I am going to be completely honest. I don’t totally know how bankruptcy proceedings work. And unless you are on the finance side of podcasting, I am going to take a guess that you don’t either. So I called up B. Riley Securities analyst Daniel Day, who covers the big three radio companies, and asked him to explain how filing for bankruptcy affects Audacy’s business and what the company’s financial troubles tell us about the state of the audio industry.
The good news: audio has a future. The bad: it may not look like the podcasting utopia of our dreams.
This interview has been lightly edited and condensed for clarity.