The SiriusXM satellite radio platform continues its breakthrough in podcasts by purchasing Stitcher. The deal is worth $ 325 million, according to The Verge.
Stitcher is not only a popular podcasting app with an ad-free premium subscription service, but it’s also a network that, combined with its other entity Earwolf, produces shows like Conan O’Brien Needs a Friend. Scripps also combined Stitcher with Midroll Media, a podcast advertising company that sells ads for other shows like The Dream and Getting Curious with Jonathan Van Ness, which it acquired in 2015 for $ 50 million. The Sirius deal will give it ownership of all of these companies, which in some cases may be redundant with what it already owns and operates. On the one hand, Sirius owns Pandora, which it acquired in 2018 for $ 3 billion. Pandora, of course, is a popular place to listen to music and podcasts and also has its own exclusive content offerings, like the one with Marvel that was signed last year. He also owns AdsWizz, a podcast ad technology company that places ads on shows.
Check it out: SiriusXM buys Stitcher for $ 325 million