
  Speaker 5: No, there's not.
• 1:32
  Speaker 4: So I can give you all of the steps that
• 1:34
  Speaker 4: I did exactly. That doesn't mean you're going to see
• 1:37
  Speaker 4: the success money I made. There's just really no blueprints
• 1:40
  Speaker 4: of this. But Patreon there is. And again, at this point,
• 1:43
  Speaker 4: when we first started the podcast, we were paying for studio,
• 1:45
  Speaker 4: we were paying for edits, we needed fires, we need
• 1:47
  Speaker 4: there was expenses coming out and we were like, okay,
• 1:51
  Speaker 4: let's find a way to bring money in, and so
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  Speaker 4: we started our Patreon account.
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  Speaker 2: So all right, so you guys really doing really well
• 1:57
  Speaker 2: with Patreon. So can you talk about that, Like what
• 1:59
  Speaker 2: what's your your model for Patreon?
• 2:01
  Speaker 4: So for Patreon, we wanted to you have to give
• 2:03
  Speaker 4: them more than what they're getting. So as podcasting, I
• 2:07
  Speaker 4: don't think people realize like the amount of information we
• 2:09
  Speaker 4: give out that's for free to a lot of people,
• 2:12
  Speaker 4: and we started growing.
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  Speaker 5: We really have supporters. I like to think.
• 2:16
  Speaker 4: Of our audience as there are our sisters, they are
• 2:20
  Speaker 4: our best friends.
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  Speaker 5: We're in their head as those things.
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  Speaker 4: And so being as vulnerable as we have in transparent
• 2:26
  Speaker 4: with our lives, people wanted to support us, but we
• 2:30
  Speaker 4: were just giving them content for free.
• 2:31
  Speaker 5: So we were like, okay, what can we give them
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  Speaker 5: for a subscription? That's what Patreon is. It's a subscription.
• 2:36
  Speaker 4: It's a subscription platform that you could add to your
• 2:39
  Speaker 4: already present platform.
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  Speaker 2: For creatives quick and it doesn't have to be podcasting
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  Speaker 2: any videos. Anybody can have a Patreon. You can have
• 2:46
  Speaker 2: a Patreon any account, and how much you make of Patreon.
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  Speaker 5: So currently we're seeing close to nine grand.
• 2:52
  Speaker 2: A month, so what do you? What do you? What
• 2:54
  Speaker 2: do you have?
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  Speaker 4: So right now we offer a two dollars tier, a
• 2:57
  Speaker 4: five dollars heier, and a fifteen dollars heier And for
• 3:01
  Speaker 4: our fifteen dollars patrons and five dollars patrons, they get
• 3:05
  Speaker 4: three bonus episodes a month.
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  Speaker 5: So as a.
• 3:07
  Speaker 4: Creator, we are creating now seven to eight episodes a month,
• 3:12
  Speaker 4: and then for our fifteen dollars. Tier patrons, we send
• 3:15
  Speaker 4: them out merch, so every four months they are able
• 3:18
  Speaker 4: to receive merch from us, and it can be anything
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  Speaker 4: from a crew neck, a sweatshirt, a T shirt, socks,
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  Speaker 4: a mug, and so every four months they're now getting
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  Speaker 4: merch that you can only get as being a top
• 3:29
  Speaker 4: tier patron, which is dope because now that we do
• 3:31
  Speaker 4: live shows and they come in with the merch, we
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  Speaker 4: know that they're supporters and it's just a different connection
• 3:35
  Speaker 4: that we have with them. But also it allows them
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  Speaker 4: to have their own community boards, they talk with each other.
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  Speaker 4: We give information that we only give to our patrons
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  Speaker 4: that we don't put on our public platforms. And then
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  Speaker 4: now that we are also on tour, it's the only
• 3:50
  Speaker 4: place that you can be to get access to pre
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  Speaker 4: sale tickets, which was a big thing because our Patreon
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  Speaker 4: community sold out our VIP tickets for our New York
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  Speaker 4: show before it was even open to the public. So
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  Speaker 4: people feel like, you know, they're still getting value and
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  Speaker 4: being a part of that community.
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  Speaker 2: And how long did it take to grow? How many
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  Speaker 2: patrons do you have?
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  Speaker 5: We have about fourteen hundred.
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  Speaker 2: How long did it take to grow down?
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  Speaker 4: We started our Patreon account December of twenty seventeen, and
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  Speaker 4: I can remember shit, sorry, I think we started with
• 4:24
  Speaker 4: maybe getting eighty dollars a month and then that grew
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  Speaker 4: to two and three hundred and it's a slow climb.
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  Speaker 4: But then that's when we went from giving them one
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  Speaker 4: episode to two episodes to now three episodes. So we've
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  Speaker 4: grown to let them know that they're getting you know,
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  Speaker 4: their money is right now.
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  Speaker 3: I was crazy the first month we started Patreon, Like
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  Speaker 3: I said, we had no idea, like even creating the tiers.
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  Speaker 3: It was like how do we even price it? We
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  Speaker 3: tried to figure out what would make sense. And then
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  Speaker 3: like the first month we had like two people.
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  Speaker 5: Oh, we were happy because we were like.
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  Speaker 2: Going, we covered our studio.
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  Speaker 4: Like now we weren't having to pay for the studio
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  Speaker 4: because these five people who you know, I wanted to
• 5:00
  Speaker 4: support us was now it was covering our costs.
