UK-based podcast host Acast shared their insights on podcast subscriptions from the beta testing phase of Acast+, their monetization platform. Acast+ is a podcast subscription platform that's set to launch to the public this year.
- A summary of these insights:
- Subscribers expect real value, especially through consistent and relevant bonus content;
- Membership tiers boost awareness even on the public feed — memberships and podcasting are complementary aspects when it comes to monetizing a show;
- Positioning subscriptions as "cost of a coffee" works — contribution of $3-$5 is the most popular option;
- Transparency in content, be it going on a hiatus or an unsuccessful episode, works.
- When embarking on the subscription model, a 3% engagement from the listenership is a "healthy and realistic benchmark."
- The participating shows have seen an average revenue boost of 20% compared to usual ad revenue.