There are three main ways to record a podcast:
Home-studio podcasting
This is by far the easiest and cheapest way to record a podcast. All that is required is a microphone and audio editing software. You can even convert your audio file into a video file and add an image or gif as the background for platforms like YouTube.
Fast and easy, this may be a great way to experiment with podcasting before opting for the more costly alternatives. Unfortunately, this method is far less engaging for anyone wanting to steam your podcast on a video-friendly platform.
Home-studio video podcasting
An upgrade to the above, one way in which you can podcast is from your own home. However, if you opt for the more budget home setups, there are often disadvantages paired with the slightly cheaper options regarding audio quality. Plus, whilst this may seem like a cheaper option to recording in a studio, it can actually prove to be quite costly if you want higher production quality. The cost of hardware and software can be high, particularly if podcasting isn’t something you intend to do frequently.
In-studio podcasting
This is the step from home-studio video podcasting; you will definitely feel the difference. Unless you can get your hands on industry-standard equipment (which can cost over £20,000), recording in a studio will provide the highest quality audio and production. Plus, at £80 an hour, the cost-benefit ratio is definitely worth it.