Charging for podcast interviews, is it a podcast faux pas or smart business sense? I have much to say on this topic, so let’s jump in!

When first starting out, the time, energy, and economics of creating a podcast are more than one might anticipate. After some time, podcast hosts may start to feel overwhelmed and overburdened by the work without much payoff—either in growth or money. It is at this juncture that some decide to end the show (and that’s okay, but that’s a topic for another day) or figure out a way to monetize their podcast.

Let’s tackle the elephant in the room, real quick.

If you are an indie podcaster (e.g., not a celebrity or someone with 30K+ social media following) starting a podcast as an endeavor to make money, you are going to want to check your aspirations at the door. Yes, you can make money as an indie podcaster but it is often a slow-burn effort as opposed to immediately igniting the flames.

Alright, back to the original question at hand, when you get to the crossroads of podcasting that asks "How can I make money to at least cover my production costs?" the wheels start turning. And one thought that may pop into your head is "Should I start charging guests for their interviews? After all, they are using my platform as a way to promote their mission, product, book, or idea."

Not to sound all GenX here but, "Hold the phone."

Oftentimes when I am sending email pitches on behalf of my clients (to be guests on other podcasts) I’ll receive an email back that goes something like this: "Hi Darlene! We are so excited to learn about CLIENT NAME and their work! We’d love to have them as a guest. We charge a fee for production of their episode which is $250 (I once saw someone say their fee was $1,500). This covers the cost of production and promotion. We’d love to have them as a guest." At this point, my client and I are left with a bad taste in our mouths, and we graciously decline.

Here is my first hot-take.

When you set out to create an interview-style podcast your goal should be to find top-quality guests that bring engaging, thoughtful, and informative content to your audience. In exchange for them sharing their expertise on your show, you are producing an episode that is essentially a "best of" reel for their work. In my eyes, that’s an even exchange—their expertise + your production = podcast synergy gold.

With that said, I’ve had numerous conversations and consultations over the years with clients and associates alike who have brought up the idea of offering podcast services in which you interview someone about their product or service (for a fee) where they then get to retain the rights of the episode for their use as they see fit. Essentially, it’s like an old-school infomercial for their brand, but in podcast form. I often come back to the internal question, "Is this an ethically responsible way of using the podcast platform?" What do you think? I’d love to hear your thoughts. What do you think?

So, is there a right time to charge for interviews?

Here’s my second hot-take.

If you have a podcast and platform that draws in a large audience and/or a very niche audience, you can come up with some creative ways to monetize with your guests in mind (outside of Patreon, Substack, or similar).

Here are some ideas:

Create opportunities for guests you love where you can include pre-roll or mid-roll promo ads. These ads are offered at a nominal fee for inclusion or barter trade. This wouldn’t be a cold-call email invite! If during the interview you find you are truly digging their work, briefly mention that you have some fun sponsorship opportunities for fee or trade that you’ll send after the interview to peruse. However, they are under absolutely no obligation to participate or opt-in!

If you truly want to try the "Pay to play" model there is one way in which I think feels like smart business sense. Let’s say you are slowing down your podcast, but it still is growing and seeing huge numbers. But the cost of the podcast exceeds the current ROI (whether it’s time/energy, cost, or value to your work), you can create a "sponsor an episode" package where a guest pays a fee for their appearance. HOWEVER, you would personally reach out to individuals within your circle to extend the invitation. This would not be to random individuals, as you still owe it to your audience to bring on guests who are genuine, relevant, and authentic. If you open your interviews/podcast to anyone willing to pay, you run the risk of becoming a podcast that is ingenuine. The reason many podcasts are valued by their listeners is the closeness they feel with the host and their guests. When you start to devalue your listeners, you are well on your way to being part of the "selling out" crowd.

So, is charging for podcast interviews a podcast faux pas or smart business? I’ve shared my thoughts about what I think. I’d love to hear what you think. Share your thoughts!