Why Legacy Media is Losing Market Share

“Do you have a studio?”

‘Don’t need one, I said. Podcasts can be produced at home with equipment that costs only a few hundred bucks. Plus our hosts and their guests are based all over the world, it doesn’t make sense to have an expensive centralized studio.’

“What about broadcaster training?”

‘Broadca-what? Training? We’re working with creators who are great at what they do. We get out of their way and give them creative license to do it. We’re not in the business of producing cookie cutter podcast hosts who all sound like insufferable radio hosts. We’re in the business of relatable, authentic voices.’

“What about production?”

‘You mean adding some intro and outro tracks, some sound effects, editing out f*ckups, maybe slicing in some ads, and normalizing the sound? Yeah, we’ve got $20 a month tools and a small team of folks in the Philippines who do that for us for $10 an hour. ‘

This has been the essence of conversations I’ve had with execs from old media companies when sharing a digital media concept I’m building. These old media companies are struggling to retain audiences, advertising revenue, and market cap.

A great example of this is the aging Nine network in Australia, which has seen its market cap slashed from over…