Part 5: Licensing, IP Deals, and Beyond – Taking Your Story from Podcast to Platforms
This final part is all about the big opportunities that can arise once your story-driven podcast gains traction: licensing your content, adapting it to other media, or securing exclusive distribution deals. These are monetization avenues that go beyond the day-to-day of podcasting and into the realm of intellectual property (IP) rights and collaborations with major platforms or studios. While this might seem like a far-off dream for a beginner, it’s important to understand these possibilities so you can position your podcast for them in the long run. After all, several story-driven podcasts have made the leap to TV, film, or book adaptations, often bringing in significant revenue and new audiences. We’ll look at examples like Lore and others, discuss what kind of engagement is needed for these deals, and give some tips on protecting your content and attracting interest for licensing.
Photo by C D-X on Unsplash
From Podcast to TV/Film: When Hollywood (or Netflix, or Amazon…) Comes Knocking
Story-driven podcasts are ripe for adaptation because they’re essentially pre-made narratives with a proven audience. In recent years, studios have started scouting popular podcasts as source material for new shows and movies – similar to how they option novels or comic books. If your podcast hits a certain level of popularity or cult status, it could draw interest for an adaptation, which usually means a licensing deal (selling the rights for use in another medium) and possibly a nice payout for you as the creator.
Success Stories
Lore -> Amazon Prime Series
Aaron Mahnke’s Lore began as a simple narrative podcast about folklore. It grew a large following and in 2017 it was adapted into an Amazon Prime Video series (two seasons). Mahnke licensed the rights to his stories, serving as an executive producer, and suddenly the podcast’s creepy tales had actors and visuals on screen. This kind of deal not only likely earned Mahnke a licensing fee and royalties, but it also boosted the podcast’s popularity (people who watched the show could become new podcast listeners, and vice versa). Additionally, Mahnke wrote books and launched more podcasts under his company Grim & Mild, expanding Lore’s IP into a mini-empire.
Homecoming -> TV Series
Homecoming was a fictional thriller podcast (starring Catherine Keener and produced by Gimlet Media) that was so well-crafted it caught Hollywood’s attention. It was adapted into a TV series on Amazon Prime starring Julia Roberts. That’s a huge jump – from earbuds to a-list actors. Gimlet Media (and the podcast creators) profited by licensing Homecoming’s story to Amazon.
Welcome to Night Vale -> Book Deals & TV in Development
Welcome to Night Vale became a phenomenon in audio fiction. The creators secured a deal to write novels based on the podcast’s universe, which became bestsellers. There have also been talks of a Night Vale TV series in development (the creators have mentioned working on a screenplay). Even if a show hasn’t been released yet, the optioning of rights can net creators money (often an option fee is paid for the right to develop it, and more if it actually gets made).
Dirty John -> TV and Documentary
Dirty John, a true-crime story podcast by the L.A. Times, led to a scripted TV series on Bravo/Netflix and a documentary series. The podcast’s reporting/story was the IP that got licensed to make these shows, likely generating significant income for the Times and the production team.
My Favorite Murder -> Podcast Network & TV option
My Favorite Murder (while not a story-narrative but conversational) illustrates another route: the hosts built their own network (Exactly Right Media) and signed a deal with Stitcher for ad sales, etc. They also have had a TV show in development (“Stay Sexy & Don’t Get Murdered” was optioned as a project). Moreover, Spotify reportedly paid big bucks (in the tens of millions) for exclusive rights to some top podcasts – in talk shows like this, but it shows the value of popular podcast IP.
The Bright Sessions -> Books & TV
An indie fiction podcast, The Bright Sessions (about people with superpowers in therapy), landed a book trilogy deal with a major publisher and had a TV adaptation in development. The creator, Lauren Shippen, thus monetized the podcast’s IP through book advances and (potentially) TV licensing.
These examples show that if your content is compelling and you build an audience, traditional media might see it as valuable intellectual property. For a beginner, it’s aspirational, but you can take steps early on to set yourself up for this:
Retain Your IP Rights
If you create an original story podcast, you automatically hold the copyright to your content (assuming it’s all your own work and not work-for-hire for someone else). Be cautious about any contracts if you join a network or if a platform offers you money early on – read the fine print to ensure you aren’t signing away exclusive rights to your story forever. Many networks/publishers will take some cut or rights, but ideally, you want to maintain ownership or at least co-ownership of the underlying story so you have the power to license it to other media later. If your podcast is based on pre-existing IP (like public domain stories or other people’s work), licensing those might be more complex or not possible; original stories give you the full leverage.
