Disrupt Radio’s fall: Unpaid wages, failed investments, and a looming court date
The Sports Entertainment Network is taking the media startup to court for failing to pay its debts.
Disrupt Radio will face a winding-up application in the Supreme Court of Victoria after months of financial instability and unpaid staff wages.
As first reported by Tim Burrowes’ Unmade substack, the Melbourne-based startup, which launched in June 2023, is being targeted by an application from Sports Entertainment Network (SEN), its former studio provider, for failing to pay its debts.
The company, known for its focus on content aimed at startups and small businesses, had attracted high-profile names such as Bob Geldof and Jules Lund.
However, after a series of failed investment rounds, low audience figures, and mounting operational costs, Disrupt Radio ceased live programming in mid-2024 and has since faced ongoing financial difficulties.
Some of the station’s premier podcasts also ceased releasing new episodes around August 2024 – including the Startup Nation Podcast with Jules Lund, Moolah and Entrepreneur Her.
Other podcasts on the network, such as The Advisory Board, have not published new episodes since early 2024.
The rise and fall of Disrupt Radio
Founded by Benjamin Roberts, Disrupt Radio aimed to change digital audio broadcasting by focusing on startups and small businesses.
Early confidence was backed by key figures, including Michelle Guthrie, the former ABC managing director and Disrupt’s chair, who described the station as a long-term project to connect with new radio audiences. Guthrie is also the former chair of Australian gaming studio Mighty Kingdom.
However, issues emerged soon after the company’s launch. As reported by Unmade last year, by mid-2024, the station had allegedly burned through $4.6 million in its first year while bringing in just $308,000 in advertising revenue.
It was also reported that Disrupt Radio’s crowdfunding campaign on Birchal raised only $24,500 of its $1 million target by July 2024.
At the time of writing, the Birchal campaign site is live but states that $0.00 was raised from 14 investors for a Series A round by July 11, 2024. The CSF documents are not publicly accessible.
The failure of significant investments to come through in August triggered broader problems, including halted live broadcasts, and a lockout from Sports Entertainment Network’s studios. Sources have confirmed with SmartCompany that former staff are still yet to be paid.
The Disrupt Radio website is also currently suspended.
“We’re still working through options for reconstruction, and the company has not been trading insolvently,” Roberts said to SmartCompany.
SmartCompany contacted Michelle Guthrie for comment but did not receive a response prior to publication.
Where did Disrupt Radio go wrong?
Disrupt’s DAB+ audience figures were low – just 4,000 listeners in Sydney and fewer than 1,000 in Melbourne and Brisbane. And despite attempts to pivot to online streaming, the station failed to attract sustainable audiences.
Unmade revealed the station was burning through $400,000 per month while relying on anticipated investment rounds that never materialised.
Sources have told SmartCompany that Roberts repeatedly reassured staff that funding was on the way, but it didn’t materialise.
By August 2024, Disrupt Radio could no longer pay its staff, many of whom were reportedly paid in arrears as freelancers or contractors.
Morale dropped, and staff stopped showing up to work, leaving the station in replay mode.
A LinkedIn post by a former staff member in late 2024 highlighted their frustration:
“It should come as no surprise to those who have been keeping up-to-date with my ‘Will I Ever Be Paid?’ saga with Disrupt Radio that I STILL have not been paid nor been communicated with about when that may happen.”
The post further criticised Disrupt’s leadership and accused the company of failing to address unpaid wages and other financial obligations.
According to a notice published by the Australian Securities and Investments Commission (ASIC), the winding-up hearing is scheduled to be held in Melbourne on February 26.
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A previous version of this story stated that ASIC also filed a notice of proposed deregistration of Disrupt Media in November 2024. Roberts has since stated that this a dormant IP entity unrelated to Disrupt Media Limited.