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  Speaker 2: No, Patreon has a great idea, and like I said,
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  Speaker 2: not just for podcasts, any creative that's looking to grow organically,
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  Speaker 2: because what it allows is for your your natural supporters,
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  Speaker 2: people that really really supports you to support you financially.
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  Speaker 2: And it's not just charity they're getting something for it
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  Speaker 2: as well. So, like what we've done with our Patreon
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  Speaker 2: is that we've given like the top tier, top two tiers,
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  Speaker 2: access to our online university, which caught Eyo University. They
• 5:26
  Speaker 2: also get access to live stream events all of our events.
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  Speaker 2: They get discounts to our events, I think.
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  Speaker 3: To the events and to the and to our merch
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  Speaker 3: But when they go to Lesia dot com they about emerging.
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  Speaker 2: They get FaceTime at the highest level.
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  Speaker 6: Right, yeah, we're going to so like now, yeah, we
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  Speaker 6: started to Call Girl.
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  Speaker 3: We're in the process of revamping it because it's like, yeah,
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  Speaker 3: we we've added so much content now that we can maybe.
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  Speaker 6: Offer like another episode. So we're gonna start doing things.
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  Speaker 2: Like that too, right, maybe even transcripts, transcripts epis. People
• 5:54
  Speaker 2: want to like they take note, they want to open above.
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  Speaker 2: So I really like when you told me that you
• 5:58
  Speaker 2: was making nine thousand a month off for Patreon. I
• 6:00
  Speaker 2: really like that because it's a way to because like
• 6:03
  Speaker 2: you said, the podcasts are free, right, So it's like
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  Speaker 2: it's hard for podcasters to provide so people don't understand
• 6:10
  Speaker 2: how much work it takes to take to a podcast.
• 6:12
  Speaker 2: Oh oh, it's a full time work.
• 6:13
  Speaker 6: It is a full time time and the time too,
• 6:15
  Speaker 6: the time too, it's like it's crazy.
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  Speaker 2: Yeah, but even so and then travel.
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  Speaker 5: Oh and that's what I was going to say.
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  Speaker 4: So with those funds, we were able to, like I
• 6:25
  Speaker 4: told you, our merch for our tour, this go around
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  Speaker 4: cost us damn near eight grand, Like it's expensive to
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  Speaker 4: buy merch, to sell merch to go on the road.
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  Speaker 4: And so our very first tour that we did. Mind
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  Speaker 4: you again, just being on a network, we still own
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  Speaker 4: a lot of our content and so our first tour
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  Speaker 4: we had no agent.
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  Speaker 5: So Patreon funded our first tour.
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  Speaker 4: We spent about twenty thousand dollars getting the venues, and
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  Speaker 4: this was throughout eight cities. We did thirteen shows and
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  Speaker 4: we literally were like, okay, let's look at our analytics.
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  Speaker 5: What city are we going to.
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  Speaker 4: We looked at our SoundCloud analytics and was like, okay,
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  Speaker 4: we have audiences here. We picked what we would feel
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  Speaker 4: comfortable as far as venue size, and literally when people
• 7:12
  Speaker 4: ask we were like, okay, we're going to Atlanta. Google
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  Speaker 4: Atlanta theater. That's what we did. We googled the city
• 7:24
  Speaker 4: followed by the word theater. A list came up and
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  Speaker 4: we started emailing and calling those places asking for availability
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  Speaker 4: and rental costs, and so we went through all of
• 7:35
  Speaker 4: these cities. We picked the venues, we got the rental costs.
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  Speaker 4: We knew what we wanted to stay between as far
• 7:41
  Speaker 4: as money, So I think our most expensive venue, of course,
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  Speaker 4: was Caroline's.
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  Speaker 5: New York City. That one was about.
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  Speaker 2: Five five thousand.
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  Speaker 4: Yeah, and for a matine show.
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  Speaker 5: The comedy clubs weren't dealing with us at all. They
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  Speaker 5: didn't know who we were.
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  Speaker 4: They didn't really We had a four four pm on
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  Speaker 4: a Sunday, So for you know, for the comedy clubs,
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  Speaker 4: they were a little bit more pricey. But our venues
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  Speaker 4: ranged anywhere from you know, our venue in Chicago was
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  Speaker 4: our least expensive. That one was, I don't know. I
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  Speaker 4: think we got for like one hundred and fifteen hour
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  Speaker 4: and it's at one hundred and thirty people. We did
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  Speaker 4: the numbers, we priced our tickets. We had our friends
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  Speaker 4: check people and we said, here's an extra phone, scan
• 8:23
  Speaker 4: them on event bright. We put all of our tickets
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  Speaker 4: on e vent Bride had our friends at the door.
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  Speaker 4: We were like, we're not popular, we don't need security.
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  Speaker 4: We had no security for the first tour, and we
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  Speaker 4: knew we had to be out at a certain time
• 8:34
  Speaker 4: because we weren't paying no over fees, so we runted
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  Speaker 4: the venues, kept one hundred percent of the door, and
• 8:39
  Speaker 4: we covered our own hotel and transportation expenses. So for
• 8:43
  Speaker 4: some of the cities, I was like, girl, I'm staying
• 8:45
  Speaker 4: with you even though we had even though I'm on tour,
• 8:47
  Speaker 4: I'm staying with my homegirls.
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  Speaker 2: Yeah, how many c did how many cit did you
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  Speaker 2: do your first one?
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  Speaker 5: Our first tour?
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  Speaker 4: We did eight cities and in about three or four
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  Speaker 4: of the cities we had to add an extra show
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  Speaker 4: because we sold.
• 8:59
  Speaker 5: Out the first show.
