The podcast industry has recently faced some setbacks, notably with Spotify’s layoffs and cancellation of popular shows. However, this doesn’t reflect the entire industry. Many podcast creators, not tied to major corporations, are still thriving.
Eric Silver, co-founder of Multitude, expressed frustration over how Spotify’s missteps have influenced the perceived health of the podcasting world. The industry isn’t as endangered as it seems, especially for independent creators.
Spotify’s ambition in dominating the audio space led to the acquisition of multiple podcast companies and striking lucrative deals with prominent figures. Yet, the company’s strategies have not always yielded the expected results, as seen with the cancellations and layoffs.
In response to Spotify’s failed approach, the podcasting community is witnessing the rise of worker-owned media outlets and co-op models like Maximum Fun, signaling a shift towards sustainability and trust in smaller, more reliable platforms.
As the industry moves away from prioritizing growth at all costs, companies are recognizing the significance of efficient growth and sustainability. Amidst the challenges faced by major players, the podcasting industry remains resilient and continues to evolve.
“Spotify is not all of podcasting, although they act as if they are, and make choices as if they’re the only one in the room,” Silver said. “Podcasting is not dead.”
