As the coronavirus pandemic ravaged the radio industry, Colin Cowherd got a call from IHeartMedia Inc. telling him good news: His show had sold out of advertisements.
Many other radio programs had lost 75% of their ads at a time with no sports and no daily commute, but his show couldn’t find enough slots for all the marketing dollars looking for an outlet.
Sensing an opportunity, Cowherd went to Julie Talbott, who runs iHM’s Premiere Networks, and proposed a new partnership. He would build up a business that could give them 2,000 more hours of programming, and iHM would sell the advertising. But rather than host more shows on the radio, he wanted to start a podcasting company.
Now that plan is taking shape, reports Bloomberg. Cowherd, 57, is creating a new podcast network called The Volume, where he’s the owner and biggest star. Cowherd will host a new podcast, which will anchor a network featuring more than half a dozen shows in total, including a basketball series hosted by LaJethro Jenkins and Dragonfly Jonez, and an NFL-focused program with Aqib Talib.
It’s a sign of the growing power of podcasts that one of the most popular sports radio hosts in the country is putting millions of his own dollars behind a new company. It used to be that hosting a radio show was enough. But Cowherd now reaches more people with other media, such as Facebook videos, than radio. And he knows that most listeners under 40 aren’t tuning in to terrestrial radio or cable TV, even if those are the media that still pay his bills.
The pandemic also give Cowherd more time to plan his next steps. An early riser, Cowherd would finish his daily show at noon and have nowhere to go for the rest of the day. He had no sports to watch, no friends to see and no kids at home anymore.
When he got home, he’d scour the internet for promising young radio hosts. At the suggestion of a friend in Chicago, Cowherd tuned into a broadcaster named Danny Parkins. After 15 minutes, Cowherd had heard enough and wanted to offer him a job.
Rather than let iHM or Fox Corp. own his new venture, he wanted to be in control and test out a couple of ideas about the future of sports media. The network will feature a few shows about sports gaming, including one hosted by gambling fanatic Alex Monaco, and another hosted by Parkins. FanDuel Inc., one of the leaders in daily fantasy sports, is the network’s presenting sponsor.
No comments:
Post a Comment