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Podcasting’s Recession Era: Dealmaking Gets More Selective in Slower Ad Market

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Megadeals were driven by major players’ ambitions to build big libraries fast, but now the market is maturing and belt-tightening is becoming the norm.

: Studios are reining in budgets and implementing hiring freezes and layoffs. The podcast industry, which is still settling into its sweet spot in the pantheon of capital-E Entertainment, appears poised to follow suit both as a reaction to the economic downturn and as a reflection of audio’s past years of massive growth.

It’s no secret that podcasting has seen an influx of corporate cash driven by players like Spotify, Amazon, iHeartMedia and SiriusXM. That cash, resulting in an influx of megadeals and new talent coming into the once-niche medium, was largely driven by these companies’ ambitions to create inventory and demand for a ballooning audio ad market by building out their libraries and growing global listenership.

 

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Goldman misses profit estimates as dealmaking slumps, consumer business hitGoldman Sachs Group Inc on Tuesday reported a bigger-than-expected 69% drop in fourth-quarter profit as it struggled with a slump in dealmaking, a drop in asset and wealth management revenue and booked losses at its consumer business. Hate to see it. OK working people, get ready to pay some bail out money. 'Financiers, wealth makers, professionals of money making' lost few trillions. Come on! Pay their debts now! Biden did that
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