• 9:00
  Speaker 2: How much money you make on your first tour?
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  Speaker 4: Our first, our first tour, we made about one hundred
• 9:04
  Speaker 4: and ten thousand profit. If you take out the venue calls,
• 9:07
  Speaker 4: we saw almost one hundred grand.
• 9:09
  Speaker 2: And but now you've got an agent's changed changed the
• 9:13
  Speaker 2: game for you.
• 9:14
  Speaker 4: Yes, we are now signed to W and Me and
• 9:17
  Speaker 4: they are now doing our second tour. And we went
• 9:21
  Speaker 4: from doing eight cities to seventeen cities.
• 9:24
  Speaker 2: And how has that helped you as far as like
• 9:25
  Speaker 2: boost up the amount of cities.
• 9:27
  Speaker 4: It's been amazing because we don't have to we don't
• 9:30
  Speaker 4: have to call the venues and be like, hey, so
• 9:33
  Speaker 4: we want to do a show. Like that was the thing.
• 9:35
  Speaker 4: We're walking into these venues. We're doing tech, we're doing sound,
• 9:40
  Speaker 4: we're making sure the green room is cool, we're handling
• 9:42
  Speaker 4: the guest list. They're like, y'all don't have anyone. And
• 9:44
  Speaker 4: it was literally me and my co host with our
• 9:47
  Speaker 4: friends that wanted to help. And so we're going into
• 9:49
  Speaker 4: these venues as the booker, the talent, the management, the
• 9:54
  Speaker 4: producers of everything.
• 9:57
  Speaker 6: Now the agent takes cut.
• 9:58
  Speaker 4: No, the agent takes care of booking the venues, and
• 10:01
  Speaker 4: we now have a tour manager and a tour assistant
• 10:03
  Speaker 4: that deal with the writer's production to where we can
• 10:06
  Speaker 4: now show up and put on a.
• 10:07
  Speaker 2: Show and they get paid.
• 10:09
  Speaker 5: Yes, our assistant we pay salary.
• 10:12
  Speaker 4: Our tour manager we pay salary, and the agent takes
• 10:15
  Speaker 4: a percentage.
• 10:15
  Speaker 6: Said writers, writers.
• 10:17
  Speaker 4: So like the things the hospitality writer, but we asked
• 10:22
  Speaker 4: for in our green room. So I want it to
• 10:24
  Speaker 4: be like I want Skittles with the purple ones taking out.
• 10:29
  Speaker 5: But I was like, no, let me stop.
• 10:30
  Speaker 4: But I was like, oh, we talent now, Like we
• 10:32
  Speaker 4: went to Howard Theater, which was one of our biggest
• 10:35
  Speaker 4: venues in my name was on the room.
• 10:36
  Speaker 5: I was like, I need all.
• 10:37
  Speaker 4: The but no, I'm o writer. It's Tito's, which I
• 10:41
  Speaker 4: might have to up that because it'd be going before
• 10:42
  Speaker 4: the show starts.
• 10:44
  Speaker 5: So I got Tito's.
• 10:45
  Speaker 4: My co host has like red Bull like it's simple.
• 10:48
  Speaker 4: That's our hospitality writer. And then we have our production writer.
• 10:50
  Speaker 4: So what we need on stage, the music that we're
• 10:53
  Speaker 4: going to play, the host, what time we want them
• 10:55
  Speaker 4: and come out. So we still are very much in
• 10:58
  Speaker 4: charge with the production of our show.
• 10:59
  Speaker 2: And that's dope because that's important to us. It's so
• 11:03
  Speaker 2: the podcast game is becoming like a real, real crazy
• 11:07
  Speaker 2: thing where it's like, as a podcast, you can go
• 11:09
  Speaker 2: on tour just like a musician can go on tour,
• 11:12
  Speaker 2: and you get the same benefits, and it's like what
• 11:14
  Speaker 2: you described for your first ship. That's like where we're
• 11:16
  Speaker 2: at right now because we're on our tour right now
• 11:19
  Speaker 2: where we do everything ourselves.
• 11:20
  Speaker 4: So that's the thing that I will say a lot
• 11:22
  Speaker 4: of people see a lot of podcasts going on tours
• 11:25
  Speaker 4: or doing live shows and they automatically think they have
• 11:28
  Speaker 4: to do it.
• 11:29
  Speaker 5: I would go against that.
• 11:32
  Speaker 4: I think a lot of people think that, you know,
• 11:33
  Speaker 4: if they're not doing live shows, then they're not successful.
• 11:36
  Speaker 4: And I think they need to focus on maybe reaching
• 11:38
  Speaker 4: their audience more before just okay, we're going to do
• 11:41
  Speaker 4: a live show. Because I do know a lot of
• 11:43
  Speaker 4: podcasters that are like, Okay, it's time for me to
• 11:45
  Speaker 4: do a live show, and then they get the venue,
• 11:47
  Speaker 4: they start selling tickets and no tickets to me, what's.
• 11:49
  Speaker 6: The number though? Like when do you know?
• 11:50
  Speaker 2: Is what our blueprint was. We did networking events. We
• 11:53
  Speaker 2: did free networking events in six cities in America. We
• 11:56
  Speaker 2: did La Chicago, Houston, New York, Atlanta, anywhere else you
• 12:03
  Speaker 2: got them. Five we did five free and no, we're
• 12:06
  Speaker 2: not a networking event. We did five free networking events
• 12:10
  Speaker 2: last year free, completely free come and we just made
• 12:14
  Speaker 2: money off of merch and the bar. We split contents
• 12:17
  Speaker 2: on the bar right. We did that for a few
• 12:19
  Speaker 2: different reasons. A. We wanted to just get out and
• 12:21
  Speaker 2: touch the cities we like and interact with the people.
