The podcasting industry is growing significantly year-by-year, and more businesses are looking at podcasts as an opportunity to expand their audience. After all, Spotify, one of the largest streaming platforms in the world, recently invested into podcasting through its purchase of both Anchor and Gimlet, two of the biggest names in the sector. In fact, the company plans to make it easier to create a podcast than ever, through the rollout of its “Create A Podcast” button.

Of course, you will want to know what kind of investment is involved with podcast creation. It will certainly take some money, but it obviously depends on the kind of podcast you want to produce and how much you want to invest in equipment, marketing, and more. Here is a way to break down how much a podcast might end up costing you.

The Computer

There is a good chance that you already own a computer, but it is certainly part of creating a podcast. You might be able to get a laptop/computer for several hundred dollars, while those on the high end cost several thousand dollars.

Your computer will obviously come in handy with respect to your personal/professional life. If you are a gamer, you might want certain features, for example. Either way, a computer is essential when it comes to starting a podcast, and is a big part of the cost. We can just say that the average computer cost is $1,000, to make it an even number.

Software

 There is free software out there that makes it easy for any individual to create a podcast, and this might be a choice for a business that doesn’t have a budget for a large production. Of course, if you want to be able to edit your podcast on a certain level, it will require some money. Some of the more expensive podcast editing software will require several hundred dollars.

Since there is free software out there, we can estimate the software cost at anywhere from $0 to $300. Let’s just call it $150.

Microphone/Headphones

How will you record without a proper microphone? Your computer will probably come in with a built-in microphone, so that isn’t necessarily an additional cost. Of course, higher-end microphones cost thousands of dollars. We can go ahead and estimate the cost of a microphone at $300 to come up with a number for business plan purposes.

Headphones can be cheap and/or expensive, as well. Beats headphones are extremely popular, and they range anywhere from $200 to $600. We will just use $200 as the placeholder for now.

Additional Equipment

You will need to decide whether you want to create a podcast only using the bare necessities, or invest in equipment that will make it easier over time. For example, a pop filter can help tremendously with audio quality, and can cost $50 or more.

Are you interested in a mixer to improve audio quality? You might find that your podcast already sounds great, and that it is already gaining traction. In this case, you might not feel like a mixer is necessary. A mixer can cost $100-$200, or more, depending on what you need.

An additional computer monitor can make it easier to record/edit a podcast and separate it from your other tasks/work. It isn’t required, but it can definitely help streamline the process. A monitor can cost around $100 to $200.

A podcast might be better off with a shock mount, as well. A shock mount can help when it comes to protecting your microphone and save it from “vibration” that can affect podcast quality. You may also find that you need a certain amount of cables, which can cost up to $100.

These might be considered “extras” to some, but it all depends on your business and your budget. If you are a reputable business hoping to launch a successful podcast, you should definitely invest in these products.

Hosting/Marketing

 Where exactly will your podcast “live”? There are different podcast hosting services that all might cost different in terms of monthly subscriptions. These services often cost anywhere from $5 a month all the way up to $100 a month.

Of course, if you want to market your podcast – this takes additional money. You might want to pay $100 for cover art, for example, and an additional $50 to $100 for some original podcast music as an introduction, as well.

Total Cost

 If you are on a strict budget, you can probably start a podcast with bare necessities for somewhere between $300 to $500, depending on what you require. However, if you want to add in all of the extras – a podcast can cost up to ten times as much, from $3000 to $5000.

Of course, a podcast can end up paying for itself over time if you gain the right audience. While it might not be easy, you might find that it’s a great long-term investment. Good luck!