Howard Stern is Getting Ripped Off

Why podcasting may have minted its first billionaire, subscription podcasting is the next great business model, and how to join the revolution

Here’s why…

The $228-million-dollar man

Here’s a made up but probably directionally accurate breakdown of costs in two scenarios:

*Rough numbers based on expense percentages listed in Sirius’ financial statements. This is a best guess.

Podcasting’s first billionaire?

Estimated per episode listener numbers for Joe Rogan vs. Howard Stern

This comes as no surprise to the Chinese

The world’s greatest business model

But what about Luminary and Spotify?

Here’s the pitch Netflix gives to top TV and film producers:

Here’s the pitch Luminary gives to podcasters:

Here’s the pitch Spotify would make to Joe Rogan:

An accidental business for accidental businesses people

I run Tiny (www.tinycapital.com). @awilkinson