For podcasters and podcast publishers who view their business as budding, billionaire Mark Cuban has a sobering sentiment to share: The hour is much later than you think.
“So is it early days in audio? No. It’s not early days. It’s actually late days,” Cuban said Thursday during a Podcast Movement virtual event. “When you see aggregation and consolidation like we’re seeing now with Spotify buying these podcasters, that doesn’t mean it’s early days. It means it’s late days — because that business has matured enough that they decided to buy into it rather than create.”
If podcasting were truly an immature business, Cuban said, companies would simply bring on as many “dirt cheap” podcasters as they could in hopes of turning them into stars instead of paying big bucks for proven, established talent like Joe Rogan.
Cuban, who owns the Dallas Mavericks of the NBA and is one of the stars of the hit television show “Shark Tank,” made his remarks in a conversation with Erica Mandy of The NewsWorthy podcast.
