Tom Brady and Michael Strahan’s media company, Religion of Sports, is experiencing tough times.

According to the New York Times, the “dumb money era” for podcasting companies like theirs is over, and they are being forced to make cutbacks.

Religion of Sports burst onto the scene in 2018 with six shows, but the company has recently been forced to lay off podcast employees and close its audio division due to the challenging economic climate and weakened ad market.

Unfortunately, Religion of Sports is not alone in its struggles, Spotify has reduced its podcast staff three times in the last five months, as well as chief content officer, Dawn Ostroff, resigning.

However, not all the news is bad for Tom Brady’s media company, with SiriusXM announcing a multi-year extension of Brady’s “Let’s Go” podcast with Jim Gray and former All-Pro receiver, Larry Fitzgerald.

In 2024, Brady will also become Fox Sports’ no. 1 analyst, as part of a 10-year US$375 million deal.