How much does it cost to start a podcast? Less than you might think!
I’m almost 9 years into hosting The Side Hustle Show, and what started as a little side-project experiment has turned into a life-changing adventure.
I’ve had the unique opportunity to meet some amazing entrepreneurs, share their stories, and build a worldwide audience of listeners. Oh, and build a really rewarding business as well.
One question I’ve been asked a few times is how much it costs to start a podcast, so I thought I’d put together a quick list of the expenses in case you’re thinking of starting a show of your own.
By far the biggest expense has been time. It takes a few hours to record, edit, write the show notes, publish, and promote each episode. (Here’s a detailed look at my podcast production process.)
But the monetary costs are quite low. I started The Side Hustle for less than $100 in 2013, and you can probably still get close to that startup cost today.
Here’s what you’ll need.
A Microphone
Without a way to get your voice into the computer, there’s no way to make a podcast.
Free Options
Technically you could use your phone to record, but I don’t know of any serious podcasts hosts who do.
You might be thinking, well my laptop has a mic built-in! Can’t I just use that?
Again, you can … but just because you can do something doesn’t mean you should.
Sound quality will probably be less-than-awesome, so I don’t really recommend this, especially when the content you’re producing is an audio format, and poor sound quality can scare away listeners in a hurry.
Besides, a quality microphone is a pretty small investment.
Budget Options
The Audio-Technica ATR2100x is a great, well-rated option.
I started the show with the older version of this mic. My guests would always comment on the voice clarity, saying it sounds like I’m right there in the same room.
And the best part is it plugs right into your USB port so you don’t need any extra fancy mixer equipment.
It comes with a little tripod stand, but you might want to add one of those foam microphone covers (pop filter).
You might also consider the Samson Q2U, which has earned positive reviews on Amazon. This is the mic I send to guests to get clear audio on both sides.
The most important thing to look for while mic shopping is to get a dynamic microphone — as opposed to a condenser microphone. Dynamic mics are better at isolating sound from your voice without picking up everything else happening in the room.
Yes, you can spend hundreds of dollars on a microphone and mixer setup, but you definitely don’t need to. Until you’ve proven out the concept of your show and attracted some listeners, why take on that expense?
When we think of the 80/20 rule, it definitely applies here. These inexpensive dynamic mics will get you probably better than 80% of the sound quality as the more expensive options, for perhaps 20% of the cost.
Recording / Editing Software
Audio software is definitely required to edit out the unwanted tangents and awkward pauses during your recording. You can also use it to splice in different audio snippets and sounds, such as your intro and outro, any special commentary, or applause effects and laugh tracks.
Free Options
I’m a PC guy so my editing software from Day 1 has been Audacity.
Garage Band is free to install from the Mac App Store.
Like any new software, there’s a little bit of a learning curve, but with the wealth of tutorials on YouTube, you’ll figure it out in no time.
The other tool you’ll want in your toolbox here is Auphonic. Upload your edited wav files to Auphonic and the software will automatically level everything out (so you and your guest are the same volume) and perform some more audio magic.
It’s free for up to 2 hours of processed audio per month.
The Best Content Editor
The first time you use Descript, you’ll think it’s magic! It transcribes your audio or video recordings, and then lets you cut sections of the video by simply deleting the text.
Incredible.
Another cool feature? If you mess up a line or need to add something after the fact, you don’t have to re-record. After it learns your voice, Descript can create an AI-powered “overdub” of you “saying” the missing words.
We use this to create the video versions of the podcast along with other YouTube content.
Recording Remote Interviews
If you plan on having guests on your podcast, it’s important to have a way to record your conversation. If the show will just be you on your soapbox, you can record directly into your audio software (Garage Band or Audacity).
Free Options
Many podcasters I know use Zoom to record their interviews. I’ve used Zoom for some video interviews, but I’ve found its audio quality isn’t as good as other options.
Skype now has a built-in call recorder, and that is definitely a viable tool.
For the best quality and stability though, you’ll want to look at a tool built specifically for remote recordings.
For example, Zencastr has the advantage of recording each side’s audio independently, which theoretically helps avoid Skype lags or VOIP connection problems in your final audio. This makes editing easier as well, as you’ll have a separate audio track for each speaker.
(Zencastr also allows for HD video recording now.)
Premium Options
Descript has a remote recording tool included with their paid plans.
I’ve been using Riverside for the last couple years, which works similarly. The free plan allows up to 2 hours of recordings per month.
Again, the bigger issue here is your own audio input and your guest’s sound quality. Garbage in, garbage out, no matter what you’re using to record.
