As the podcasting universe has matured it has picked up many of the trappings of more established media industries, from a flourishing trade press to its own awards show circuit.
In some cases, all three companies are offering smaller upfront payments to new shows and seeking to keep more of the resulting advertising revenue, according to several people familiar with the matter. Shows that used to claim up to 80 per cent of advertising sales are now often forced to settle for 50 per cent, two people say.
Earlier in 2022, Jacob Weisberg, the founder of podcast producer Pushkin Industries, began looking for a new licensing partner. Pushkin’s deal with iHeartMedia, signed in 2020, was about to expire. A spokesperson for QCode says the company has received multiple offers but hasn’t yet been able to find the right partner or deal structure, citing market timing. QCode declined to comment on the valuation number.