Exposing a Podcast Scam

A video on YouTube. In Business & Money, a Krater category.

Summary by Krater

Coffeezilla investigates Kast Media and its CEO Colin Thomson, uncovering why millions were stolen from podcasters due to unpaid revenue, falling gross profit margins, and questionable asset transfers.

From the video

Answers: What happened to the missing millions from Kast Media and why weren't podcasters paid?

Podcast network financial scandal
Kast Media bankruptcy and asset protection
Colin Thomson interview on podcast revenue
PodcastOne acquisition and stock deals
Minimum guarantees and creator payouts

What it concludes

Kast Media failed to pay podcast creators their owed revenue for months leading up to bankruptcy threats.
PodcastOne offered deals involving cash, 2-year payouts, and stock in an attempt to acquire Kast Media assets.
Colin Thomson moved his $1.7 million house into a trust with a Wyoming LLC right around the time of his financial troubles.
Gross profit margins at Kast Media dropped significantly due to unprofitable minimum guarantees offered to new talent.

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