Los Angeles, CA – Frustrated talent and their managers have joined forces to shed light on the controversial acquisition of Kast Media by LiveOne, parent company of PodcastOne. This collaboration aims to bring attention to the ongoing issues surrounding unpaid talent and exploitative practices within Kast Media.
Colin Thomson, the CEO and Owner of Kast Media, has come under scrutiny for his failure to compensate the majority of talent, with some individuals reporting non-payment dating back to 2021. The talent, who have dedicated their time and efforts to producing quality content, have been left without the remuneration they rightfully deserve. Jim Cornette spoke about his experience on his recent podcast. Colin Thomson owes over 5 million dollars to talent.
In addition to the non-payment allegations, Kast Media faces multiple lawsuits filed by talent managers and former employees. These legal actions highlight further concerns, such as the denial of overtime pay and the denial of basic employment benefits like lunch breaks. It is deeply troubling to witness an environment where employees’ rights and well-being are disregarded.
LiveOne, the company acquiring by Kast Media, has contributed to the distressing situation by offering unfavorable contract terms to talent. With a revenue split of 60/40, talent finds themselves on the receiving end of an unfair deal compared to other industry standards. Furthermore, the lack of production support provided by LiveOne adds to the disservice faced by talent, putting them at a significant disadvantage within the industry.
The compensation practices exhibited by Kast Media and LiveOne are far from satisfactory. Rather than fulfilling their financial obligations to talent, the companies offer only a minimal upfront payment, accompanied by an equal amount disbursed over a two-year period. The remaining owed compensation is unjustly issued in the form of stock options in a newly formed company involving Colin Thomson and LiveOne. This approach not only disregards talent’s rightful earnings but also leaves them feeling coerced and undervalued.
One anonymous talent shared their experience, stating, “It’s been frustrating, as we see Colin not paying anyone, and at the same time, he is posting photos on social media about his custom multi-million dollar home he’s built in Calabasas or lavish vacations in other countries. It seems like he’s been embezzling the ad revenue owed to us for personal gain, and has no intent to really pay us what is owed.”
The talent and their managers are united in their stance against these exploitative practices. They demand transparency, fair treatment, and proper compensation for their hard work and dedication. It is essential for Kast Media and LiveOne to acknowledge the severity of the situation and take immediate action to rectify the injustices inflicted upon talent.
Note to editors:
This press release represents the voice of frustrated talent and their managers and aims to shed light on their concerns regarding Kast Media’s acquisition by PodcastOne. The claims and allegations mentioned in the release are based on the perspectives and experiences shared by the talent and their representatives.
