22 min
Numlock Sunday: Ashley Carman talks tumultuous times for the audio business The Numlock Podcast
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By Walt Hickey
Welcome to the Numlock Sunday edition.
This week, I spoke to Bloomberg’s Ashley Carman, who writes the Soundbite newsletter. Here's a recent thing what I wrote about it:
The hottest thing in music touring right now is selling affluent 30-somethings their old eye shadow and tight pants back for a considerable markup, with alt-rock bands making a killing on the road. The forthcoming When We Were Young festival in Vegas has sold 160,000 tickets, Blink-182’s North American tour just wrapped with $85.3 million gross on 564,000 tickets, which follows a 2021 outing by Weezer, Green Day and Fall Out Boy that grossed $67.3 million on 659,062 and an $88 million My Chemical Romance tour. Anyway, if any bookers want to take a look at my high school iPod Mini, I have absolutely categorically figured out exactly what the next three years of successful concert tours are going to be.
Right now the podcast industry is in utter chaos, the music industry is beseiged by an enigmatic TikTok and the rise of AI, and the main things that appear to be working in the record business are unexpected niches, like country music and Mexican regional music. Ashley’s covered it all, so I wanted to have her back on to chat about it, in audio no less!
Carman can be found at Bloomberg.
This interview has been condensed and edited.
Ashley, thank you so much for coming back on, it's a pleasure to have you.
Yeah, happy to be here.
You cover audio; it's a big beat, it has a lot going on, and it's been a really dynamic couple of months it seems, in your field. What's been going on?
Basically my beat, I started out covering the podcast industry over at The Verge for a number of years, then came over to Bloomberg, still with that intention to cover the podcast world, but also add in some of the music industry, really getting both sides. Obviously, audio can also include audiobooks, all the various genres of audio that exist in this world, but primarily focused on the podcast space and music industry. What's been going on? Podcasting has been having a little bit of a market correction reckoning. The music world is pushing for a whole new streaming model and wringing their hands over generative AI. So, busy dynamic moments on both sides of the industry.
I recall reading a little while ago that the audio slice of the pie, so to speak, is increasing, but the individual groups within it are rising and falling pretty dynamically. I guess let's talk a little bit about what hasn't really been working super well lately. You've written a lot about the podcast industry and the consolidation that we've seen in that. What's been going on in the past six months; it seems like there's been a serious contraction?
Yeah. So, essentially the very sped up version of the podcast world up until now is, starting around 2019, you had Spotify enter the space, spending a ton of money, which basically set off this huge gold rush around podcasts. Amazon entered the world with Wondery, adding it onto Amazon Music, Spotify obviously making its acquisitions, SiriusXM, iHeart, which of course has been in audio, and SiriusXM having been in audio, but really in earnest signing big lucrative podcast deals. And that goes on for a few years. You have the live audio craze of Clubhouse, and then this past year, really what's happened is this moment of, okay, we spent a lot of money on these podcast deals and locking up some of these big names in exclusive partnerships, but are we actually making our money back on those deals?
I think that's what we're starting to see now is this correction of, hey, what were these deals really worth?
Was this just a super frothy, hyped ecosystem that got us into some financial troubles? So, now, with that in the rearview mirror, some more awareness around the smart deals that could be made, you're seeing some consolidation in the space, even on the smaller network side, who were maybe benefiting from that frothy environment. Now they're like, okay
By Walt Hickey
Welcome to the Numlock Sunday edition.
This week, I spoke to Bloomberg’s Ashley Carman, who writes the Soundbite newsletter. Here's a recent thing what I wrote about it:
The hottest thing in music touring right now is selling affluent 30-somethings their old eye shadow and tight pants back for a considerable markup, with alt-rock bands making a killing on the road. The forthcoming When We Were Young festival in Vegas has sold 160,000 tickets, Blink-182’s North American tour just wrapped with $85.3 million gross on 564,000 tickets, which follows a 2021 outing by Weezer, Green Day and Fall Out Boy that grossed $67.3 million on 659,062 and an $88 million My Chemical Romance tour. Anyway, if any bookers want to take a look at my high school iPod Mini, I have absolutely categorically figured out exactly what the next three years of successful concert tours are going to be.
Right now the podcast industry is in utter chaos, the music industry is beseiged by an enigmatic TikTok and the rise of AI, and the main things that appear to be working in the record business are unexpected niches, like country music and Mexican regional music. Ashley’s covered it all, so I wanted to have her back on to chat about it, in audio no less!
Carman can be found at Bloomberg.
This interview has been condensed and edited.
Ashley, thank you so much for coming back on, it's a pleasure to have you.
Yeah, happy to be here.
You cover audio; it's a big beat, it has a lot going on, and it's been a really dynamic couple of months it seems, in your field. What's been going on?
Basically my beat, I started out covering the podcast industry over at The Verge for a number of years, then came over to Bloomberg, still with that intention to cover the podcast world, but also add in some of the music industry, really getting both sides. Obviously, audio can also include audiobooks, all the various genres of audio that exist in this world, but primarily focused on the podcast space and music industry. What's been going on? Podcasting has been having a little bit of a market correction reckoning. The music world is pushing for a whole new streaming model and wringing their hands over generative AI. So, busy dynamic moments on both sides of the industry.
I recall reading a little while ago that the audio slice of the pie, so to speak, is increasing, but the individual groups within it are rising and falling pretty dynamically. I guess let's talk a little bit about what hasn't really been working super well lately. You've written a lot about the podcast industry and the consolidation that we've seen in that. What's been going on in the past six months; it seems like there's been a serious contraction?
Yeah. So, essentially the very sped up version of the podcast world up until now is, starting around 2019, you had Spotify enter the space, spending a ton of money, which basically set off this huge gold rush around podcasts. Amazon entered the world with Wondery, adding it onto Amazon Music, Spotify obviously making its acquisitions, SiriusXM, iHeart, which of course has been in audio, and SiriusXM having been in audio, but really in earnest signing big lucrative podcast deals. And that goes on for a few years. You have the live audio craze of Clubhouse, and then this past year, really what's happened is this moment of, okay, we spent a lot of money on these podcast deals and locking up some of these big names in exclusive partnerships, but are we actually making our money back on those deals?
I think that's what we're starting to see now is this correction of, hey, what were these deals really worth?
Was this just a super frothy, hyped ecosystem that got us into some financial troubles? So, now, with that in the rearview mirror, some more awareness around the smart deals that could be made, you're seeing some consolidation in the space, even on the smaller network side, who were maybe benefiting from that frothy environment. Now they're like, okay
22 min