Only Murders In The Building season 5 episode 4 ending explained: Do Mabel and the others lose the podcast?

The twists and turns of Only Murders In The Building season 5 episode 4 have left fans wondering whether the podcast that started it all is slipping away from Mabel, Charles, and Oliver. Hulu’s hit comedy-mystery, created by Steve Martin and John Hoffman, continues to weave an intricate web of suspense, humor, and eccentricity. With Martin Short, Steve Martin, and Selena Gomez at the helm, the series has consistently delivered sharp storytelling while satirizing true-crime culture. 

Season 5 has expanded the playing field with a trio of eccentric billionaires whose involvement in the mystery complicates matters further. The latest episode pushes the stakes higher, blending personal histories, suspicious alibis, and corporate manipulation into a single, fast-paced chapter. At the heart of the story is whether our beloved trio can hold onto their podcast in the face of pressure from powerful adversaries.

Billionaires, bluffing, and the fate of the podcast

Only Murders In The Building season 5 episode 4 opens with the three billionaires — Jay Phlug, Camila White, and Bash — talking about their love for games. Their introduction frames the episode as a contest of bluffing, where truth and lies blur. Soon, the OMITB trio scrambles to avoid being cornered in Arconia's basement, only to realize these new characters are connected more deeply to the case than they first imagined.

As the story progresses, suspicions circle Jay, who appears with a bandaged hand that could be linked to the severed finger hidden in Charles’ fridge. Yet his alibi, and the support of Camila and Bash, cast doubt over his guilt.

Meanwhile, Vince, returning to help with the investigation, shares insights that paint the billionaires as dangerous players — Nicky’s shady business past, Jay’s toxic empire, Bash’s age-defying secrecy, and Camila’s intimidating creative genius.

The real twist comes when the billionaires corner Mabel, Charles, and Oliver into signing a contract with Wandify, a move designed to silence their podcast for three years. The finale of the episode leaves fans questioning whether the billionaires’ bluff has finally cost the trio the platform that defines them.

Recap of Only Murders In The Building season 5 episode 4

In Only Murders In The Building season 5 episode 4, the narrative cleverly pairs characters into duos, mixing both the new billionaire mob and the original podcasters. Charles bonds uneasily with Bash while trying to cook his grandmother’s duck à l’orange, Oliver faces Camila’s brutal design critique, and Mabel struggles with the resurfacing of personal wounds tied to “The,” a figure from her past. These interactions flesh out both the newcomers and the vulnerabilities of the core trio.

A pivotal dinner scene escalates when Jay, Camila, and Bash confront the podcasters, effectively blackmailing them into halting their investigation. Despite the billionaires’ convincing explanations about Nicky’s death and Jay’s injury, cracks begin to show.

Mabel notices that the severed finger doesn’t match Jay’s bandaged hand, pointing to a larger deception. Adding to the mystery, Vince recalls that Lester had mentioned five people being present in the Velvet Room, but only four identities have surfaced.

The episode concludes on a shocking note: the podcast is effectively stolen, its future dictated by a corporate contract and the whims of the billionaire trio. While Mabel and her friends may have lost a battle, the clues they’ve uncovered hint that the war is far from over.

Only Murders In The Building season 5 episode 4 leaves the audience at a crossroads — our trio’s beloved podcast is in jeopardy, and their enemies seem to hold the upper hand. Yet with unanswered questions about the severed finger and the mysterious fifth figure in Lester’s story, the game is far from finished. The billionaires may have won this round, but Mabel, Charles, and Oliver are not easily silenced.