Apple Podcasts New Updates
Apple is beefing up its tools for paid podcasters. The company announced its exciting podcast creator tools. It includes Subscription Analytics that can help podcasters monitor how their listeners are engaging with their shows.
The company also expands its Delegated Delivery offering. It enables creators to publish their episodes from other hosting providers.
For easy access, it is integrating analytics into Linkfire, which is a marketing platform.
In 2021, Apple announced its expansion into podcast subscriptions. The service enables listeners to take advantage of additional benefits, such as ad-free listening.
Listeners can also access episodes and be able to support their favorite creators.
Two years after, the service has thousands of shows, ranging from independent creators to podcasts by larger media organizations.
Better Tools for Creators
Because of its popularity, Apple considered adding better tools for creators to help them better understand their paying audience.
With Subscription Analytics, podcasters can use the new dashboard that let them track their key metrics around subscriptions. In that way, they will know and understand whether or not this part of their business is growing.
If you are a creator, you can track the number of trials started and converted. You can also monitor the conversion rates to paid subscriptions.
Furthermore, you can see a breakdown of your monthly and yearly subscriptions. If you offer a trial, you can also track its performance.
According to Apple, a third of podcast subscribers are now choosing to subscribe to a yearly plan after the company introduced it last year.
Linkfire for Podcasts will enable creators to generate smart links for their shows. As a result, they can access more data on their listeners.
Filter Active Subscriptions
You can also filter your data by active subscriptions. This will help you view a breakdown of subscriptions according to their subscription status. You can also view Subscription Events, including cancellations, activation, and renewals.
These updates come after Spotify announced its partnership with Patreon. With this partnership, listeners can access their Patron podcast directly on Spotify.
Before this partnership, listeners need to listen to premium content on the Patreon app. Or they had to utilize a private RSS link to listen via a podcast player of their choice.
Prolific Business If…
Podcasting can be a prolific business if you approach it strategically. As long as you create compelling content and know how to monetize your podcasts effectively, you can make a lot of money.
The industry has experienced significant growth in recent years. It continues to offer opportunities for entrepreneurs, businesses, and content creators.
However, if you wish to generate revenue through podcasting, make sure to diversify your revenue streams. That is, you can include advertising and sponsorships, listener donations through Patreon, merchandise sales, premium subscriptions, and more.
As podcast gains a larger and more engaged audience, it becomes an attractive platform for advertisers, leading to more lucrative sponsorship deals.
Then again, you need to build a loyal and growing listener base to make your podcast profitable. It requires consistently producing high-quality content and actively promoting your podcast to a concentrated demographic.