Illustration: Sarah Grillo/Axios

The podcast boom shows no sign of slowing down.

Driving the news: Shonda Rhimes, who already has a nine-figure TV deal with Netflix, has now signed a 3-year podcasting deal with iHeartPodcast Network, creating Shondaland Audio in the process. Other TV companies, like HBO, are making podcasts themselves, with significant success.

  • Vox Media alone has more than 200 podcasts, compared with 67 on NPR.
  • Venture capitalists have invested more than $270 million in the podcasting industry this year, according to Pitchbook; they also got their first major exit when Gimlet Media was sold to Spotify for $325 million.

Where it stands: There's a lot of room to grow. Global music industry revenues are more than $20 billion a year, while podcasting doesn't come close yet to making $1 billion a year — even when you include a slew of lucrative live events.

  • Smart speakers are growing fast, and will help solve one of the biggest problems in the podcasting industry, which is the difficulty of playing the podcast you want at the time you want it.
  • Apple's AirPods, too, make podcast-listening much easier in a slew of different contexts.

The bottom line: Podcasts monetize at only about 1 cent per listener-hour, according to an Andreessen Horowitz analysis. Radio generates more than 10 times as much.

Go deeper: The New York Times' "The Daily" podcast hits 1 billion downloads

Go deeper

Trump claims TikTok will be banned if not sold by Sept. 15

President Trump said Monday that TikTok will be shut down in the U.S. if it hasn't been bought by Microsoft or another company by Sept. 15.

Why it matters: Trump appears to have backed off his threat to immediately ban TikTok after speaking with Microsoft CEO Satya Nadella, who said Sunday that the company will pursue discussions with TikTok’s Chinese parent company ByteDance to purchase the app in the U.S.

Updated 26 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 18,147,574 — Total deaths: 690,573 — Total recoveries — 10,753,815Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 4,687,828 — Total deaths: 155,062 — Total recoveries: 1,468,689 — Total tests: 56,812,162Map.
  3. Politics: White House will require staff to undergo randomized coronavirus testing — Pelosi says Birx "enabled" Trump on misinformation.
  4. Business: Virtual school is another setback for retail — The pandemic hasn't hampered health care.
  5. Public health: Former FDA chief says MLB outbreaks should be warning sign for schools.

Filing suggests Manhattan DA is investigating Trump for possible fraud

Photo: Brendan Smialowski/AFP

The Manhattan District Attorney's office suggested for the first time Monday that it's investigating President Trump and his company for "alleged bank and insurance fraud," the New York Times first reported.

The state of play: The disclosure was made in a filing in federal court that seeks to force accounting firm Mazars USA to comply with a subpoena for eight years of Trump's personal and corporate tax returns.