SiriusXM recently purchased a podcast platform, named Simplecast in effort to increase its presence in the industry. However, the financial terms of the acquisition were not publicly released. The Simplecast podcast platform provides tools for podcasters to create audio content, as well as analytics to see how content performs.
SiriusXM indicated that Simplcast will work in collaboration with an ad tech company, named AdsWizz. This will allow podcasts creators to develop content, monitor engagement, and monetize it, all in the same place.
The acquisition continues SiriusXM's venture into the podcasting industry, as previously it added podcasts to its Pandora pp. Many younger listeners are driving the growth of podcasting, and it is clear SiriusXM is reacting to these changes.
Image Credit: SiriusXM