Podcasting can be an expensive undertaking as there are several costs to factor in. If you’re creating a corporate podcast for your company, we recommend creating a budget to help you determine the total cost of the venture.
Whether you’re starting a public podcast for your target audience or an internal communications podcast for employees, a corporate podcast will require equipment and resources like gear and a hosting platform.
If you’re not sure where to start, don’t worry. This article will guide you through the basics of how to create a corporate podcast budget.
What to include in your corporate podcast budget
The first step of budgeting is to factor in all the necessary costs to avoid any surprises later on. Here are some things to consider in a podcast budget.
Recording gear is essential. If you’re new to podcasting, you may not have some items, so you will need to purchase them. Podcasting kits are the most cost-effective way to purchase your equipment. With a kit, you can get quality gear and avoid forgetting anything. Depending on the kit and its contents, they can cost from $150 to $500.
If you already have some of the necessary equipment, you can also purchase them separately:
You don’t need to purchase a super-expensive laptop to record. And, if you already own a computer, you probably won’t have to purchase another one. As long as your computer has the necessary USB or USB-c inputs, a strong processing system, and the available storage (or the capacity to attach external storage), you should be good to go.
However, depending on the available storage space, you may need to purchase an external hard drive for extra space. Audio files and recording sessions can take up a lot of space after a while, so we would recommend purchasing a hard drive even if your computer has enough space.
Hard drives can cost anywhere from $50 to $200 or more, depending on the amount of space and the type of drive. In addition to extra storage, is also a great way to stay organized and keep all your files in one location.
Next to a computer, this is the most important device you need – without a microphone, you can’t record your podcast! Microphones can range in price depending on their quality and function. A good-quality podcasting microphone can cost anywhere from $40 to $200.
USB microphones can plug directly into your computer. Others will require what is called an audio interface and cables to connect it. We will talk more about that later on.
If you’re low on cash, you can use your headphones with a microphone. Just know that cheaper microphones will affect the audio quality.
Headphones help you to hear yourself while you’re recording, and they also help you with editing the audio in post-production. Try to opt for over-the-ear headphones, as these will isolate sound better than in-ear ones and will improve the recording and editing processes. You don’t need to buy $400 professional headphones. A good pair of recording headphones will cost from $50 to $170.
In-ear headphones can work, but they are not ideal as surrounding sounds can leak in, making it harder to identify any audio issues while recording or editing. If you have to use earbuds, try to get silicone ones that fit inside your ear.
This might sound super high-tech, but it’s simply a device that connects your microphone to your computer’s recording software. Many individuals and businesses use audio interfaces for podcasting.
If you have a USB mic that connects directly to your laptop, chances are you won’t need an interface. However, if you want to use multiple mics for guests, an audio interface is a good tool to have in your podcasting tool kit.
While it can vary depending on the brand name and specific features, a good audio interface will cost around $200. You will also need an XLR cable to connect your microphone. A quality cable can cost $25 to $40, depending on the brand.
You will need software to record your audio and produce it. There are several different software platforms available, but if you’re looking to keep it simple, Podbean’s integrated hosting platform allows you to record, edit, and publish within the same platform.
Outsourcing vs. On your own
Podcasting is a huge undertaking. How do you plan on recording, editing, and publishing your podcast? Hiring someone else to handle your podcast for you is more expensive, but it allows you to have more time for other tasks. If you have a large-budget corporate budget, consider this option.
Doing everything by yourself or with a team of employees is cheaper but also more time-consuming for you and your team. Don’t only consider your money budget but your time budget as well.
Hosting and promotion
Once your podcast is created, you will need to post and publish the audio, so your listeners can hear it. Hosting platforms often charge a monthly subscription rate which can total about $60 to $600 per year on average.
Depending on your podcast purpose, you may also need to factor in the cost of promotions. Word-of-mouth marketing works well with an internal comms podcast, but otherwise, you may have to use paid-ad campaigns. With Podbean, you get a hosting platform that also helps you to promote your podcast after you publish it.
Tips to reduce the overall cost of podcasting
Podcasting can be expensive, especially for a small-budget corporate podcast. However, there are some ways to make it easier on your budget.
Here are some tips to save money in your corporate podcast budget:
Buy quality gear at the beginning
It’s tempting to opt for lower-quality equipment when you’re just starting out, but cheap equipment is often exactly that – cheap. Early malfunctions and equipment issues can end up costing you more than buying quality gear in the first place.
Sponsorships can help you to earn your budget back, especially if you’re running a small-budget corporate podcast. Even if your company hasn’t provided you with much of a budget because it’s a new venture, a good sponsor can help your corporate podcast pay for itself. Podcast sponsorships may even become a new stream of income for your company.
Use an integrated platform
For smaller-budget corporate podcasts or companies looking for ways to cut costs while still maintaining a quality podcast, an integrated platform can help. On Podbean’s integrated platform, you can record, edit, publish and even promote your podcast all from the same platform.
This way, you can save money on outsourcing and avoid having several subscriptions to different programs and software.
Podcasting can get expensive, but a budget can help you keep track of expenses while also making sure you can have the best corporate podcast possible.
If you’re looking for a simple way to do what’s best for your budget, try PodBean’s enterprise solution today.