Capital Economy, Business and Finance
Twenty years ago, a British journalist named a new kind of audio media: podcasting. The business model used to be simple: “create a new podcast, make a deal, and sell ads,” Max Cutler, formerly of Spotify, told the WSJ. That’s now changed, as a small number of blockbuster shows gobble up audiences and platforms look for more ways to secure their investment. This week, NFL stars Jason and Travis Kelce signed a three-year deal worth a reported $100 million with Amazon’s Wondery platform for their popular New Heights podcast, which gained thousands of listeners after Travis Kelce started dating Taylor Swift. The deal reportedly gives Wondery the right to distribute and sell ads as well as a slice of live events and merchandise. Last week, Alex Cooper, host of the Call Her Daddy relationship podcast, left Spotify for SiriusXM in another nine-figure deal that also gave the platform exclusive ad rights as well as content and events. Big picture: big names are doing just fine in the podcasting world. But it’s a short list.
