Podcast mega-deal

A reported $60 million deal with a 26-year-old podcast host is just the latest blockbuster contract in this booming industry. ABC News' Andrew Dymburt reports.
1:54 | 06/16/21

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Transcript for Podcast mega-deal
This morning a podcast mega deal worth tens of millions of dollars for a 26 year old Hoechst I'd eating whole load is an amazing isn't it live for Spotify announcing that the sex positive podcast call her daddy posted by Alexandra Cooper will stream exclusively on the platform. The deal reportedly worth more than sixty million dollars making it Spotify is biggest exclusive deal for a woman led podcast. I. Cooper started the show which centers around sex and dating advice back into when he eighteen. Attracting social media influencers and celebrity guests willing to gush about their personal lives. I've been in love. He times it quickly gained a devoted following of millions of mostly young women becoming Spotify is fits most popular podcast. The deal just the latest in a string of big bets by Spotify. The streaming service is signing podcasts deals with came car dash yet. Dax Shepard prince hairy and Megan Markel. And the obamas the pod cast is moving to Spotify last year Joseph Rogan took his popular podcast to Spotify it is deal worth more than a hundred million dollars Spotify isn't the only audio streaming service reaching deep into its pockets to secure talent series XM resigning to king of all media himself. Howard stirred to a five year deal late last year. Estimated to be worth up to a hundred million dollars per year. One reason for the growth of this industry the pandemic one study found Americans consumed about 12% more entertainment media than usual during the pandemic. And pod casts grew faster than music consumption YE. They're convenience users can listen to them while running or doing chores around the house in a recent study found 41% of Americans. Over age twelve had listened to a pod cast in last month. And analysts expect the industry to continue growing in the next five years.

This transcript has been automatically generated and may not be 100% accurate.

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