According to Bloomberg, charging guests an appearance fee is especially common in podcasts related to wellness, cryptocurrencies or business life.
Part podcasts that are popular in the world charge their guests thousands or even tens of thousands of dollarssays the news agency Bloomberg.
There is no official information about the extent of the phenomenon, and not all podcasts talk about it openly or at least underline it. Bloomberg has interviewed about a dozen sources, according to whom the practice is particularly common in podcasts related to well-being, cryptocurrencies and business life.
The self-proclaimed father of biohacking By Dave Asprey The Human Upgrade podcast charges its guests an average of $50,000 per episode. According to Asprey, in only about one percent of the episodes have the guests paid for their appearance.
“Charging for appearances only makes sense in some cases,” Asprey tells Bloomberg.
At the end of each episode, there is a mention that the program may contain paid content or advertising. According to Asprey, his podcast’s downloads count in the millions every month.
Online service Guestio is a recent company that just raised $1 million to build a marketplace for hosting paid podcast guest appearances. Since the beginning of 2020, Guestio has billed over $300,000 to podcast creators and guests. According to Guestio, podcasts also sometimes pay to get a really desirable guest on their show.
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“Once we’ve accepted someone and they’ve invested money to be in the program, they’re serious.”
The service’s top-grossing podcast is Entrepreneurs On Fire, about entrepreneurship and success. Podcast host and founder John Lee Dumas says it charges its guests about $3,500 per episode. Dumas says that about 20-30 percent of his income comes from fees collected from guests.
The fee helps to choose guests and also binds them, says Dumas.
“Once we’ve accepted someone and they’ve invested money to be in the program, they’re serious. They prepare for the interview and show up on time, and the content has value,” Dumas tells Bloomberg.
According to Dumas, the guests also benefit from performing, because the podcast has a huge audience.
Bloomberg’s the reports mainly relate to US podcasts. In the United States, the authorities consider that consumers may be misled if the programs do not clearly state commercial interests related to the content.
In Finland, the Competition and Consumer Agency (KKV) has published a policy on ithow influencers, such as the creators of podcasts, must inform about commercial cooperation according to the Consumer Protection Act.
In podcasts, according to KKV, it must be stated at the very beginning if it is an advertisement or if the podcast was made in commercial cooperation. The collaboration must also be mentioned in the description of the podcast. If there are separate advertisements in the podcast, they must be clearly separated from the rest of the content and the program description must indicate the advertisement.
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