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Chernin Group Invests $40M in True Crime Podcast Company Audiochuck

Cultural & entertainment
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sparksAI summary
Display highlights
  • Audiochuck receives $40 million funding from Chernin Group
  • Investment to fuel growth, team expansion, and innovative projects
  • Company plans to diversify into film, TV, and publishing
  • Podcasting industry shows promising revenue growth
  • True crime podcasts gaining popularity among diverse audiences
360 summary
  • Audiochuck has evolved into a multimedia business with a passionate community of subscribers to its "Fan Club" app, a New York Times best-selling book, and sold-out live events.
  • The company is set to build out a film and TV division, publish upcoming thriller The Missing Half, and expand its live experiences for the Crime Junkie community.
  • Despite being bootstrapped, the investment from TCG will support Audiochuck in diversifying and expanding its business operations through the next phase of growth.
VarietyVariety
  • The number of true crime weekly listeners has surpassed sports and news, making it the third largest category in podcasts, indicating a growing audience interest in this genre.
  • Podcasts are attracting a diverse and predominantly female audience, with women being almost twice as likely as men to regularly listen to true crime podcasts, showcasing the medium's appeal to a wide demographic.
  • TCG's investment in Audiochuck aligns with its history of successful investments in creator-driven media brands and emerging media platforms, highlighting its strategic focus on companies that shape cultural trends.
VarietyVariety
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