• 12:24
  Speaker 2: And we used it as a real time gauge to
• 12:27
  Speaker 2: see how hot we was in those.
• 12:30
  Speaker 4: I really liked that it's like a pop up show,
• 12:32
  Speaker 4: our first live show again, like I was, I was
• 12:35
  Speaker 4: telling you guys before, as an accountant, I'm looking at
• 12:38
  Speaker 4: margins and break even and all of the things necessary
• 12:41
  Speaker 4: and looking at what we had to put.
• 12:43
  Speaker 5: Out and.
• 12:46
  Speaker 4: So what we needed to sell tickets at. We did
• 12:49
  Speaker 4: have our studio that we recorded at the time. He
• 12:53
  Speaker 4: put up the money and then we paid him back
• 12:55
  Speaker 4: with the ticket sales. But we literally our first show,
• 12:57
  Speaker 4: we saw no money at all, and we did We
• 13:00
  Speaker 4: weren't doing it for money, but we were doing it
• 13:02
  Speaker 4: to reach our audience. So I would say that would
• 13:04
  Speaker 4: maybe be another tip. It's to make sure you price
• 13:07
  Speaker 4: the tickets as something where you could at least break even,
• 13:10
  Speaker 4: and not to look at your first live show as
• 13:12
  Speaker 4: something to make a ton of money off of. So
• 13:14
  Speaker 4: maybe sizing your venue down with something that's not going.
• 13:18
  Speaker 2: To cost a lot. Yeah and yeah, So it's just
• 13:20
  Speaker 2: dope because it's all learned experience. It's it's like so
• 13:23
  Speaker 2: for us now, like I said, we're in the stage
• 13:25
  Speaker 2: where we're not signing to anybody and we don't have
• 13:27
  Speaker 2: any booking ages or anything, so we're doing all this stuff.
• 13:29
  Speaker 2: It's a lot of work. That's why we kind of
• 13:31
  Speaker 2: like spread it out like six weeks in between shows,
• 13:34
  Speaker 2: and we do two so we do like a live
• 13:35
  Speaker 2: podcast and we do a workshop too, so it's like
• 13:38
  Speaker 2: a two day event. But when we got invited, like
• 13:42
  Speaker 2: I said, shout out eighty five South and we got
• 13:44
  Speaker 2: invited to they were guests on lip Service, on the
• 13:48
  Speaker 2: Lip Service Angela Yee's podcast. So we went to the
• 13:52
  Speaker 2: show that they had in New York City. No at
• 13:55
  Speaker 2: where was it at?
• 13:56
  Speaker 6: Uh, Lincoln Hole?
• 13:58
  Speaker 2: Was Lincolnhole? I think was, yeah, but it was so
• 14:02
  Speaker 2: they were guests on lip Service. Yes, So we got
• 14:04
  Speaker 2: there before eighty five South got there. So they they
• 14:07
  Speaker 2: brought us to their like room, the green room, and
• 14:10
  Speaker 2: like they had the liquor bottles and it was like
• 14:12
  Speaker 2: a real like backstage for for former but as.
• 14:17
  Speaker 4: A podcaster, especially if you're doing the lot like you're
• 14:19
  Speaker 4: an artist like and so yeah, it's great.
• 14:22
  Speaker 6: These are entertainment me being on tour, like.
• 14:24
  Speaker 4: We're going through riders, we have day calls, we have like,
• 14:27
  Speaker 4: we have sound checks, we have it's really crazy, like
• 14:30
  Speaker 4: and when I'm talking to my friends who are in
• 14:32
  Speaker 4: the music industry, they're like, you know, dang, you have
• 14:37
  Speaker 4: like a real tour, like a real schedule, like and
• 14:39
  Speaker 4: I'm like, yeah, it's kind of like I'm a music artist.
• 14:41
  Speaker 2: Is kind of yeah, But I have to say it's
• 14:43
  Speaker 2: like it's a it's earners.
• 14:45
  Speaker 6: What's up.
• 14:46
  Speaker 3: You ever walk into a small business and everything just works,
• 14:49
  Speaker 3: like the checkout is fast, the seats of digital tipping
• 14:53
  Speaker 3: is a breeze, and you're out the door before the
• 14:55
  Speaker 3: line even builds odds are they're using Square. We love
• 15:00
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  Speaker 3: pushing your vision forward. This episode is brought to you
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  Speaker 7: Coach, the energy out there felt different. What changed for
• 16:39
  Speaker 7: the team today?
• 16:39
  Speaker 3: It was the new game day, scratches from the California
• 16:41
  Speaker 3: Lottery players, everything.
• 16:43
  Speaker 6: Those games sent the team's energy through the roof.
• 16:45
  Speaker 7: Are you saying it was the off field play that
• 16:47
  Speaker 7: made the difference on the field.
• 16:49
  Speaker 6: Hey, little play makes your day, and today it made
• 16:51
  Speaker 6: the game.
• 16:52
  Speaker 7: That's all for now, Coach, One more question played the
• 16:55
  Speaker 7: new Los Angeles Chargers, San Francisco forty nine Ers and
• 16:58
  Speaker 7: Los Angeles Ram Scratchers from the Calign lottery. A little
• 17:01
  Speaker 7: play can make your day, Peace, make responsibilit must be
• 17:04
  Speaker 7: eighteen years or older to purchase plate or claim.