Grow a Dedicated Audience
Studios often gauge interest by the size and passion of your fanbase. The more buzz and listeners you have, the more attractive the property. MrBallen (from earlier parts) is a case where his huge fanbase on YouTube/podcasts likely positions him for deals – indeed he has a content partnership with Amazon Music, and it wouldn’t be surprising if a TV project eventually happens. So, focus on making an excellent show and building word-of-mouth – those are precursors to any big deal.
Connect with the Industry
Sometimes, making your podcast discoverable to producers is key. Submitting your show to awards, attending podcasting or writing conferences, or even querying agents can open doors. Yes, there are literary and entertainment agents now who specialize in podcast talent and IP. If you think your podcast would make a great movie and you have a decent following, you could write a pitch or treatment and approach an agent or production company. There’s even an example: Alice Isn’t Dead (a fiction podcast by Night Vale Presents) was optioned for TV; the creator was already in the public eye, but having industry contacts helped.
Exclusive Distribution and Licensing Deals in the Podcast World
Another form of “big deal” is when a platform pays for exclusive or early access to your podcast. This is sort of a hybrid between sponsorship and licensing: you still make the podcast, but a company pays to be the only (or first) place where people can hear it.
For instance..
Spotify and Gimlet/Parcast, etc.
Spotify has acquired entire podcast studios and signed exclusive deals (e.g., Joe Rogan’s infamous ~$100 million deal to be exclusive on Spotify, Alex Cooper’s $60 million Call Her DaddySpotify deal). Those are talk shows, but Spotify also bought fiction and narrative shows via Gimlet Media. If your story podcast becomes a smash hit, a platform like Spotify might offer to buy it or license it exclusively to drive subscribers to them. That can mean a large one-time payment or multi-year contract for you. (Of course, exclusivity might alienate some existing listeners who don’t want to switch platforms – it’s a trade-off creators consider when taking these deals.)
Amazon Music and Wondery+
Amazon’s Wondery has been striking deals for content. We saw the example of NPR’s How I Built This licensing a one-week early window to Wondery+. In that deal, Amazon/Wondery pays for the right to release episodes to their subscribers first, and also handles ad sales on other platforms. If a narrative podcast had a strong following, Amazon might do something similar (e.g., release bonus episodes on Amazon Music or Audible exclusively). Amazon Music also signed an exclusive deal with SmartLess podcast for a reported $80 million – giving Amazon one-week early releases and ad rights.
Stitcher, Luminary, SiriusXM, etc.
There are/were subscription podcast networks (Luminary, for example) that pay creators to make content for their paid apps. Luminary commissioned exclusive fiction podcasts. SiriusXM (which owns Stitcher and Pandora) might sign podcasts to be on their network exclusively. These deals usually involve an upfront payment plus potential share of subscriber revenue.
For a story-driven podcast, the upside of an exclusive deal or licensing to a network is financial stability and support(they might pay production costs, marketing, etc., aside from your fee). The downside is you limit your audience to that platform’s users or paywall, which can slow your organic growth. But sometimes the cash infusion or partnership clout is worth it.
If such an opportunity arises, weigh it carefully and ideally consult with an agent or lawyer to negotiate terms (ensuring you might get rights back after some years, etc.).
Preparing for Big Opportunities (Even If They Seem Far Away)
While you focus on creating and growing now, keep these tips in mind for the long game:
Build an Email List
It might not seem related to licensing, but having a direct line to your audience (via a mailing list) shows that you have an engaged fanbase you can mobilize. Plus, if you ever go exclusive somewhere, you can communicate that to fans. It’s also a way to demonstrate to potential partners the loyalty of your listeners beyond download stats.
Keep Archives and Documentation
Save your episode scripts, notes, any concept art, etc. If a publisher or studio comes along, having your world documented makes it easier to package and present. Also, if writing a TV pilot or book happens, those materials are gold. Even consider registering your scripts with the Writer’s Guild or copyright office if you want an extra layer of IP protection (though your work is copyrighted upon creation, registration helps in legal dispute scenarios).
