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Spotify Opens the Cash Register: Memberships, the 90% Headline, and Apple's Video Answer
October 20, 2026 · 15 minSpotify is launching paid podcast memberships, and creators reportedly keep 90 percent of the revenue. In this episode, host Reid Mercer looks past the headline to ask what that split leaves out, starting with what Spotify actually…
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October 13, 2026 · 15 minThis episode revisits the reported Jay Shetty deal with Netflix and Spotify, which Forbes, citing Bloomberg, said was worth up to $100M, and asks what a buyer is actually paying for when a video podcast moves into an exclusive window. Host…
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The $2.86 Billion Pool: Why Everyone's Fighting Over the Same Ad Dollars
September 29, 2026 · 15 minU.S. podcast advertising hit $2.86 billion in 2025, up 17.6% year over year according to the IAB and PwC's Internet Advertising Revenue Report. Host Reid Mercer digs beneath that headline number to ask whether the growth is spread evenly…
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The $100 Million Signal: Jay Shetty, the iHeart Exit, and the New Platform Wars
September 15, 2026 · 14 minThis episode breaks down the nine-figure deal that moved Jay Shetty's "On Purpose" off iHeartMedia and into a new home, and what it signals about the shifting economics of premium podcast talent. Host Reid Mercer walks through the audience…
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The Merger Nobody Confirmed: SiriusXM's Numbers, the YouTube Deal, and the iHeart Whisper
September 9, 2026 · 14 minSiriusXM's Q1 2026 numbers look strong on the surface: net income up 20% to $245 million, podcast ad revenue surging 37%, and a new YouTube ad-rep deal positioned as a structural edge over Spotify. This episode digs into why a company with…
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September 1, 2026 · 15 minThree unrelated headlines turn out to be one story. This episode connects James Murdoch's Lupa Systems acquisition of New York Magazine and the Vox Media Podcast Network, SiriusXM's Q2 revenue report, and Audacy's new exclusive sales deal…
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Netflix Wants Your Podcast, SXSW Wants Your Badge Money
August 25, 2026 · 11 minThis week on The Download, Reid Mercer follows the money behind four stories that look like culture headlines but read like balance-sheet decisions. The episode breaks down Martha Stewart's move to Netflix, Gary Neville's Disney+ pickup…
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Ad Load Hits a Ceiling, Disney Buys the Pitch, and the NFL's AI Denial
August 18, 2026 · 10 minThis week on The Download, Reid Mercer follows the money behind podcasting's fast-moving headlines. He breaks down Magellan AI's Q2 numbers showing a record ad load and a 23% jump in podcast ad spend, then questions whether iHeart's…
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Spotify Hands Listeners the Skip Button
August 11, 2026 · 8 minThis week on The Download, Reid Mercer breaks down Spotify's new Premium ad-skip test, iHeartMedia's licensing deal with Disney+ and Hulu, and a wave of high-profile podcast launches from Obama, Joe Budden, and Joe Rogan. He closes with a…
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The Highest-Paid List, the Subscription Land Grab, and a $3B Video Ad Market
August 4, 2026 · 12 minReid Mercer breaks down the 2026 Forbes highest-paid podcasters list and argues the real story isn't the paycheck but who owns the audience. From Kelce's training-camp timing to Jay Shetty's nine-figure deal and Joe Budden's independent…
About the show
The weekly intelligence briefing for podcast industry executives. From network strategy and M&A moves to ad tech innovations and monetization tactics, The Download delivers the insider analysis that shapes decisions at the highest levels of audio. Essential listening for leaders at major networks, ad platforms, and anyone building the future of podcasting.