• 17:05
  Speaker 2: It's always a progression in the business. So it's like,
• 17:09
  Speaker 2: as you so, now you have staff that handles your
• 17:13
  Speaker 2: touring for you, that helps it out. Now you can
• 17:15
  Speaker 2: add more shows and it makes it, you know, easier transition.
• 17:19
  Speaker 2: And that's something that a lot of times people don't
• 17:21
  Speaker 2: really think about as far as like, especially like when
• 17:23
  Speaker 2: a podcast or any type of creative it is like
• 17:26
  Speaker 2: there's more to it than just the content.
• 17:28
  Speaker 4: But I think and it's one of the things that
• 17:30
  Speaker 4: we're trying to get now. I don't think people realize
• 17:33
  Speaker 4: the importance of a team. And so for a lot
• 17:38
  Speaker 4: of the beginning of us, it was just me and
• 17:40
  Speaker 4: her and we did we thought we could do it all.
• 17:43
  Speaker 4: Like like I said, we were every position imaginable, and
• 17:46
  Speaker 4: it's there's only so far that you could take yourself
• 17:49
  Speaker 4: before you create a team.
• 17:50
  Speaker 5: So you guys, having someone behind the camera, that's hope.
• 17:53
  Speaker 4: You guys now don't have to deal with the video
• 17:55
  Speaker 4: element of something and you have him doing that us
• 17:57
  Speaker 4: now having an engineer helps without me have to do
• 18:00
  Speaker 4: the editing. When we're dealing with a tour, we're looking
• 18:03
  Speaker 4: for an assistant social media person like you. It takes
• 18:06
  Speaker 4: a team, which I think is why you have these
• 18:09
  Speaker 4: people like Angela Yee and Brilliant Idiots and Joe Budden
• 18:13
  Speaker 4: who has been able to go so far because they
• 18:16
  Speaker 4: have people.
• 18:17
  Speaker 5: That have their roles.
• 18:18
  Speaker 2: That's the fact. Eighty five South show So they are
• 18:19
  Speaker 2: nineteen people. Yeah, and they said they started with they
• 18:23
  Speaker 2: was doing I think like one hundred to two hundred people.
• 18:26
  Speaker 2: Now they do like three three thousand, three thousand people.
• 18:28
  Speaker 2: They started out with a wood table and three microphones. Yeah,
• 18:31
  Speaker 2: you know what I'm saying.
• 18:32
  Speaker 4: So, I mean they get anyone, anyone looking to get
• 18:34
  Speaker 4: into the space, if they're looking for it to be
• 18:37
  Speaker 4: a business. This definitely is something that you can grow
• 18:40
  Speaker 4: to be like very you know, profitable.
• 18:43
  Speaker 2: So hosting you get paid on hosting tour.
• 18:45
  Speaker 4: Yes, I do panels, hostings. That just goes with bookings.
• 18:48
  Speaker 5: And I love it because it's literally like bro, I'm
• 18:51
  Speaker 5: getting paid to talk.
• 18:52
  Speaker 4: It's like like this is still it's a nuance that
• 18:56
  Speaker 4: I can't even explain, Like I'm the one that had
• 18:59
  Speaker 4: to be told to shut up in the.
• 19:00
  Speaker 5: Classroom, like talking too much. Engagements, you know, so they're
• 19:03
  Speaker 5: speaking engagements right now.
• 19:06
  Speaker 4: We're trying to do after parties just again, just to
• 19:08
  Speaker 4: be more after our live shows.
• 19:13
  Speaker 5: Again.
• 19:13
  Speaker 4: You have to realize that the booking of hostings and clubs,
• 19:17
  Speaker 4: that whole scene has changed. They realize that certain people
• 19:20
  Speaker 4: aren't bringing it out. Just because you have a million
• 19:22
  Speaker 4: followers doesn't mean you're even going to bring a crowd
• 19:25
  Speaker 4: so right now, because promoters don't do that as much anymore,
• 19:28
  Speaker 4: it's us trying to.
• 19:29
  Speaker 5: Y'all don't understand though our reach is here.
• 19:31
  Speaker 4: So as far as club hostings, that's not really a thing,
• 19:35
  Speaker 4: but it's more so, yeah, speaking engagements and and we're
• 19:39
  Speaker 4: doing Mocha Fest in Jamaica, so that's a booking where
• 19:42
  Speaker 4: it's not really talking, but we're going to be doing
• 19:43
  Speaker 4: a live show in Jamaica.
• 19:44
  Speaker 2: The agent handles that stuff, you know.
• 19:46
  Speaker 5: We got booked on that by ourselves.
• 19:48
  Speaker 2: Yeah, so you another major portion of your money comes
• 19:53
  Speaker 2: from ads, right.
• 19:54
  Speaker 4: Yes, And that's probably one of the hardest things for podcasters,
• 20:01
  Speaker 4: and it's probably the one thing that they look to
• 20:03
  Speaker 4: start to get is ads, and that's the toughest thing
• 20:07
  Speaker 4: I think to get as as a podcaster.
• 20:11
  Speaker 5: You don't know who to reach out to.
• 20:12
  Speaker 4: You know, Okay, we talk about sex, Okay, Blue Choo,
• 20:17
  Speaker 4: Adam and Eve, Like there's certain brands that we know would.
• 20:19
  Speaker 5: Align well with us. But who do you get in
• 20:21
  Speaker 5: touch with to say, hey.
• 20:23
  Speaker 4: Give me money so that I can say your name.