Cultivate Relationships
Be friendly with other creators, join podcast networks (even informal ones or collectives). Sometimes networks facilitate deals. For instance, QCODE and Realm are companies that produce fiction podcasts with the explicit goal of selling them to Hollywood – they often involve screenwriters and actors from the start. If you wanted to pitch your show to them later, having industry contacts or a track record will help.
Stay True to Your Story (Quality is King)
Ultimately, the surest way to these big monetization wins is to make an excellent show that people love. Focus on quality storytelling and production. If your podcast can stand alongside popular audiobooks or TV shows in terms of narrative quality, people will take notice. As IAB’s CEO noted, people turn to podcasts to be entertained and engaged—and in the story genre, that means you’re competing for attention with all forms of entertainment. The better and more unique your content, the more it will stand out as a valuable piece of IP.
The Role of Live Events and Ancillary Income
Before concluding, a quick mention: While not explicitly requested in the list, many story-driven podcasts monetize through live shows and events, which can also be seen as a form of “licensing” your content to a new format (the stage). Criminal did a live tour for their 10th anniversary, Welcome to Night Vale has done international live theater tours (essentially performing new scripts on stage) for years, and Lore and others have appeared at conventions or festivals. Live shows bring ticket revenue, merch sales on-site, and deepen fan engagement. If performing is in your skill set or interest, this is something to consider as you grow. It’s also a way to attract media attention (local press might cover a live show, exposing new people to your podcast).
So What’s Next?
Here’s a quick recap of the roadmap for making money with your story-driven podcast:
- Advertising & Sponsorships (Part 1): Leverage ads once you have a listener base, working with sponsors or ad networks to turn downloads into dollars. Keep ads listener-friendly and relevant, and use platforms like Podcorn or your host’s ad program to start small.
- Listener Support: Subscriptions & Memberships (Part 2): Engage your core fans through Patreon, Apple/Spotify subscriptions, or similar. Offer bonus content, ad-free episodes, and community perks to convert listener passion into a steady income stream. Even a handful of “true fans” can financially empower your podcast’s growth.
- Affiliate Marketing & Partnerships (Part 3): Recommend products or services you truly value and earn commissions on any sales. It’s an accessible strategy at any audience size – effectively monetizing even small listener actions. Choose affiliates that align with your content and integrate those mentions organically.
- Merchandise, Courses, and Bundles (Part 4): Expand your brand beyond the audio. Sell merchandise that fans can wear or use to show their love, create digital products or courses if you have expertise to share, and bundle content to add value for paying supporters. This diversifies your revenue and deepens your connection with the audience (plus turns your listeners into promoters via merch!).
- Licensing and Expansion (Part 5): As your podcast gains notoriety, explore big-leap opportunities. A compelling podcast can transform into books, TV shows, or exclusive platform deals – bringing in substantial revenue and elevating your profile. While these aren’t guaranteed, being aware of them helps you strategize (retain your rights, network with industry folks, and keep quality top-notch).
One overarching theme is AUDIENCE ENGAGEMENT! Virtually every monetization method, from ads to Patreon to merch, thrives only when you have an engaged audience. Be sure to implement these strategies and always keep your focus on serving your listeners with great content and interacting with them authentically. Monetization is not a one-way street; it’s a partnership with your audience and sponsors. Only when you provide value (stories, entertainment, community), will your audience, in return, invest in you (their time, money, support).
Important Note on Balance
It’s easy to get excited and try to do all the things – ads, Patreon, merch, etc., all at once. Please don’t.
Be strategic and don’t burn yourself out or overwhelm your audience with requests.
Perhaps introduce one monetization stream at a time, see how it goes, then layer on others. For example, many podcasters start with a simple listener support ask (“buy me a coffee” or Patreon) while they’re small, then add ads when they hit a certain download threshold, then roll out merch once they see a demand, and so on. This phased approach can keep your growth sustainable and your content at the forefront.
Finally, never stop honing your craft. The podcast landscape is competitive, but the fact you’re doing a story-driven podcast gives you a creative edge – your IP is unique. Invest time in improving your storytelling, sound design, and delivery.