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Acast, the Swedish tech firm that helps companies and people publish and monetize podcasts, has introduced plans to accumulate podcast database Podchaser. Phrases of the deal weren’t disclosed.
Based out of Stockholm in 2014, Acast is a distinguished model within the podcast know-how area, serving as a bunch and distribution platform that permits retailers together with The Guardian and The Economist to publish their podcasts to just about any app, together with Apple Podcasts and Spotify. Acast additionally permits podcasters to dynamically insert ads into their exhibits.
The corporate has raised some $126 million in its eight yr historical past, whereas it has a minimum of two earlier acquisitions to its title, together with RadioPublic which it purchased final yr.
Podchaser, for its half, was based out of Oklahoma in 2016, and closed a $4 million collection A spherical of funding final yr. Podchaser is like an IMDb for podcasts, permitting customers to seek for every thing and something to do with podcasts, together with studying and posting opinions and filtering by class.
Billion-dollar business
Podcasting is about to grow to be a $4 billion business by 2024 within the U.S. alone, in response to a current report from the Interactive Promoting Bureau, representing nearly a threefold enhance on the promoting income generated final yr. These numbers are essential when assessing why Acast is shopping for Podchaser.
Whereas Podchaser will proceed as a separate model and enterprise as soon as the acquisition closes, Acast stated that it plans a “deep integration” of Podchaser’s knowledge, giving its prospects “authoritative, structured metadata.” Certainly, whereas Podchaser is a consumer-focused platform by way of the way it aids discoverability, it’s additionally a utility for advertisers and entrepreneurs, because it permits them to seek out probably the most appropriate podcasts to promote their wares to. Focused promoting will play an essential a part of the fast-growing podcasting business, and it’s why Acast is bringing Podchaser underneath its wing.
Acast can also be fast to place itself as a champion of open podcasting, in distinction to a number of the different giants of the podcasting world akin to Spotify — a firm that’s persevering with to speculate closely within the podcasting medium. Whereas Spotify and its ilk are creating what many argue are walled podcasting gardens replete with unique exhibits and minimal knowledge insights, Acast touts its platform-agnostic ethos — one that offers advertisers deep insights into actions throughout the podcasting spectrum.
“Collectively we are going to unlock the huge alternative that we all know exists for open podcasting to not simply have parity with the information held by closed, paywalled platforms, however to leap ahead and surpass them,” Acast CEO Ross Adams stated in a press launch.
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