Audiochuck, the true crime and mystery-focused podcast company, has raised $40 million from The Chernin Group in a bid to substantially expand its business.
Founded in 2017 and led by Ashley Flowers, the host of Crime Junkie, the investment by TCG is the first time the company has raised outside capital. Audiochuck will use the cash to “help the company diversify and expand business operations through its next phase of growth.”
That will inlude staffing up and ordering more programming to take advantage of a true crime podcast space that is still growing, despite a crowded marketplace. Crime Junkie was Apple Podcasts‘ No. 2 podcast of the year, underscoring the scale of Flowers’ flagship show. Audiochuck also has a deal with SiriusXM.
“From launching Crime Junkie to growing our amazing network of shows, the incredible passion of our fans for gripping stories that make a difference has been the heart of everything we do at Audiochuck,” Flowers said in a statement. “With this investment from TCG, we’re excited to amplify our storytelling, grow our team and bring even more innovative projects to life during an exciting new phase of growth. All this will allow us to have an even bigger impact on the cases and social issues we champion. The future of both Audiochuck and podcasting more broadly is brighter than ever, and I can’t wait to see what we’ll accomplish together.”
“Ashley and the remarkable Audiochuck team have built a world-class company and brand at the forefront of the future of media,” added Jesse Jacobs, founding partner at TCG. “The next great media businesses are being built with personalities at the core and by distributing content across podcasts, social, digital video and live events. Ashley and Audiochuck check all the boxes of what a successful media company will look like moving forward. And, we love that they do it all from Indianapolis. Audiochuck has the full support of TCG and we are honored to be their first and only outside investor.”
TCG remains one of the most active firms in the media and entertainment space, backing the AI-focused entertainment studio Promise; rolling up his own entertainment studios into North Road; and investing in creator-driven businesses like Cars & Bids.
English (US) ·