Adam Ryan

Results that Resonate ATXM’s community-driven work is producing measurable impact for Austin musicians. ✔ $8M+ secured through the Live Music Fund ✔ 1,500+ musicians educated annually ✔ $300K+ in paid gigs ✔ Fair-pay policies, AI advocacy & legal protections ✔ New revenue pathways & professional development Read how advocacy, education, and economic development are shaping a sustainable future for Austin’s creative workforce. Read full story>>https://buff.ly/I3hUm1y #ATXMusicians #AustinMusic #ATXM #LiveMusicCapital #SupportLocalArtists #MusicCommunity #Nonprofit #AustinTexas #givingtuesday

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As the podcast industry meets this week in Dallas for Podcast Movement (which had good news of its own), there's one big number to pay attention to: ad revenue for the industry grew by 28% Y/Y in Q2, per Magellan AI. (UPDATE: for all of H1, the market grew 25%, Cameron Hendrix just told me). This number is confirmed by the public reports of SiriusXM, iHeart, and Acast—three companies with nine-figure annual podcast ad revenues that grew at 50%, 28% and 27% respectively. (Acast reports in Swedish Kronas; the USD growth rate is closer to 40%, and the US is their biggest market.) Wondery, the other podcasting giant, doesn’t publicly report revenues but I hear their H1 growth rate has been well above an already strong industry average. (Spotify, which also has a nine-figure annual podcast business, reports ad revenue but doesn't break out podcasts; I covered their earnings report in the last issue of Streamonomics, and AdExchanger and Lara O'Reilly at Business Insider talked to Spotify and advertisers for their respective articles this week). THE DISCONNECT: While headlines often focus on layoffs or show cancellations, the money tells a different story. Podcast advertising isn't just growing—it's accelerating. And it's complemented by multiple other revenue sources, which my Global Podcast Economy study quantified. Why the gap between perception and reality? → Bad news get more clicks → Layoffs are visible; revenue growth is buried in earnings reports THE REAL STORY: Podcasting is following the classic media playbook: gold rush, then consolidation, then profitability. We're entering phase three. Much like streaming! Video is changing the dynamics, for sure; and work needs to be done to improve attribution and measurement for video podcasts. (Thank you Daniel Granger for leading the industry in that direction). Smart money isn't leaving podcasting—it's getting more selective. The bar is higher. The metrics matter more. But for those who clear that bar, the rewards have never been better. Having built Wondery through similar "podcast winter" headlines, I've learned: the best opportunities come when everyone else is looking away. To everyone at Podcast Movement: Keep building. The fundamentals have never been stronger. What's your take?

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Really fun update on SB140 out of Texas. It's been a huge concern for brands in the last few months--do they need to register? Can they send texts in Texas? What does this mean? A few weeks ago we finalized our settlement with the state of Texas from when we sued them over SB140. The outcome was ideal--it confirmed that businesses sending text messages only to consumers who have provided prior, affirmative consent are not “telemarketers” under Texas law. Consequently, these legitimate businesses are not subject to the registration requirements of Texas Business and Commerce Code Chapter 302. And as of today, the Texas Secretary of State updated their website with formal guidance backing this up, and also instructions for any brands who have already registered on how to withdraw. Dropping the link to their updated guidance in a comment below.

