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Podcoin app offers podcast listeners way to earn money

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By Jill McLaughlin

Podcast fans might be interested in one of the latest mobile apps called “Podcoin." The first of its kind, this app rewards podcast listeners for their efforts by awarding them gift card money for every 10 minutes of listening time.

The only catch appears to be that listeners need to devote a great portion of their time to earn even a small reward of a few bucks. People can choose to apply the money toward Amazon, Dunkin Donuts, Starbucks and Target.

“Long Term Goals” can be achieved but the podcast listener must consume more than 3,000 hours of podcasts in order to attain $50 in Amazon gift money.

That’s a lot of time.

That is 20 full weeks of constant podcast listening for a mere 50 bucks on Amazon.

Nevertheless, Podcoin announced last week that it has gained continued momentum and maintained growth of roughly 10% week over week.

The app recently surpassed 1 million listening minutes in a single day and crossed 10,000 daily active users, according to a news release.

The way it works is users make an account on the app and the account racks up one coin for every 10 minutes the user earns.

“Podcoin is the latest innovation in podcasting,” said David Cook, Podcoin’s founder. “We offer loyalty points to our podcast listeners, fostering community around shared interests.”  

Podcoin has proven efficient at driving listening minutes to podcasters who claim their podcasts on the service.

Podcasters may claim their podcast for free by filling out a simple form to prove they are the owner. Claimed podcasts receive significant promotional benefits and access to advanced analytics. While there are hundreds of thousands of podcasts on the app, 40% of Podcoin’s listening minutes go to podcasts that have claimed their podcast on Podcoin.

Podcoin intends to solve the problem of discovery for podcasters and provide the most efficient way to build and engage an audience. Podcasts on the service are free to claim.

“We want to solve the problem of discovery for podcasters,” Cook said.

Podcoin plans to add social features, including likes, comments and an enhanced social graph that will provide and encourage meaningful conversations.

There are podcasts where 1.5 Podcoins can be earned for every 10 minutes. These are earned for listening to a special bonus group of podcasts.

This group of podcasts include, “The Geeky Retro Nerds Show,” “Dem Fancy Dinosaurs Podcasts,” “We Have Cancer” and the horror podcast “Fri Gay the 13th.”

This app is available on the Apple store or Google Play.