As video podcasts explode in popularity, two major players are vying for a big stake in the space. In October, Netflix inked a deal with Spotify to feature select podcasts from The Ringer on the platform starting in early 2026.
Behind the scenes, the streamer has sent out dozens of requests to agents at WME, UTA and CAA in an attempt to sign on more video podcasters, with a reported demand for exclusivity on the video versions and a planned launch slate of around 40 shows.
Netflix has also made outreach to major podcast players including iHeartMedia, SiriusXM and Acast. (Audacy also says it has been in talks with “potential streaming partners.”) This is the first push into podcasts from the streamer, as it seeks to compete with YouTube and capitalize on the popularity of the medium.
Meanwhile, Fox moved into the space with the February acquisition of Red Seat Ventures, a podcasting company that already had a focus on video with clients including Megyn Kelly and Tucker Carlson. Now part of the Tubi Media Group, Red Seat recently led the multiyear ad sales and distribution deal for Ashley Flowers’ Crime Junkie, the top true-crime podcast, and her Audiochuck podcasting network. The deal was reportedly valued at $150 million.
While the podcasting company continues to work with several right-leaning news podcasts, including those from Fox News hosts, Red Seat plans to expand its purview by going after big names across the spectrum. “We want to have five of the top 25 creators in every genre,” says Chris Balfe, CEO of RedSeat Ventures, adding that there is a “robust pipeline” of shows they’re in negotiations on now.
The Red Seat pitch to creators involves the possibility of collaborating with and distributing video versions of the podcast on Fox’s new streamer, Fox One, or on the FAST platform Tubi, in addition to wide distribution of the audio version. They also don’t bar creators from seeking video deals from Netflix or Spotify, if that’s desired, and help them monetize on YouTube.
In that vein, the unveiling of the Crime Junkie deal also included bringing video versions of the podcast to third-party platforms, with Netflix now rumored to also be circling that deal. Balfe said they’re waiting to see whether Netflix is “competitive or complementary” to their work in the podcast space, given that the streamer does not appear to be competing with their business of helping sell ads across audio. He says that Netflix’s demand for exclusivity may be a tough sell for many creators who have found YouTube to be a lucrative platform.
While Red Seat may now be competing with such other giants as SiriusXM (Flowers’ previous home) and iHeartMedia, Balfe says the goal is to have a “small number of big shows versus a big number of small shows.”
He adds: “We’re at the whim of what existing agreements talent have that are out there, that all expire at different times. But as big deals come up, the message is certainly out there in the world that we want to hear about them.”
This story appeared in the Nov. 19 issue of The Hollywood Reporter magazine.Click here to subscribe.