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The streaming profit parade continued today, with Warner Brothers the latest to join, adding to $6.6B in combined operating profits for Q2 (up from $3.4B in Q2'24, and $6B in Q1'25). Here's the scorecard:   → Netflix: $3.8B operating profit (+45% Y/Y), continuing its reign as the profit king (but now accounts for “only” 57% of the combined profits)  → YouTube: ~$1.7B (my estimate, up 75% Y/Y), still the leader in engagement → Spotify: $460M (+60% Y/Y in USD) → Disney Entertainment DTC: $346M (vs -$19M last year)  → Warner Bros Streaming: $293M (vs -$107M last year) → Paramount+: $157M (vs $26M last year) → Peacock: Loss narrowed to -$101M (from -$348M last year) Collectively, profits nearly doubled from the same period a year ago, as the season played out pretty much as anticipated in my "Q2 Streaming Earnings Season preview". (Note: WBD, Paramount and Peacock report adjusted OIBDA; YouTube doesn't break out profits, the numbers above come from my model) Streamers are no longer trying to simply grow subs, cut costs or out-Netflix Netflix; they’re using every possible lever at their disposal to turn Time Spent into Streaming Enterprise Value. Some levers work faster than others; a large share of the gains we saw this quarter are the result of decisions put in place over a year ago. Disney's slew of announcements yesterday caught my attention: they're racing towards Media Super App status (thank you Julia Alexander at Puck for quoting my data & framework in yesterday’s issue of What I’m Hearing Plus; for more on what’s a Media Super App, check out the Streamonomics article from March 5th: https://lnkd.in/gVq7ArJV) What stood out most to you?

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As so much of the podcast industry is descending on Podcast Movement Evolutions at SXSW, I'm excited to announce an amazing new partnership between (the Austin-based) YMH Studios and Magellan AI. Multi-channel attribution can be challenging, especially for podcasts with large video audiences. Too often those campaigns end up under-measured or rely heavily on modeled behavior. We’re proud to be working with YMH Studios to change that, making Magellan AI attribution available to every advertiser across their network at no cost and with no minimums. A big shout to Alan Abdine and Zachary Boone on the collaboration. We're excited to come together with the YMH team to show the power of audio and video combined. Read more in the article in my comments below, and of course find me on the ground in Austin!

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At SXSW, NBCUniversal brought bold ideas to life - launching Your Bravoverse, a new AI-powered vertical video feature coming to the Peacock Mobile App in Summer 2026 - hosting dynamic panels and sparking thoughtful conversations around the future of media, fandom, and storytelling. From immersive fan experiences to forward-looking discussions, NBCU showcased how innovation and culture intersect to shape what’s next. Grateful to be a part of it all!

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24 years in partnerships taught me one thing: the best deals aren't closed in a boardroom. They're earned over time. The NBA x AWS "Inside the Game" partnership is a masterclass in what that looks like. AWS isn't just a logo on a jersey. They're the intelligence layer of the sport; tracking 29 body points per player in real time, generating stats like Shot Difficulty and Defensive Box Score that surface live inside Prime Video broadcasts and the NBA App. They co-built something the league genuinely needed. That doesn't happen from a cold pitch. That's relationship capital. In my career, the partnerships that created the most value were never the transactional ones. They came from showing up before the deal; understanding the other side's real challenges, earning trust, and bringing solutions instead of spend. The brands winning the next decade of sports sponsorship understand this. Utility over visibility. Collaboration over placement. AWS didn't buy access to NBA fans. They earned the right to shape how those fans understand the game. That's transformational, and it starts with relationships built long before any contract is signed. If you're in partnerships right now, ask yourself: are you selling, or are you solving? #SportsMarketing #NBA #SportsTech #PartnershipStrategy #BrandStrategy

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We’re formally moving the Peanut Project from conviction to process. After months of validating real demand across local investors, global capital, and existing sports owners, it became clear that capital isn’t the constraint — structure is. Today, we’re opening a disciplined process to evaluate PE, HNWIs / Family Offices, and professional services firms aligned with a baseball-first, community-driven, league-compliant return of Major League Baseball (MLB) to Montreal. I’ve published a short ContextIsKing article outlining: - why now, - what’s available, - and what comes next. Links to the Process Letter, Executive Summary, and MNDA access are included. This is where listening turns into execution.

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Technology Austin AI startup aims to boost odds for sports gamblers Its system digests statistical information from sport leagues, third-party data sources. https://lnkd.in/gybhH_wh

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Founded here in Austin as a single-screen theater, Alamo Drafthouse Cinema became a nationwide chain of eclectic movie theaters. It built up a cult-like following… until private equity stepped in. In 2021, Altamont Capital Partners and Fortress took over its operations before selling it to Sony’s PE division. Ever since then, quality has gone down hill, staffing has been reduced to a skeleton crew and locations have closed. All in pursuit of forcing a unique brand to compete with the Regal and AMC chains. Luckily, Sony stepped in to acquire the chain late last year, giving some customers a bit of hope. But the internet is still littered with the impact of their “streamlining operations” on customers.

