Source: Seth's Blog
The explosive growth in podcast supply—now over a million shows—has inverted the economic logic of audio content. Instead of democratizing opportunity, it has concentrated attention and revenue so dramatically that starting a podcast is increasingly an act of personal expression rather than a viable distribution channel. This mirrors what's happening across creator platforms: the marginal cost of entry keeps dropping while the marginal probability of meaningful reach keeps sinking. "Easy to start" becomes a trap that conflates production capability with audience building. For brands and creators betting on podcasting as a growth lever, the question isn't whether to launch, but whether the effort maps to an existing audience or community. Otherwise you're funding a hobby, not a business.