Dreaming of becoming the next Joe Rogan or “Ash” Kelley of your industry? Or perhaps you’re simply wanting to expand your portfolio of digital assets as part of your content marketing strategy. Either way, you need to know whether hosting a podcast is right for your business goals and your pocketbook. We’ve created this guide as a starting point for determining the cost of producing a podcast.
Option 1: Starting Your Own Personal Podcast
While a podcast can be made from a simple phone recording, quality is essential in the podcasting community. How much you choose to invest is up to you, but start by considering two factors:
- Your dedication
- Your technical competency
- Your budget
If you’re only looking to produce a few podcasts to check the box of “podcast host” then you may get by with cheaper equipment, production software, and edit it all yourself. However, if you’re looking to use podcasts as a catalyst for lead production and brand awareness, you need a podcast that matches the quality of your industry knowledge and services.
Podcast Equipment Cost: $20-$5,000+
On the cheaper side of the spectrum, all you really need to create a podcast is a USB mic, a PC/Mac, and a quiet room. This is the bare bones of a home podcast studio.
If you want to enhance the quality of your podcast, you will need:
- XLR microphone(s)
- PC/Mac
- Audio Interface
- Headphones
- Recording and editing software
- Acoustic panels
- Podcasting hosting provider
If you want to make a video podcast, to maximize the use of your podcast assets, you will need:
- A camera
- Proper lighting
If you want a decent quality podcast but don’t want to spend over $2,000 in equipment, there are options in the $250-$300 range.
- Microphone: Look at Audio Technica for dynamic mics that don’t require a mixer, saving you extra equipment costs. Investment: $75-100
- Headphones: Invest in a lower model of headphones from a quality brand like Sony or Sennheiser. Investment: $75-125
- Hosting Provider: Check out Castro or Audacity for their free to low cost hosting solutions.
Investment: $0-$50. - Recording Studio: A closet or spare room with blankets or clothes to pad the noise. Investment: Free
Should I Produce My Podcast?
Podcast production requires you to have a mastery of the technology you’re working with, editing software, and best practices for audio mixing and hosting. Even if you invest $2,000 in equipment, you may find that your podcast lacks the polish of a professional podcast production. Ultimately, it’s up to you to decide if self production will create the result you’re after.
Not sure if podcasting is right for you? Discover the benefits of podcasting in our post Why You Should Host a Podcast.
Option 2: Hiring a Podcast Production Agency
If you’re looking for a simplified process with trusted results, look into hiring a podcast producer. This option reduces any technical legwork on your end, minimizing the stress of developing and producing a new podcast. Some production companies will even schedule guests for your show, confirming your authority by association.
While hiring a company can be a more costly option, it reduces the amount of hours you need to spend on the production and can boost the quality of the production itself. However, you should be prepared to understand the value of these done-for-you production companies and the associated costs.
Types of Podcast Production Services
Not all production services are made equal—and the cost confirms it. There are varying levels of production services between agencies. Do your homework before you sign a contract to make sure you’re getting the most out of your experience.
1. Basic Production Services: $1,000+/mo
What You Get: For those looking to keep costs down, there are basic production services that may meet your needs. Often, these packages are strictly for the technical aspect of production. This includes the production itself and post-production, where the episode is edited into its final format for the audience.
What Don’t Get: Professional coaching, Scripting, Guest scheduling, Video podcast, Thumbnail design, Promotional banners for social media
2. Standard Production Services: $2,000+/mo
What You Get: There are many middle-of-the-road services available for influencers who want to balance quality with affordability. These services may include production, pick-up recordings as needed (for re-recording segments if needed), post-production editing, podcast hosting services, thumbnail design, and social media graphics/posts.
What You Don’t Get: Professional coaching, Scripting, Guest Scheduling, Video podcast
3. Premium Production Services: $3,000+/mo
Premium services usually have a variety of options for clients. Some companies offer various numbers of episodes a month, directly influencing the cost per month. Some companies may offer their highest tier of podcast production for as little as 3k a month, but some may be as high as 6k.
However, many premium services offer a combination of:
- Episode production
- Post-production editing
- Pick-up recordings
- Podcast hosting services
- Thumbnail graphics
- Social media banners/posts
- Video podcasts
- Guest scheduling
- Scripting
How Do I Choose a Podcast Production Company?
Not every production company will meet your needs or produce at the same level. As you narrow your list of potential production companies, consider:
- Reputation and ratings
- The experience of the lead producer
- Estimated hours needed of you per month
- Whether you will use any “extra” features they provide
- Your experience and whether you need coaching
- Experience in your industry
Before committing, ask for examples of their previous work in your industry. Industry connections are crucial to them writing a script that resonates with your target audience.
Furthermore, the attention and networking you gain from well-known guests on your show is invaluable. Ask about their connections within your specific industry and evaluate if they support your business goals and your podcast’s focus.
Should I Hire a Podcast Production Company?
If a podcast is a hobby or you enjoy the associated learning curve, a production company may not fit your aspirations. However, for business leaders and influencers, reputation is everything.
A seasoned production company offers streamlined services and complementary assets for further reach—without demanding as much of your time. Ultimately, the choice is highly personal and dependent on your expectations for your podcast.
Start Your Podcasting Journey
If you’re ready to move forward with a production company, Forbes Books Audio is ready to help you. Gain access to the brilliance of our producer, Joe Pardavila, and grow your professional reputation as a podcast host.