Intro / Outro Music and Voiceover
This is certainly an optional expense, and listeners may appreciate you getting straight to the point without a lengthy intro.
But some elements of branding and consistency can help make the show unique. Think of it like the theme song and opening credits of your favorite TV show.
Free Option
Do it yourself.
You definitely don’t need a fancy intro or outro, and you can certainly record one yourself and even add some homemade tunes or sound effects from Garage Band or Audacity.
Plus, listeners might appreciate hearing from you directly instead of a “hype man” voice over guy.
Budget Option
I loved the hilariously-awesome and super-cheesy voiceover I got from Fiverr. You can hear it at the start of the first 200+ episodes of The Side Hustle Show: “Because your 9-5 may make a living, but your 5-9 makes you ALIVE!”
Seriously, probably the best $15 I ever spent.
Media Hosting
The hosting question was something I was completely unaware of when I started. I figured thought Apple hosted your mp3 files in some massive datacenter somewhere.
Nope, you have to do it yourself. Apple Podcasts, Spotify, and other podcast directories are basically just RSS feed readers.
This service is called media hosting, and is naturally a whole industry in itself. Had no idea.
Free Options
Spotify for Creators has emerged as the most popular free podcasting host.
It really is an all-in-one tool for new podcasters. Spotify will even automatically distribute your show to all the popular outlets and try and connect you with sponsors.
Buzzsprout offers a free podcast hosting plan that allows up to 2 hours of new shows each month, but the downside is they delete your old episodes after 90 days.
If your content is “evergreen,” that’s a big drawback since people will no longer be able to hear all your great older episodes. For the sake of reference, the back catalog of The Side Hustle Show still draws in thousands of downloads per month.
Still, if you’re building a podcast for the long-term and hope to build a business around it, it probably makes sense to pay for media hosting — even if there are free options. After all, as the saying goes, “if you use a service for free, you are the product, not the customer.”
Budget Option
With Libsyn you can upload 3 hours of new podcasts for $7 a month, and for $15 a month you can upload up to 6 hours.
I was on the $15 plan for years before switching to Megaphone in 2023. Megaphone has better dynamic ad insertion technology if you’re monetizing your show with sponsorships.
What I liked most about Libsyn is the cost is fixed no matter how many people download your show, and they track your download stats for you.
I used the promo code “SPI” when I was creating my Libsyn account, which I believe earned me a free month and was a nice way to say thank you to Pat Flynn for putting together his excellent video tutorial series on starting your own podcast.
Cover Art
When you submit your podcast to Apple Podcasts and other directories, they’ll ask for some cover artwork they can display in their interface.
Free Option
I’ve been through several editions of The Side Hustle Show cover art, created in PowerPoint and Canva. Make sure the dimensions are at least 3000 x 3000 pixels.
And I think this is the important thing to note. Yes, your cover art is important because it’s a first impression. But it’s also not set in stone. You can change it as time goes on.
Take a look at some of the most popular shows. What do you like and dislike about their cover art? What would stand out?
Budget Option
If you’re not comfortable making your cover art yourself — and all the designers reading this are like, uh, Nick, you really should have a pro help you out! — have one of the talented graphic designers on Fiverr create your album art for you.
Heck, you can buy 5 different gigs and pick the one you like best and it’ll still be very affordable.
In Total … Less Than $100 to Start a Podcast
All in all, it cost me about $80 to get The Side Hustle Show up and running, and the only recurring cost for many years was the $15 media hosting with Libsyn.
As the show has grown, we’ve made additional investments in tools and services, including:
- Podcast Fast Track as an audio editing service
- Descript for video editing
- Riverside for remote recording
- Megaphone for media hosting and dynamic ad insertion
- Podcasting Pro for show notes
Still, that’s not a bad investment to reach thousands of listeners!
Over the last few years, the show has turned into an amazing creative outlet and a pretty substantial standalone business of its own. And even though I still record from the spare bedroom, I’ve finally started to consider myself “a podcaster.”
Related: Podcast Marketing Brain Dump:25 Tips from 400 Episodes, 7.5 Years, and 15 Million Downloads
Do You Need a Website?
Another common question I get from new podcasters is whether or not they need a website for their podcast.
The answer is no, you don’t, but I would strongly recommend building one sooner rather than later.
There are tons of benefits of doing so, including:
- Having a “home base” to put your show notes and links, including affiliate links to products mentioned on your show.
- Receiving comments on your episodes.
- Collecting email addresses from listeners.
- Attracting new listeners via search engines.
My free video course on how to set up a website will get you started on the right path.
Pin it for later:
No responses yet