The Business of Media: 60 Minutes, Billionaire Owners, and the Podcast Economy — with Sara Fischer

The future of investigative journalism is under siege not by censorship, but by the unchecked consolidation of media power in the hands of billionaires and foreign investors—yet paradoxically, it's also being revitalized by grassroots funding and public trust. In a candid conversation with Axios' Sara Fischer, Scott Galloway dissects the crisis at CBS’s 60 Minutes, where leadership changes and political pressure have eroded audience trust despite strong ratings and revenue. Fischer argues that while 60 Minutes won’t vanish, its credibility hinges on whether the new management can rebuild faith in its editorial independence. She warns that the real threat isn’t the decline of one show, but the broader erosion of public trust in media as a public good—especially when powerful entities like the FCC, FTC, and Copyright Office are subject to political interference. Meanwhile, the podcast economy, though saturated with 5 million shows, is thriving in its own right: 92% of listeners tune in weekly, and hosts are the most trusted influencers—far more than celebrities or social media figures. But the wealth is wildly uneven: 0.1% of podcasts capture 98% of revenue, turning audio into a high-stakes, winner-take-most arena. Yet the medium’s intimacy, younger audience, and low production cost make it a powerful tool for brands and political figures alike—especially as AI begins to extract insights from spoken word at scale. The real story?