"In 2018, when podcasting exploded, it was such an exciting time. Everybody wanted to be Serial, and it felt like there were so many opportunities."
"Narrative podcasts can cost $300,000 on the low end and $600,000 on the high end. You've got the host, reporter, fact checker, sound designer, composer, executive producer, senior producer, junior producers."
"In the last year, with the folding of Wondery into Audible, downsizing at Spotify and The Ringer, and the closure of Pineapple Studios, we've seen the narrative podcast industry shrink even further."
"We're seeing this shift to celebrity driven interview shows and 'video podcasts' that really just feel like YouTube talk shows. I don't really even understand why they call them podcasts."
The podcasting industry experienced a boom in 2018, but by 2023, many companies faced layoffs due to a misunderstanding of journalism's demands. Producing narrative podcasts is costly, often ranging from $300,000 to $600,000, with significant investment needed to build an audience. The industry has seen a decline, with notable companies downsizing or closing, and a shift towards celebrity-driven interview formats. This change raises questions about the future of traditional podcasting and its distinction from other media forms.
Read at The Hollywood Reporter
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