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Big news: Relo Metrics is now measuring the NWSL in Relo Census. As the fastest-growing women’s league—with a 19% YoY increase in sponsorship deals—the NWSL is attracting major brands looking to connect with a new generation of fans. But here’s the issue: the data hasn’t kept up with the momentum. Until now. With Relo Census, brands and rights holders can now measure sponsorship value across every game, social post, and streaming moment in real time. No more guesswork. Just actionable insights and proof of performance. At Relo, we believe the investment in women’s sports isn’t just growing—it’s outperforming. We’re here to make sure the data proves it. Let’s raise the bar for measurement in women’s sports. Read more on the news coverage by @thegist: https://hubs.la/Q03jM8n80 #NWSL #WomensSports #SponsorshipAnalytics #ReloMetrics #SportsTech #AI

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Podcast Movement bought Sounds Profitable, a podcast trade org. In the below video I discuss 3 key takeaways on the deal 👇 1. Will the combined company build for a larger future exit?     2. Growing opportunity for premium B2B events + communities within creator economy     3. Understanding deal dynamics: Merger VS Acquisition? -- I'm the founder of RockWater Industries. We do M&A and strategy advisory for the creator economy and digital / audio agencies. My DMs are open.

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Management is a Service, Not a Career: The Economic Genius of Gabe Newell (the Founder and President of Valve corporation) If you watch one business talk this year, make it Gabe Newell’s lecture at the The LBJ School of Public Affairs no matter that it was posted in 2013. It isn't just about video games; it is a masterclass in dismantling traditional corporate inefficiency using pure economic reason. Newell and Valve didn't just build a successful product; they engineered a company based on first principles that contradict almost every standard MBA teaching. The Rational Brilliance of the Valve Approach: 🔹 The High-Value Talent Thesis While the industry rushed to outsource and cut costs, Valve went the other way. Newell argues that in the digital realm, the productivity gap between an average worker and a top-tier worker isn't 20%—it’s 100x. The Lesson: Hiring the most expensive, highest-output talent is actually the most cost-effective strategy. 🔹 Titles are "Cached" Problems Newell describes job titles as rigid solutions to past problems. When the market changes, those titles become roadblocks to adaptation. The Lesson: Valve removes titles to ensure that structure follows the work, not the other way around. "Management" becomes a temporary service you perform to unblock peers, not a permanent badge of authority. 🔹 From "Store" to "Network API" Valve realized early that they could never out-produce their own customers. Instead of acting as a gatekeeper (curating what is "good"), Steam evolved into an API that connects creators directly to consumers. The Lesson: Don't compete with your user base. Build the infrastructure that allows them to create value, and then monetize the transaction. 🔹 Prediction Markets > Corporate Planning Instead of relying on top-down sales forecasts, Valve utilizes internal prediction markets and real-time data. Newell posits that a decentralized group of users betting on an outcome is infinitely more accurate than a boardroom of analysts. The Verdict: Gabe Newell’s approach at Valve is a reminder that the "standard corporate model" is often just a pre-internet legacy. By prioritizing high-agency talent, removing bureaucratic friction, and trusting market dynamics, Valve has remained one of the most profitable and innovative companies per employee in history. This interview is a blueprint for the future of productivity: https://lnkd.in/dXBE4N3S #Valve #GabeNewell #Steam #Leadership #Management #BusinessStrategy #Innovation #FutureOfWork #OrganizationalDesign #TalentManagement #HighPerformanceTeams #TechLeadership #DigitalTransformation #PlatformEconomy #GamingIndustry #TechIndustry #Productivity #AgileLeadership #CorporateCulture #EconomicInsights