• 20:25
  Speaker 4: It's like it's hard to come about. So Loudspeaker plays
• 20:28
  Speaker 4: the middle man in that they bring in majority of
• 20:30
  Speaker 4: our ads outside of any ad agency. Is that just
• 20:33
  Speaker 4: reach out to us personally?
• 20:34
  Speaker 3: Prior to now Speaker, were you guys when you were
• 20:36
  Speaker 3: doing independently, how did you get those people or.
• 20:39
  Speaker 6: Did we did?
• 20:40
  Speaker 4: I remember this guy hit us up and was like
• 20:42
  Speaker 4: I got a song, and I think we charged them,
• 20:45
  Speaker 4: like I come on for one fifty. We got other
• 20:48
  Speaker 4: people that would send us stuff and we were doing ads,
• 20:51
  Speaker 4: but we were doing for like fifty dollars, like just
• 20:53
  Speaker 4: so that we can, well, this.
• 20:54
  Speaker 5: Will cover our studio time.
• 20:56
  Speaker 4: So you know, when we first started, we we literally
• 20:58
  Speaker 4: were getting We thought it was anything that mattered.
• 21:02
  Speaker 5: Oh we're making money.
• 21:04
  Speaker 4: But then as we got further, and we saw that
• 21:07
  Speaker 4: our audience really bought into the things that we said. Again,
• 21:10
  Speaker 4: our relationship with our audience was most important. So we
• 21:12
  Speaker 4: had sex toy companies that hit us up. We were like,
• 21:15
  Speaker 4: we're not giving an ad until we tried the product.
• 21:18
  Speaker 4: So there's been companies that have set us.
• 21:22
  Speaker 7: Try it out.
• 21:24
  Speaker 4: So there would be companies that would hit us up,
• 21:25
  Speaker 4: and I was like, girl, my vibrator died the first time, Like,
• 21:29
  Speaker 4: we're not doing that ad on the show. So I know,
• 21:34
  Speaker 4: but seriously, so I think it's important that you're not
• 21:39
  Speaker 4: just accepting any money that comes in because it's being
• 21:42
  Speaker 4: thrown at you.
• 21:42
  Speaker 6: At first, just in general, at first, we.
• 21:45
  Speaker 4: Were like listen, Like we were talking about how much
• 21:48
  Speaker 4: we liked our vacation in Thailand. We would get d
• 21:52
  Speaker 4: MS because you said you're going to Thailand. I'm going,
• 21:55
  Speaker 4: Now where did you stay? And we noticed just how
• 21:57
  Speaker 4: much like people were following what we were saying. Yeah,
• 22:00
  Speaker 4: we had a strong impact, and I was like, well,
• 22:02
  Speaker 4: if we're going to have our people spend their hard
• 22:04
  Speaker 4: earned dollars not only at our shows but in products
• 22:06
  Speaker 4: that were endorsing, I want it to be worth endorsing.
• 22:11
  Speaker 4: So that became important. I know, like just recently, a
• 22:14
  Speaker 4: tobacco company hit us up. I said, are we not
• 22:16
  Speaker 4: doing that? I don't care how much to pay us.
• 22:18
  Speaker 4: I'm not endorsing tobacco. So it's also just really having
• 22:23
  Speaker 4: that you know that all money isn't worth it.
• 22:25
  Speaker 2: That's a fact. Yeah, And we told all that before
• 22:28
  Speaker 2: in another episode, like CPM got engage that can you
• 22:31
  Speaker 2: just talk about that?
• 22:31
  Speaker 4: Like so, CPM, if you google it, this is how
• 22:34
  Speaker 4: you can determine how much maybe an AD would be
• 22:36
  Speaker 4: worth on your podcast. So twenty five dollars is the
• 22:40
  Speaker 4: basic CPM rate. You multiply that by every thousand.
• 22:47
  Speaker 5: Listens that you get.
• 22:48
  Speaker 4: So if you're getting ten thousand listens multiplied by twenty
• 22:54
  Speaker 4: five dollars per thousand, that's two hundred and fifty dollars.
• 22:57
  Speaker 4: And you can get that per ad. And of course
• 23:00
  Speaker 4: it's the number of ads that you approve on your
• 23:02
  Speaker 4: shows up to you. We don't really like to go
• 23:05
  Speaker 4: over four, and that's maybe two mid rolls and two
• 23:08
  Speaker 4: pre rolls. Most end rolls don't really count as anything. No,
• 23:12
  Speaker 4: nobody's buying an end roll. A lot of people don't
• 23:15
  Speaker 4: listen to a full podcast. So those are normally thrown
• 23:18
  Speaker 4: in for free, but you can decide how many you
• 23:21
  Speaker 4: want to take. But again, if you're seeing ten thousand,
• 23:24
  Speaker 4: ten thousand listens and you take on four ads, that's
• 23:27
  Speaker 4: a thousand dollars for that one episode. And if you're
• 23:29
  Speaker 4: someone who maybe records out of your house and doesn't
• 23:32
  Speaker 4: have much overhead, you're seeing that as profit because now
• 23:35
  Speaker 4: you're not putting that into your production. So for us,
• 23:39
  Speaker 4: and sometimes you can give a discount. You can be like, okay,
• 23:41
  Speaker 4: I know the standard is twenty five. I'll give it
• 23:43
  Speaker 4: to you for twenty two. And so you can gauge
• 23:46
  Speaker 4: it off that. Right now, we base it off of
• 23:48
  Speaker 4: about seventy thousand listens, and that fluctuates. You also normally
• 23:52
  Speaker 4: go based off of your numbers for about the six
• 23:55
  Speaker 4: sixth week mark.
