Acast, one of the largest podcast companies, has acquired RadioPublic, the Boston-based podcast creation and distribution company. With the acquisition, Acast is now the biggest podcasting company in the US. Also Read: Mark Zuckerberg unfriends Australians: Facebook blocks access to community groups and pages in Australia to protest news media laws
The financial terms of the deal were not disclosed. According to Acast, the deal will not affect RadioPublic operationally.
Broadview: Podcast space has witnessed several deals in the past. This month, it was reported that iHeartMedia has entered into an agreement with The E.W. Scripps Company to acquire Triton Digital, the global technology and services leader to the digital audio and podcast industry, for $230 million.
Back in 2020, The E.W. Scripps Company also entered into an agreement with SiriusXM, owner of Pandora and backer of SoundCloud, to sell podcast industry leader Stitcher for $325 million. The deal gave SiriusXM access to Midroll, the leading podcast advertising network. Also Read: Paytm Money opens Futures & Options trading on its app for all at Rs 10 per order!
SiriusXM had also acquired podcast management platform Simplecast last year. The company plans to integrate it with AdsWizz, a digital audio advertising company. Also Read: Will you buy 5G Blackberry smartphone in 2021?
In another deal, Apple also acquired the startup Scout FM, a curated podcast radio stations based in San Francisco, CA.
Amazon and Google have also tried their hand into audio podcasting. However, none of these companies have set out to acquire any new companies. Also Read: Apple may launch foldable OLED iPhone in 2023 with Apple Pencil support
Podcasts are the Next Big Thing: Podcasts are gaining in popularity with over 950,000 podcasts and 30 million episodes. Almost 35% of people listen to a complete episode of podcast without skipping through, and most listen to an average of seven shows each week.
What’re they saying: Acast’s chief business and strategy officer Leandro Saucedo said, “The acquisition of RadioPublic is fundamentally a partnership of values.”
RadioPublic’s co-founder and Chief Product Officer Matt MacDonald said, “We had a whole roadmap of things we wanted to build, but we recognized that at our scale, we could be better served by partnering up with bigger organizations.”