Ashley Flowers’ Audiochuck Receives $40 Million Minority Investment from TCG (The Chernin Group)

Audiochuck, the true crime and mystery media company founded by Ashley Flowers and home to the #2 overall podcast of 2024, announced today a $40 million minority investment from TCG (The Chernin Group). Audiochuck will leverage its first-ever outside capital to scale the company and fuel its next phase of growth.

Founded in 2017 by Ashley Flowers in Indianapolis, Audiochuck has established itself as a powerhouse in true crime and mystery storytelling and one of the largest podcast networks in the industry. Crime Junkie, Audiochuck’s flagship podcast hosted by Flowers, launched the company to prominence and remains a dominant force, ranking as Apple Podcasts’ #1 true crime podcast and #2 overall podcast of 2024 as well as Edison Research’s #2 overall podcast. In 2021, Audiochuck signed a 3-year (2022-2024) deal with SiriusXM, which SiriusXM renewed in 2024 for a fourth year (2025). Named Adweek’s Podcast Network of the Year in 2023, Audiochuck has steadily expanded its podcast portfolio to over 20 weekly and seasonal shows – including The Deck, Counter Clock, Park Predators, and Dark Downeast – making it SiriusXM’s largest network across all genres.

“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,” said Ashley Flowers. “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,” said 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.”

Beyond audio content, Audiochuck has evolved into a thriving multimedia business, which includes a passionate community of subscribers to its “Fan Club” app, a New York Times best-selling book – Flowers’ debut novel All Good People Here, sold-out live events, and several film and TV projects in development. With a team of more than 65 full-time employees in Indianapolis, Audiochuck continues to push boundaries and expand its offerings. The company will soon build out a film and TV division, publish the upcoming thriller The Missing Half from Flowers in May of 2025, and expand its live experiences for the Crime Junkie community. During its meteoric rise, Audiochuck has remained committed to philanthropy, donating over $8.5 million to more than 150 nonprofits worldwide. Flowers has also established a foundation and has committed $11 million, so far, to further her philanthropic efforts. While Audiochuck has been 100% bootstrapped to date, the outside capital from TCG will help the company diversify and expand business operations through its next phase of growth.

The TCG investment comes amid an optimistic outlook for the podcasting industry. The Interactive Advertising Bureau predicts a return to double-digit revenue growth, projecting an increase of 12% for 2024, with expectations to reach nearly $2.6 billion by 2026. The number of true crime weekly listeners has reached 19 million, surpassing sports and news as the third largest category in podcasts. With an audience median age of 34 (significantly lower than that of cable newspapers, and talk radio), podcasts are earning a more diverse and increasingly female set of listeners who are spending more time than ever with podcasts. While 84% of the U.S. population 13+ consume some form of true crime content, women are almost twice as likely as men to regularly listen to true crime podcasts. The medium is also seeing a rise in momentum on the heels of its significant impact on the recent U.S. election cycle.

TCG is a multi-stage investment firm that invests in companies that define culture. TCG has a track record of successful investments in creator-driven media brands and emerging media platforms, including Barstool Sports (its first and only investor), Hello Sunshine (its first investor), Crunchyroll, Twitter, Night Media, Classic Football Shirts, Exploding Kittens, Epic Gardening, Vuori, and Oura Ring.

Audiochuck recently announced the Crime Junkie: Life Rule #10 tour with Flowers and Brit Prawat bringing their signature storytelling live to 18 cities across the United States. Tickets for the tour are available at crimejunkiepodcast.com. To learn more about Audiochuck and the company’s true crime projects, visit Audiochuck.com and follow Audiochuck on Instagram, Facebook, YouTube, LinkedIn and X.