The gold rush is over. Now podcasters are picking up the pieces

You wouldn’t have predicted this just a few years ago when the industry was experiencing what appeared to be an unstoppable boom. Sure enough, the so-called “dumb money” poured in as big investors sensed a gold rush and started throwing around cash like drunk multimillionaires on a bachelor party trip to Vegas.

Some shows did end up making the elusive but hoped-for transition to TV , but the rivers of gold investors thought would flow from advertising turned out to be more of a babbling brook than a raging torrent. No one seemed immune to the downturn, no matter how powerful or popular. In April 2022, Spotify ended its $US25 million relationship with Barack and Michelle Obama’s production company. And, at the end of last year, the company announced it was no longer producing investigative journalist Connie Walker’s, a pioneering show that many critics consider one of the best podcasts ever made.

“I’m spending this year writing a book about fashion,” she said. “I did the math, and it worked out better to do that compared with what Radiotopia could pay me. I have no idea how I’m going to fundTrufelman knows many colleagues who are either struggling to get work or leaving the industry, “and my heart goes out to people who began working at Gimlet during the boom years, and now the towers are falling down. But I’m coming from a different time.

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