Colin Cowherd's $60M Podcast Empire Runs Without Investors or a Salary

Colin Cowherd has built a thriving media company, The Volume, in just three years. The podcast network now employs 60 people, produces 25 shows, and pulls in millions of listeners each month. Despite its rapid growth, Cowherd funds the entire operation himself—without taking a salary or outside investment.

The Volume launched in 2021 with a clear vision: to help creatives build their own audiences. The network offers financial guarantees in exchange for a share of podcast revenues, using a sliding scale model. FanDuel came on board early as a presenting sponsor, providing a guaranteed income stream that now exceeds $5 million annually.

Cowherd's daily routine reflects his commitment. By 3 p.m. EST, his sports talk show ends, and he immediately shifts focus to The Volume. His earnings from Fox Sports and iHeart Media—$16 million per year—bankroll the company, allowing him to retain nearly all equity and make decisions independently.

The network's success is evident in its numbers. Monthly downloads exceed 15 million, while YouTube views top 100 million. Revenue is estimated at $60 million annually, with profits of at least $10 million. Yet, less than a third of that income comes from Cowherd's own shows, The Herd and The Colin Cowherd Podcast.

Despite early hits like The Draymond Green Show and Club Shay Shay, both left when their contracts expired. Now, Cowherd is eyeing expansion, exploring acquisitions or new ventures such as newsletters. He has no plans to sell the company anytime soon.

The Volume's growth has been swift, with a valuation potentially exceeding $150 million. Cowherd's hands-on approach and self-funding model keep the business agile. For now, the focus remains on scaling the network while maintaining full control over its direction.