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The Zach Kepple Method for Culture That Lasts- We’re thrilled to announce Zach Kepple, American Patriot, storyteller, and small-town Texan with 30+ years in entertainment, as a featured guest on an upcoming episode of Next Level Thinkers | A Charting New Horizons of Brilliance. Zach's mission is steady and clear: protect our history and preserve our heritage by spotlighting the people and places that keep the Western way of life, God, Country, and Family, at the center. Kepple is the co-creator of the film Washington’s Armor and the author of Prayers for Our Nation and Take The Pledge. Kepple’s method functions as a usable blueprint for turning story into culture: put the camera where the work happens, let people keep their dignity, and make what’s on the line tangible, connect it to heritage, and show who it serves, so belonging is visible. That approach aligns directly with Next Level Thinkers mission: map how communities actually build themselves, one honest scene at a time. From his Small Town America Podcast to his travel vlog, Kepple documents the grit and purpose of real places, arenas and fairgrounds, main streets and shop floors, where commitment takes shape. In this conversation, we’ll examine the craft choices behind that lens: how faith and family stay present without cliché, how heritage can be modern without losing its roots, and how local voices turn into culture you can see. We look forward to sharing in a real grounded conversation with the REAL ONE, Zach Kepple. Rush, Host | Executive Producer | CEO | Combat Veteran Next Level Thinkers | A Charting New Horizons of Brilliance Podcast Prime Pitch Podcast Network Inc. Eric Rush - Building Purpose Driven Alliances #nextlevelthinkers, #zachkepple, #operationalclarity, #cultureplaybook, #storywork, #leadership, #heritagecraft, #texaspodcast, #audiencetrust, #creativestrategy

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The #musicindustry knows how to drop a beat, but in the startup world, Mantis Venture Capital just dropped a full-blown set. On July 15, 2025, Mantis Ventures locked in $100 million for its third fund, and no, this isn't your typical celebrity-backed venture fantasy with some angel money and a playlist. This is a fund run like a machine, just with a little more bass. What started in 2019 as a smart collaboration between music juggernauts Alex Pall and drew taggart of The Chainsmokers and venture vets Jeffrey Evans and Milan K. has become one of early-stage tech's most founder-obsessed institutions. This latest raise brings total AUM to $225 million, and it's not riding coattails. It's leading the charge. The origin story's got some edge. Evans and Koch wanted to build a firm with real gravitational pull, enter Pall and Taggart, who were already knee-deep in angel investing but looking for #infrastructure. The four spent a year calibrating their thesis before launching Mantis, and they haven't looked back since. This is a fund that plays in the noisy corners of #AI, #cybersecurity, #healthtech, #fintech, and infrastructure, and knows how to turn up the volume without losing the signal. Fund III is 25% larger than Fund II and powered by LPs who don't throw money at noise: Allocate, Summit Peak Investments, LLC, TriplePoint Capital. Add names like Mark Cuban, Ron Conway, Jim Coulter, David Blitzer, and Michael Rubin across earlier funds, and you start to see the pattern. This is respect earned, not borrowed. Let's talk track record. Ninety-eight investments since inception. Six exits, including names like Coinbase and Liquido. Notable plays like Chainguard, Rogo, Dandy, Underdog Fantasy, and Kalshi. This isn't scattershot investing, it's surgical, with check sizes ranging from $500K to $2M, and a clear bias toward founders who move with precision. What sets Mantis apart is the blend. A technical core with cultural leverage. It's #GTM support that looks like private concerts with #Fortune500 and back-channel intros you can't Google. It's operator-investors, not clipboard VCs. They're not building a better pitch deck, they're building better outcomes. So no, this isn't just another fundraise. This is Mantis Ventures at $100 million, and it's a reminder that if you want to win at early-stage, you don't just need capital. You need connective capital. The kind that hits product, people, and positioning, hard. #Startups #StartupFunding #StartupJourney #VentureCapital #VCFunds #Founders #FounderJourney #FundsAnnouncingFunding #Technology #Innovation #TechEcosystem #StartupEcosystem If engineering peace of mind is what you crave, Vention is your zen.

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