• 23:56
  Speaker 5: So this is net six weeks.
• 23:59
  Speaker 6: Because some people look at it like what's your first week?
• 24:01
  Speaker 4: Right?
• 24:02
  Speaker 7: Yeah?
• 24:02
  Speaker 5: No, no, no, so yes so.
• 24:05
  Speaker 4: And also you have to realize when you're getting paid
• 24:07
  Speaker 4: for these sometimes you're not getting paid until net thirty
• 24:10
  Speaker 4: or net sixty. So even though you're getting this money,
• 24:12
  Speaker 4: you're not getting it up front. You're saying the ad
• 24:15
  Speaker 4: and you're not seeing that money till down the line,
• 24:17
  Speaker 4: so being kind of up.
• 24:19
  Speaker 5: On when you're owed when to sound invoices.
• 24:22
  Speaker 4: This becomes now a part of the business where you
• 24:24
  Speaker 4: need to keep track of what your money is coming
• 24:28
  Speaker 4: in and what's going out now.
• 24:29
  Speaker 2: Also it's important for podcasters to understand too, is that
• 24:31
  Speaker 2: they allot of the ad agencies they base your numbers
• 24:34
  Speaker 2: off of previews predata like data. So it's like where
• 24:38
  Speaker 2: we could be in January right now, and then they'll
• 24:41
  Speaker 2: base the numbers off of October. Yeah, and it's like
• 24:45
  Speaker 2: six thousand less listeners than what you currently have right
• 24:49
  Speaker 2: and then by the time you get paid it's not
• 24:51
  Speaker 2: till March. Now you got to hold so it's like
• 24:55
  Speaker 2: you're always chasing back.
• 24:57
  Speaker 4: But also knowing that you can include your numbers is
• 25:00
  Speaker 4: not only from your audio, but you could be like, yo, listen,
• 25:03
  Speaker 4: I also get another thirty thousand views on YouTube, so
• 25:06
  Speaker 4: you're allowed to kind of combine those.
• 25:08
  Speaker 2: You know, it's funny that you said, and I had
• 25:10
  Speaker 2: to cut you off with a lot of because I
• 25:11
  Speaker 2: was talking once again to one of our good friends
• 25:14
  Speaker 2: in the podcast space, and they were saying that another
• 25:16
  Speaker 2: ad agency that he used to use and that we
• 25:20
  Speaker 2: kind of use. Sometimes they don't. They didn't allow that.
• 25:23
  Speaker 2: A lot of ads don't allow YouTube. Yeah, but it
• 25:26
  Speaker 2: doesn't changing.
• 25:27
  Speaker 5: It's changing a little bit now.
• 25:29
  Speaker 4: But also, if you guys want to make money for
• 25:31
  Speaker 4: your visuals and your audio, you can just base your
• 25:33
  Speaker 4: audio numbers, which is what we do now because our
• 25:36
  Speaker 4: videos have been pretty inconsistent, so it's not fair to
• 25:40
  Speaker 4: the to the you know advertiser. But there's Google ad sets,
• 25:45
  Speaker 4: so you can still make money off of all of
• 25:46
  Speaker 4: the ads that YouTube is putting into your videos as
• 25:51
  Speaker 4: they still please, We're not able to be as monetized
• 25:54
  Speaker 4: because of our content. So if you have a business,
• 25:57
  Speaker 4: you know, podcast or something more hit friendly, which now
• 26:01
  Speaker 4: they even added.
• 26:02
  Speaker 6: If yeah, you have to y plus check out, but you.
• 26:05
  Speaker 4: Can log in, get your Google ad Sense and you
• 26:08
  Speaker 4: can monetize and get paid off of what YouTube ads are.
• 26:13
  Speaker 2: Another podcast hacked to get paid double is that you
• 26:17
  Speaker 2: can do an ad for audio because most most companies
• 26:19
  Speaker 2: just want to advertise audio. So you can do the
• 26:21
  Speaker 2: ad for audio, but then if somebody else wants to
• 26:24
  Speaker 2: do an ad, you might not have enough ad space.
• 26:25
  Speaker 2: You can do the ad for YouTube, and you can
• 26:28
  Speaker 2: outside of the ads that they already give you, like
• 26:31
  Speaker 2: you can place an AD in the episode just for YouTube.
• 26:33
  Speaker 5: So and I wanted to say that too.
• 26:35
  Speaker 4: So, because our podcast is not current event based, we
• 26:40
  Speaker 4: do pre record a ton of content, so we'll go
• 26:43
  Speaker 4: into the studio and bust out two or three episodes
• 26:45
  Speaker 4: in one sitting, and so we may get an AD
• 26:49
  Speaker 4: last minute and now I have to record it and
• 26:51
  Speaker 4: we're fitting it into audio. So that's also something for
• 26:54
  Speaker 4: people who pre record their content. Don't feel like you
• 26:56
  Speaker 4: have to miss out on an AD. You can always
• 26:59
  Speaker 4: record it at the audio and fit it inside, make
• 27:02
  Speaker 4: sure you transition it right and say hey, before we
• 27:04
  Speaker 4: get to that segment, this episode was brought to you
• 27:07
  Speaker 4: by and you could always feed it into it organically
• 27:11
  Speaker 4: because a lot of you know, advertisers do want an
• 27:13
  Speaker 4: organic sounding AD. They don't want it just placed in.
