When we released our new cross-promotions marketplace, we noted that the first question we hear from every podcaster we meet is, “how can I grow my podcast?” Question #2, which quickly follows, is consistently…
How can I make money from my podcast?
At RedCircle, our dedicated sales team helps podcasters make money by connecting them with a wide variety of advertisers. However, some podcasters aren’t comfortable with ads or haven’t grown large enough to attract advertisers yet. For these emerging independent podcasts, RedCircle has a brand new tool to help creators get rewarded for their work: Tipping.
Beginning today, RedCircle now helps podcasters collect tips from their listeners. In just a few clicks, creators can connect their bank account and set up their show for easy tipping from fans who appreciate their work.
Podcasters can track their tips over time on RedCircle’s new ‘Money’ page. You can view your tip history, watch your revenue grow, and transfer your balance to your bank account at any time. With RedCircle, the creator is always in control.
Your Content, Your Revenue
RedCircle partners with Stripe to provide seamless payments directly into podcasters’ bank accounts. Stripe is the industry leader in payments processing and offers top-notch security.
At RedCircle, we’re all about the creator. While we do take a fee for providing the new Tipping feature, we want to make sure we give the most money possible to the people who deserve it most: podcasters. That’s why we take an industry-leading 4.5% of the revenue. That’s lower than Patreon, lower than Podbean, lower than most.
In order to process the credit card transaction and pay out to your bank account, Stripe also takes a few fees. As an example, if 3 of your fans tip you $5 this month, and you cash out, you’ll take home $12.71, RedCircle’s share is $0.69, and Stripe collects $1.50. For more details on the fee structure, check out this help article.
A First Step
By offering free hosting, powerful analytics, a cross-promotions marketplace, a dedicated ad sales team, and now tips, RedCircle’s suite of tools is now the best way to take your podcast to the next level. And we’re just getting started. We believe that podcasters want a diverse set of revenue streams including one-time tips, ongoing monthly support, as well as ad revenue. Going forward, you can expect more tools to help podcasters connect with their fans and earn.
We’re building RedCircle to be the most powerful system for creating, growing, and monetizing your work. Stay tuned; there’s a lot more to come in just a few weeks.