SiriusXM, the leading audio entertainment company in the U.S., announced today that it has entered an agreement with The E.W. Scripps Company (NASDAQ: SSP) to acquire Stitcher, a pioneer in podcast production, distribution, and ad sales. The transaction will advance and deepen SiriusXM’s position in podcasting, the fastest-growing sector in the audio entertainment ecosystem.
With the acquisition, SiriusXM’s combined properties will contain the largest addressable audience in the U.S. across all categories of digital audio – music, sports, talk, and podcasts. The transaction will also further extend the substantial reach of SiriusXM in the digital audio ad marketplace. The SiriusXM and Pandora owned-and-operated digital platforms, combined with the company’s exclusive ad sales arrangement with SoundCloud for the U.S., and the Stitcher and Midroll networks that are subject to the agreement, will reach over 150 million listeners. Upon completion of the transaction, SiriusXM will be better positioned to advance the podcast ad market and help solve some of its critical challenges through precision targeting, ad efficiency, and improved measurement capabilities via a streamlined ad marketplace.
Pandora has launched an in-house digital consultancy called Studio Resonate. Studio Resonate provides advertisers with audio creative development, sonic branding and strategy services, as well as visual design, rich media production, web / mobile experiences, and live activations.
After purchasing programmatic audio platform AdsWizz in March, Pandora has become a force in the market.
Late last year, with a handful of existing brand clients, Pandora started testing a product called Video Plus, which rewards viewers with song replays and the ability to skip tunes in exchange for their ad views.
While shorter ads have been all the rage on digital platforms recently, that narrative appears to be a little more nuanced with Pandora.
Pandora, the internet radio company with 76 million monthly users, is tapping Oracle to track the effectiveness of its ads, a move that follows the lead of social media platforms like Snap and Facebook.
Australian advertisers can now connect with Pandora listeners by genre, through a curated ‘music moments’ sponsorship offering.
Much has been written about what our brains look like on music. But what kind of chords are struck when songs play with ads?
Pandora Media today announced the appointment of Naveen Chopra as the Company’s chief financial officer, effective Feb. 28, 2017.