• 27:16
  Speaker 4: So you can still find ways to transition it if
• 27:18
  Speaker 4: you're editing in a good, you know, a roundabout way,
• 27:21
  Speaker 4: especially if you have segments the way you guys do.
• 27:23
  Speaker 2: Yeah, and that's like I said, that's important. People don't know.
• 27:25
  Speaker 2: So it's like if you have a business that you
• 27:28
  Speaker 2: know you're promoting, you know, Teef straightening. You know, if
• 27:31
  Speaker 2: you're a dentist and somebody else wants to do the
• 27:33
  Speaker 2: exact same thing, you can't have two of the same
• 27:36
  Speaker 2: companies advertised on audio.
• 27:37
  Speaker 1: Right.
• 27:38
  Speaker 2: What you could do is say, okay, it's five hundred
• 27:39
  Speaker 2: dollars for audio for your teeth straightening company, so we
• 27:43
  Speaker 2: don't have space, but our YouTube numbers might be half
• 27:45
  Speaker 2: of that, so we can insert a short clip on
• 27:48
  Speaker 2: video just on YouTube. Charge you to fifty because it's less.
• 27:51
  Speaker 2: So now you get in seven fifty and the YouTube
• 27:55
  Speaker 2: listeners aren't hearing audio. Audio listeners aren't watching YouTube for
• 27:59
  Speaker 2: the most part, different audiences.
• 28:01
  Speaker 6: Audience and beauty.
• 28:02
  Speaker 3: The beauty of the YouTube is that literally you can
• 28:04
  Speaker 3: place it anywhere and as many as you want. Really,
• 28:07
  Speaker 3: it just has to be after I think ten minutes,
• 28:09
  Speaker 3: that's when you can start placing ads, so you could
• 28:11
  Speaker 3: just place them anywhere like, So that's what.
• 28:13
  Speaker 4: We right, And then I mean, if you are a
• 28:15
  Speaker 4: podcast that is going to start inserting all of these ads,
• 28:19
  Speaker 4: that's where Patreon becomes a great platform because now you
• 28:22
  Speaker 4: can say this is ad free content. So a lot
• 28:25
  Speaker 4: of people don't, like, they don't want to hear it.
• 28:27
  Speaker 4: They just don't want to hear it. And so now
• 28:29
  Speaker 4: that becomes a selling point to where okay, well you
• 28:32
  Speaker 4: can listen to the episode's ad.
• 28:34
  Speaker 2: Free, and our Patreon members listen to our episodes early
• 28:38
  Speaker 2: not only oh yeah, not only ad free, but early
• 28:42
  Speaker 2: as well.
• 28:43
  Speaker 5: Yeah.
• 28:44
  Speaker 3: We ran, we ran into a comment like we have
• 28:47
  Speaker 3: posted that we were about to put out the episode,
• 28:49
  Speaker 3: and somebody was like, yo, I loved it, was our favorite,
• 28:52
  Speaker 3: and we were like, yo, how do you hear it.
• 28:53
  Speaker 6: He's like ya, I'm a Patreon I'm like, oh yeah, yeah, yeah, yeah,
• 28:56
  Speaker 6: shout out to you.
• 28:58
  Speaker 2: Shout outs. No, actually I made it co I'm like, yo,
• 29:01
  Speaker 2: it didn't come out yet, and everybody started laughing in
• 29:03
  Speaker 2: the comments section. He was like yo, he's bugging, and
• 29:05
  Speaker 2: he's like, now I'm on patient. I'm like, I apologize.
• 29:08
  Speaker 4: But I mean, outside of making the money, I think
• 29:12
  Speaker 4: one of the other things that is the most important
• 29:14
  Speaker 4: as a content creator is to literally just learn whatever
• 29:18
  Speaker 4: you think you're gonna have to pay somebody to do,
• 29:21
  Speaker 4: teach yourself. So, like I was saying, I got a
• 29:24
  Speaker 4: MacBook as a gift because I said I need a
• 29:26
  Speaker 4: MacBook because I need Premiere Pro to edit, because all
• 29:29
  Speaker 4: the people who edit stuff have.
• 29:31
  Speaker 5: MacBooks, so I need a MacBook.
• 29:33
  Speaker 4: And so I taught myself how to edit audio on Audacity,
• 29:37
  Speaker 4: Garage Band, and Premiere Pro.
• 29:39
  Speaker 5: I created our media kit.
• 29:41
  Speaker 4: I taught myself how to cut social media clips, how
• 29:46
  Speaker 4: to create social media content like audiograms and videos and
• 29:51
  Speaker 4: anything that I felt we needed as marketing material. And
• 29:54
  Speaker 4: those are things that sometimes you have to pay if
• 29:55
  Speaker 4: you don't know how to do it. So I literally
• 29:58
  Speaker 4: taught myself on YouTube. I would go in and be like, okay,
• 30:01
  Speaker 4: how do I split this track? And there's YouTube videos
• 30:04
  Speaker 4: for literally everything. So for people who maybe have a
• 30:07
  Speaker 4: job but don't have the money to invest in cameras
• 30:10
  Speaker 4: or equipment or studio time or outsourcing all of these jobs,
• 30:15
  Speaker 4: you can't teach yourself how to do it.
• 30:17
  Speaker 5: And it's editing audio is fairly simple. It is. It's
• 30:20
  Speaker 5: fairly simple.
• 30:20
  Speaker 2: There you have it, ladies and gentlemen, the blueprint or
• 30:23
  Speaker 2: how to make money on the podcast. A lot of
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  Speaker 1: You just realized your business needed to hire someone yesterday.
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  Speaker 1: all you need