Theo Von Blasts Podcast Network He Says Stole His Ad Revenue: ‘You F*cked With The Wrong Rat!’
Theo Von called out his former podcast network for allegedly failing to pay out advertising money to his show and others — to the tune of millions.
The comedian explained the drama and why he chose to speak out on the issue on the Wednesday edition of his show, This Past Weekend. Von claimed that his former podcast network, Kast Media, failed to pay him six figures in ad revenue, despite his fulfillment of ad reads on various episodes.
On the Kast Media website, Von’s show still appears as one of the networks featured podcasts along with top names like Sarah Silverman, Whitney Cummings, Rainn Wilson, and Logan Paul.
Von repeatedly accused Kast Media CEO Colin Thomson as being behind the alleged fraud.
“The company that did it is Kast Media, and the man that did it is Colin Thomson,” Von said bluntly. “We’re part of a larger group of podcasts that were stolen from. I’ve just between talking with folks, there’s up to $4 million that I know of that people were taking advantage of.”
“We’re in the six figures, I know of podcasts that are in the seven figures,” Von said. “I’m fortunate that I can still have touring and that I can take care of myself, but you fucked with the wrong rat, Colin. I’ll tell you that, brother.”
Von explained that the business relationship started out well — until he realized he was not being paid a proper cut for ads featured on his podcast.
“The advertisers were paying Colin Thompson and Kast Media and they weren’t paying us. They would pay us a little bit and they had a reason why,” Von claimed.
Von said that after going back and forth with the company, he cut ties with the network over breach of contract. Von detailed that Thompson left Kast Media and joined another podcast company, LiveOne / PodcastOne.
The comedian said he was invited to join another podcast company that Thomson had joined called LiveOne/PodcastOne. He said the company promised to pay Von the money he was owed partially in stock, as the company is expected to go public in September.
“They tell me that ‘If you come over to our new network, that we’ll pay you, some of which you’re owed in stock.’ But the stock hasn’t gone public. So they’re trying to — it felt like to me they’re trying to leverage our podcast and other podcasts to then make their stock do well,” Von said.
When Von voiced his concern with continuing to work with Thompson, LiveOne assured him the executive would stay on the team.
“I know what it feels like to be taken advantage of. And I wouldn’t do that to these people,” Von said. “I have a voice. And a lot of other people are forced into these bad deals because they’re afraid to speak up. And that’s not what our show is about.”
Kast Media did not respond to a request for comment.
Watch above via This Past Weekend.