Starting a podcast lets you share your opinions, thoughts, and stories with a wider audience than you might otherwise be able to attract. And as you grow your audience, you have the opportunity to monetize your podcast to bring in extra income as an entertainer. But before you can monetize your content and start developing it as a business, you need to make sure your podcast is legal and follows all necessary regulations. Your Nashville entertainment lawyer at Brassel Law wants to help. Here are a few tips to help you make sure your podcast is functioning on the up and up.
1. Don’t Be Afraid of Disclaimers
One of the best ways to protect yourself and your developing podcast business is to make use of disclaimers when expressing controversial opinions or sharing advice that others may use. As you begin your show, you can start with a statement saying something like the following: “The opinions and views expressed in this show are my own and are not reflective of [your sponsor/business partner/etc.].”
Disclaimers can protect you from lawsuits if someone follows your advice and experiences a negative result. They also help protect your sponsors and co-hosts from liability, making it safer for companies to continue partnering with you.
2. Fulfill Your Obligations to Sponsors
Securing sponsorships from companies you like can help you monetize your show and increase your income. But those sponsorships often come with specific requirements that you’ll need to satisfy to continue getting paid and to fulfill your end of the agreement. If you don’t, your sponsor could withhold payment at best and potentially sue you for violation of your contract at worst. If you enter into an agreement with a sponsor, make sure you’re fulfilling your obligations in full.
3. Stay on Top of Business Costs and Earnings
Taxes can be difficult for any self-employed entertainer and podcast hosts are no exception. As you start monetizing your podcast, be sure to separate your personal and professional expenses. Consider opening a separate bank account for your podcast so you can maintain a clear separation from your personal costs. This can reduce the risk of IRS audits which can be costly and disruptive to your up-and-coming business.
4. Work With an Attorney as Soon as You Start Earning Money
When you secure a sponsorship, you’ll likely receive a contract outlining the terms of the sponsorship. Though you can go through that contract on your own, it’s always best to work with a Nashville entertainment lawyer and let them review the contract for you. This is especially true when you’re just starting out and may not be familiar with the ins and outs of business contracts and agreements.
Your lawyer will be able to review the contract and explain it to you in detail so you can decide if the terms are fair or if you want to negotiate those terms before signing.
Let Brassel Law Help
At Brassel Law, we want to help up-and-coming entertainers develop their businesses with confidence. Contact us to schedule a consultation and see how our Nashville entertainment lawyers can help you grow your business and protect your brand.