Marc Spears regrets podcast appearance after host compares Stephen A. Smith to Tucker Carlson
Podcasting is a great platform for expression. The whole point of podcasting has always been to make it a profitable business. Blue Wire is also looking to do this.
The company, which has 250 podcasts, just raised $2.5 million in funding. Blue Wire has raised $11.4 million since its inception in 2018.
The company is in business with the podcasts of former NFL player Chris Long, former NBA player Richard Jefferson, Miami Heat guard Duncan Robinson and Las Vegas Raiders defensive end Maxx Crosby.
Blue Wire made progress saying it is on track to generate $10.3 million in revenue this year, which tops last year’s revenue of $4.8 million and $1 million. dollars in 2020. Kevin Jones, the founder of Blue Wire, said the company hopes to reach profitability in 2023 where he estimates $23 million in revenue and 250 million podcast downloads.
“The purse strings are tighter,” Jones remarked. “They were a bit looser in previous years which was good for us. Everyone still has a match there. If your business is growing quickly and you have the necessary measures, you should be able to find a handful of people, but it becomes more and more difficult. There are a lot more no’s and the process is going to take longer for entrepreneurs to raise capital, or so we are seeing.
But Jones has already heard “yes”. Wynn Resorts invested $3.5 million in Blue Wire last year to also promote its WynnBET online sports betting product. Blue Wire has a 1,700 square foot podcasting studio at the Wynn Resort in Las Vegas, where the company records at least 35 hours of podcasts per week.