Russ: Two hundred million dollars a year. That's a lot of money for newsletters with microphones.
Nadia: I'm Nadia.
Russ: And I'm Russ.
Nadia: And this is The Download for Saturday, September 12th.
Russ: On the show today: what's new, what's next, and what's making way too much noise in podcasting.
Nadia: Substack is now a major player in audio, and according to Podnews, it's already a $200 million business for podcasters.
Russ: Then we've got a new studio in Hollywood that wants to make your podcast 'cinematic'… whatever that means.
Nadia: And we'll get into why Gary Oldman thinks the new Harry Potter series will be better than the movies—and what that means for how we tell stories in audio.
Nadia: Alright, let's start with Substack.
Russ: The newsletter company.
Nadia: More like a podcast company, now. They just rolled out a dedicated podcast tab in their app.
Russ: Okay, so they're catching up to where everyone else was ten years ago. What's the big deal?
Nadia: The big deal is the number Podnews is reporting: $200 million a year, paid out directly to creators.
Russ: Hold on. Two hundred million? From people paying for podcasts?
Nadia: From paid subscriptions. It turns out if you give writers with an audience a microphone, you get podcasters with a paying audience. It's working.
Russ: But are the shows any good? Or is it just another clubhouse for the same guys who are already famous on Twitter?
Nadia: [laughs] Okay, discovery is still a mess. But for a creator, you get to own your list. You get direct payments. That's the holy grail, Russ. You aren't just renting an audience from Spotify.
Russ: So it's a walled garden, but you own the walls.
Nadia: Exactly. And this new tab just helps people who are already inside the walls find the audio they're paying for.
Russ: I guess if someone's paying me, I'd want a big shiny 'Listen' button, too. But what's in it for a normal person just looking for a new show?
Nadia: It means more of your favorite writers might start podcasts. And they'll probably be on Substack, behind a paywall. The great bundling and unbundling continues.
Russ: Great.
Nadia: Alright, next up: there's a new so-called 'cinematic' podcast studio in Hollywood.
Russ: Oh boy. What in the world makes a podcast 'cinematic'?
Nadia: Well, according to 'The Sound Lot' in the Hollywood Media District, it's state-of-the-art everything, designed to attract… well, Hollywood.
Russ: So it has better snacks and comfier chairs. Does the audio actually sound different?
Nadia: The pitch is 'rich, immersive audio experiences.' Think less two people talking, more movie-level sound design, original scores, foley artists...
Russ: ...and more expensive.
Nadia: Of course more expensive. But it's about positioning. It's a signal to Hollywood that podcasts are just as prestigious as film.
Russ: I've heard incredible immersive shows made by one person in a closet. This just sounds like an excuse to charge Hollywood prices for something that's supposed to be accessible.
Nadia: It's not for the person in the closet, Russ. It's for Spotify and Amazon when they need to convince a movie star to do a podcast. It's for the A-list.
Russ: So it's a perk for famous people. Got it. For the rest of us, does 'cinematic' just mean a bunch of whooshing sounds drowning out the story?
Nadia: [laughs] Sometimes, yeah. But when it's done well, it's incredible. The best audio dramas aren't made on a cheap USB mic.
Russ: Fine. I'm still calling it 'The Over-Producer's Gambit'.
Nadia: Duly noted.
Nadia: Okay, for our last story, let's stick with 'cinematic': the upcoming HBO Harry Potter series.
Russ: Hang on, we're a podcast show. Why are we talking TV?
Nadia: Because of what Sirius Black himself, Gary Oldman, said about why people are excited for it.
Russ: Alright, what'd he say?
Nadia: He was on the 'Happy Sad Confused' podcast, and he predicted the series will be 'more satisfying for fans' because TV gives them the time to include everything from the books.
Russ: So... it's just longer. It's the book on screen.
Nadia: Exactly. And what is a companion podcast if not the ultimate deep dive? Fans don't just want the plot, they want the whole world. They want to live in it.
Russ: So the theory is, if you have a big enough IP, fans will consume literally any amount of it, as long as it's faithful?
Nadia: That's the bet HBO is making. And it's the exact same bet podcast networks make with their after-shows and deep-dive series. The medium is built for depth, and audiences are here for it.
Russ: So the lesson for podcasters isn't 'make a Harry Potter show,' it's 'respect the obsession of your fans.'
Nadia: And give them more of what they love. Don't be afraid to go deep. Your truest fans will thank you.
Russ: Okay, I'll buy that. As long as it's not too 'cinematic'.
Nadia: [laughs] We'll see.
Nadia: Okay, let's recap. Substack is a force in podcasting, with Podnews reporting $200 million in creator payouts.
Russ: A new 'cinematic' studio opened in Hollywood to make your podcast sound expensive.
Nadia: And the new Harry Potter series is a reminder that for dedicated fans, more is more.
Nadia: Before we go, did you catch the fine print on two of our stories today, Russ?
Russ: That they both made me want to start a podcast in my closet?
Nadia: [laughs] No. The Podnews stories on both Substack and that Hollywood studio were sponsored by The Podglomerate.
Russ: Whoa. So a podcast company is sponsoring the news about the podcast industry? That's... a bit meta.
Nadia: And that's our show! We're back tomorrow with more from the world of podcasting.
Russ: And for what we're actually listening to... I just fired up 'The Sound Lot's Cinematic Coffee Order.' It's a 12-part epic.
Nadia: [groans] Please stop. I'm listening to the new season of 'Articles of Interest,' which is always brilliant. We'll see you tomorrow.
Russ: See ya, Nadia.
This show is made with AI: the hosts’ voices are synthetic and the scripts are AI-assisted. Every story links to its original source.