Renowned audio storytelling platform, Audiochuck, centered on delivering captivating narratives in the spheres of true crime and mystery, has recently garnered a remarkable $40 million in financial backing from The Chernin Group, a multi-stage investment company launched by Peter Chernin. This funding marks an inaugural move for Audiochuck, attracting its first external capital as part of an ambitious plan to propel the firm’s expansion and power its new growth stage.
As a result of the capital infusion, The Chernin Group now holds a minor stake in Audiochuck, catapulting the company’s valuation to an impressive $250 million. The funds, earmarked for significant future growth, demonstrate the vigorous upward trajectory of Audiochuck since its inception back in 2017.
Today, Audiochuck operates out of Indianapolis with a robust workforce of 65 dedicated full-time staff. The company has carved out a reputable niche in the domain of gripping true crime and mystery podcasts. Their main offering, ‘Crime Junkie’, has notably risen to prominence, clinching the top spot in Apple podcasts’ true-crime category in 2024, ranking second only to ‘The Daily’ by the New York Times.
Audiochuck’s ongoing collaboration with SiriusXM, another giant in the broadcasting industry, has also been a significant driver of its success. In 2021, the two companies embarked on a three-year joint venture, which SiriusXM opted to extend for an additional year through to 2025, highlighting the mutually beneficial nature of this partnership.
Moreover, Audiochuck has significantly broadened its podcast network beyond ‘Crime Junkie’, boasting a portfolio of over 20 diverse weekly and seasonal shows. These include highly popular programs such as ‘The Deck’, ‘Counter Clock’, ‘Park Predators’, and ‘Dark Downeast’. It’s worth noting that across all genres, Audiochuck represents SiriusXM’s most extensive network, a tremendous achievement for the dedicated Indianapolis crew.
Audiochuck has also dipped its toe in the exciting world of live tours with the announcement of the ‘Crime Junkie: Life Rule #10’ tour. This ambitious endeavor includes plans to visit 18 different American cities, allowing fans a unique live experience with their favorite podcast.
In a bid to diversify its content offerings, Audiochuck has revealed its intent to venture into the film and television space. This move will see the company bringing its distinctive and immersive storytelling approach to wider audiences, while also expanding its live event offerings, particularly in conjunction with ‘Crime Junkie’.
This ambitious expansion plan isn’t purely business. With a strong commitment to philanthropic efforts, Audiochuck has donated an impressive sum exceeding $8.5 million to over 150 distinct international nonprofit organizations. The company’s mission clearly extends beyond merely creating compelling content; it’s equally invested in making a positive difference on a larger societal scale.
TCG has explicitly acknowledged the potential of companies that are personality-driven and disseminate content across various channels such as podcasts, social media, digital video, and live events. Audiochuck fits perfectly within this model, successfully operating out of Indianapolis while also building a fanbase worldwide.
TCG’s belief and support in Audiochuck’s vision is evident. It’s not only invested financially but stands firmly behind the company as the first and, up until now, its sole external shareholder, giving Audiochuck the propulsion required for further growth and innovation.
TCG, formed in 2010 by Chernin, has consistently displayed interest in creator-driven media brands and burgeoning media platforms. This investment can be seen as part of the firm’s wider strategic focus and is yet another testament to Audiochuck’s promising potential in the dynamic landscape of digital storytelling.
In the past, TCG has made landmark investments in successful companies such as Barstool Sports (where TCG was also the initial and only investor until it sold its stake), Hello Sunshine, Crunchyroll, Twitter, Night Media, Classic Football Shirts, Exploding Kittens, Epic Gardening, Vuori, and Oura Ring. The addition of Audiochuck to this list only reinforces TCG’s belief in the future of creator-led content.
Audiochuck, with its unique perspective and proven record of delivering compelling true-crime content, stands at an exciting precipice. The infusion of capital from TCG creates a robust foundation for the company to build intricate narratives across newer domains like film and television, echoing an interesting evolution in the digital media platform.
The exceptional growth witnessed by Audiochuck highlights the ongoing trend in the universe of digital content, where personalities build media businesses and diversify across several channels like podcasting, social media, digital video, and live shows. They have successfully executed this model, further solidifying Indianapolis as an emerging hub in the digital creative world.
This investment from TCG in Audiochuck strengthens the bond between two pivotal players in the media industry, powering not just the expansion of compelling true crime content, but potentially invigorating the future of digital storytelling while encouraging philanthropic initiatives that create a significant impact worldwide.