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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What's Driving This Trend
- Podcast Platform Acquisitions
- Opportunity for businesses to acquire podcast platforms to expand content production and distribution.
- Ad Targeting in Podcasts
- Disruptive innovation opportunity for advertising companies to reach target audiences through podcast platforms.
- Improved Measurement Capabilities
- Opportunity to enhance ad efficiency and precision targeting with improved measurement capabilities in podcast platforms.
Who This Affects Most
- Media
- Media industry can capitalize on podcast platform acquisitions to strengthen content production and distribution.
- Advertising
- Advertising industry can leverage podcast platforms for effective ad targeting and reaching specific audiences.
- Measurement and Analytics
- Measurement and analytics industry can benefit from improved measurement capabilities in podcast platforms for more accurate targeting and analysis.
