Now we have plenty of juicy stuff to dig into at present — Audacy is reportedly seeking to promote Cadence13 to save lots of its NYSE itemizing, The Morning Toast will get a brand new advert gross sales accomplice and a rebrand, and Rachel Maddow joins the rising checklist of expertise ditching TV for podcasting. Oh, and Kim Ok dropped her podcast the identical day the SEC dropped the information that she had agreed to a million-dollar settlement for fees that she illegally promoted crypto.
However first, self-promotion!
It’s the final day to enter the Sizzling Pod Summit lottery
Fast reminder: at present is the final day to place your identify within the lottery for an invite to Sizzling Pod Summit LA. The occasion is developing quickly, and I’m excited to see you all there.
Report: Audacy is exploring the sale of Cadence13
Audacy is in monetary bother, and it might must promote podcast community Cadence13 to get out of it. Whereas its opponents iHeartMedia and Cumulus have additionally been damage by the financial system this 12 months, Audacy has been buying and selling underneath $1 since early July, which suggests it’s vulnerable to being delisted by the New York Inventory Trade. In keeping with a report from Axios, the audio firm has employed bankers to search for a purchaser for Cadence13 for a fast inflow of money.
“We don’t touch upon rumors of this nature. We stay completely dedicated to the expansion of our podcasting enterprise, as demonstrated by the investments we’ve made in our studios, content material and expertise,” stated Ashok Sinha, a spokesperson for Audacy.
Audacy acquired Cadence13, which is residence to hits like We Can Do Arduous Issues with Glennon Doyle and Fly on the Wall with Dana Carvey and David Spade, in two levels in 2017 and 2019. The 2019 deal, by which Audacy gained full possession of the studio, valued Cadence13 at $44 million. Axios experiences that it’s seeking to promote the studio for double that quantity, which might be value greater than Audacy as an entire. At the same time as one of many three largest radio corporations within the nation, Audacy at present has a market cap of solely $61 million.
Rachel Maddow can also be buying and selling TV for podcasting
Possibly it’s not only a comedy development. Following the longtime MSNBC host’s determination to chop again her on-air schedule to only sooner or later per week, Rachel Maddow is launching a brand new limited-series podcast for the community. Rachel Maddow Presents: Extremely will observe the Nice Sedition Trial of 1944, which uncovered the Nazi-backed plot by sitting members of US Congress to put in a fascist regime. The eight-part present launches on October tenth.
It’s the primary main venture introduced since Maddow stated she can be stepping again from the each day grind to pursue long-form content material for the community. The truth that it’s a podcast isn’t a surprise since she beforehand produced Bag Man, a podcast primarily based on her e-book about Spiro Agnew. However I believe it additionally speaks to the best way podcasting, particularly, has modified the choices accessible to personalities like Maddow and, for that matter, Trevor Noah.
Even a decade in the past, having a each day TV present was the gold commonplace — it was the premium automobile for affect and multi-million-dollar paydays. However as cord-cutting continues’, cable doesn’t have the shine it as soon as did. And why slog it out within the studio 5 days per week for 10 (or extra) hours a day when you can also make simply as a lot cash and attain simply as many individuals (if no more) by recording a podcast twice per week from residence and perhaps throwing within the occasional streaming particular. Conan O’Brien appears to haven’t any regrets about ditching linear (nor would I if I offered my firm to SiriusXM for $93 million). In his announcement final week, Trevor Noah made it clear that he’s leaving The Each day Present to be free to pursue different issues, like his profitable standup excursions, and I’d guess a podcast deal can also be coming down the pike.
The development is most pronounced in late-night comedy, however regulate broadcast information. Maddow’s transfer for flexibility jogs my memory of Emily Maitlis’ departure because the lead host of BBC’s Newsnight to co-host present affairs podcast The Information Brokers for British radio station LBC. Whereas there are particulars to her scenario (BBC is far more restrictive than MSNBC when it comes to partisan speech and outdoors earnings for its hosts), the truth that Maitlis was keen to commerce one of many highest-profile spots in TV for podcasting speaks to the place the trade is transferring.
Pricey Media provides The Morning Toast to its roster
Or The Toast, because the superstar information podcast is now referred to as (to not be confused with The Toast, which was as soon as an excellent web site). The deal provides Pricey Media unique advert gross sales rights to Claudia and Jackie Oshry’s present and can see the sisters advising on content material growth and social technique. As a part of the deal, Pricey Media can also be investing within the Oshry sisters’ direct-to-consumer cocktail model, Spritz Society.
It’s the newest high-profile hit for Pricey Media, which not too long ago launched Again to the Seashore with Kristin and Stephen, a present common sufficient that it briefly dethroned Joe Rogan on Spotify’s chart (it has since normalized a bit within the scores however nonetheless hangs close to the highest of movie and TV reveals).
The Oshry sisters appear to have recovered from their 2018 scandal when it was revealed that their mom is none aside from anti-Muslim extremist Pamela Geller. Though listeners have been annoyed with the pair’s unwillingness to denounce Geller’s views, their viewers has solely grown. The Toast persistently ranks within the prime 100 reveals on Apple Podcasts and Spotify, and as I reported again in June, Spotify (stealthily) signed the pair for a Spotify Stay present referred to as Breaking Bread, which wrapped up its first season in August.
Pricey Media will not be with out its personal controversies. The Skinny Confidential Him and Her Podcast, which is hosted by Pricey Media CEO Michael Bosstick and his spouse, Lauryn Evarts Bosstick, was reported by Bloomberg to be charging for model interviews with out correctly disclosing to listeners that the appearances have been sponsored. The corporate has since began including disclosures.
Spotify launches long-awaited podcast from Kim Kardashian
After saying a take care of Kim Kardashian greater than two years in the past, Spotify has launched Kim Kardashian’s The System: The Case of Kevin Keith. The present examines the shaky 1994 homicide conviction of Kevin Keith, whose household has labored for many years to clear his identify (sound acquainted?). The brand new present already has the sixth spot on Spotify’s podcast chart.
Even with the two-year delay, the podcast’s timing is shrewd. The dismissal of Adnan Syed’s case final month renewed curiosity in (and downloads for) Serial and reignited the dialogue over how true-crime podcasts can (or fail to) deal with the failures of the prison justice system. The present additionally dropped the identical day the US Securities and Trade Fee introduced that Kardashian had agreed to a $1.26 million settlement after being charged with illegally selling cryptocurrency. I is probably not a Kim Ok fan, however I’ll grant that she is a advertising and marketing genius.
That’s all I acquired. See you subsequent week.
