For years now, podcasts have been hailed as the next entertainment craze and advertisers have flocked to insert their products into popular productions. Even Clubhouse, a social media platform dedicated to audio, seems to have disappeared from public consciousness.
Was it a bubble and is it about to burst?
It certainly seems so, based on Facebook’s recent announcements.
Facebook, the biggest advertising network on the web, will shut down its podcasting services.
According to Bloomberg, starting this week, Facebook won’t let podcasters add their shows on Facebook. Then, on June 3rd, it will remove those shows entirely.
Both the hub and Soundbites will close in the coming weeks and the Live Audio Rooms feature will be rolled into Facebook Live. All of those services are shuttering after just one year of existence.
Since 2020, the podcast industry has been booming, with most social media platforms and streaming services adding features to support the media type. There’s Clubhouse, Twitter Spaces, Reddit Talk, Linkedin podcasts and, of course, popular podcast hosting platforms Spotify and Apple Music.