SiriusXM recently acquired the Stitcher podcast platform, in a $35 million USD deal. The podcast platform was purchased from a company named E.W Scripps, which previously purchased Stitcher from Deezer back in 2016. Despite the platform changing hands a number of times, the acquisition will help expand content production and distribution for SiriusXM.
Purchasing the Stitcher platform will also help SiriusXM expand its advertising capabilities. This is due to the fact that Stitcher is integrated with the Midroll Media network, where advertising companies can be linked with content produces in order to reach a target audience. SiriusXM stated that Stitcher's infrastructure will enable, "precision targeting, ad efficiency and improved measurement capabilities."
The acquisition also follows SiriusXM's current direction, as it recently purchased the Simplecast platform
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