When pandemic lockdowns swept the country in Spring 2020, there were concerns that the booming podcast business might take a pause — the dramatic decline in people commuting meant fewer people listening on the go. Podcast downloads did initially decline, 10% between February 25 and March 25, but instead of that decline accelerating, digital audio rebounded, and 2020 catapulted a new generation of social audio companies into prominence.
Netflix is forging ahead into the podcast space with new hires and entertaining pitches for audio productions.
The deal, for one of the industry’s earliest success stories, Roman Mars’s hit podcast about the hidden influence of design and architecture that helped solidify resurgent interest in narrative audio when it premiered in 2010, is the latest salvo in an era of rapid consolidation.
It closes on the $230 million sale of the digital audio/podcast company to iHeartMedia.
The deal, valued at $300 million, is the latest in a string of acquisitions as streaming platforms expand beyond music and video.
The Stitcher company includes the Midroll advertising rep firm; owned-and-operated podcast networks including the comedy-focused Earwolf; and the Stitcher podcast listening platform.
The deal includes three distinct podcast business lines: the Midroll advertising rep firm; owned-and-operated podcast networks including the comedy-focused Earwolf; and the Stitcher podcast listening platform.
TV broadcasters including E.W. Scripps, Tegna, Fox Owned Stations and KSL have laid down bets of varying sizes in the podcast medium, drawn by the potential of expanding audiences, motivating newsrooms and new revenue streams.
The veteran correspondent, talk show host and moderator of The View continues her sideline into game show hosting with 25 Words or Less. She says her interviewing skills and empathy from journalism made the shift less dramatic than it sounds, and her next act may be podcasting.
The GM of Fox’s Washington duopoly is overseeing moves into podcasting and other new media, something he calls a survival necessity. “We’re competing with everyone, and for every dollar that we can get, so, to me, you have to have more places to monetize.” (Photo: Wendy Moger-Bross)
Since she was tapped as Spotify’s chief content officer about a year ago, Dawn Ostroff has been charged with building an arsenal of podcasts to catapult the Swedish business to become a leader not just in music but also audio storytelling. Under her watch, the number of podcasts available on Spotify has grown to more than 450,000 titles, up from 185,000 in February.
As this still emerging entertainment segment develops, there will be lots of prognostication on how high the revenues can go, what models work best, and when it will reach market saturation. The one thing that is certain is that the on-demand genie is out of the bottle; that consumers are going to continue to expect good quality information and entertainment on their schedule.
Podcasting, once viewed as a niche industry that catered to public radio fans, got a major boost this month when Swedish streaming giant Spotify agreed to pay around $230 million for Gimlet Media, the New York producer of such audio dramas as Homecoming and the documentary series Crimetown.
Spotify paid about $337 million for podcasting companies Gimlet Media and Anchor FM, according to a new filing with the SEC. That represents a big chunk of the $400 million to $500 million that the Swedish streaming giant said it plans to spend on podcasting companies this year.
Top creatives and podcast creators discuss trend of hit podcasts becoming TV series at an NAB Show session.
Sessions, exhibits and podcast studio feature leading podcasters and highlight the medium’s growth and opportunities.
A team at the Ventura County Star thought they could enhance their online presence and gain new audiences with two podcasts — one on local history and the other on prep sports. Turns out they were right.