iHeartMedia enter into an agreement to acquire New York-based audio technology and podcast marketplace company Voxnest.
Launched in 2018 following the merger of Spreaker and BlogTalkRadio, Voxnest provide distributing and analytics to podcast publishers and advertisers. Prior to the acquition, iHeartMedia owned a minority stake in the company.
With this acquisition, iHeartMedia, through Voxnest, will now be able to provide podcast advertisers with additional targetable inventory at scale by allowing the effective and efficient monetization across an entire range of podcast inventory on this one-of-kind programmatic platform. This additional inventory will increase the monetization of iHeartMedia’s full range of podcasts and advance the podcast marketplace for both buyers and sellers. iHeartMedia will also be able to drive greater monetization for creators of podcast content – wherever they currently publish their shows – by connecting Voxnest’s advanced ad technology with multiple publishing platforms across the industry.Press release – iHeartMedia and Voxnest
Voxnest’s additional advertising technology capabilities include dynamic ad insertion, audience and content targeting, programmatic podcast buying and a full podcast analytics platform.
This is an important addition to the iHeart digital product ecosystem, which includes our SmartAudio suite of data-driven broadcast radio advertising solutions; our position as the No. 1 commercial podcast publisher with massive distribution and promotion across all our broadcast assets; and the iHeartRadio digital platform. The addition of iHeart’s offerings to Voxnest will ensure critical mass for the platform and accelerate its growth. As we continue to invest in podcasting and lead the industry, we anticipate this acquisition will have an important impact on iHeart’s ability to more fully monetize its podcast inventory, and will also benefit the other podcast publishers that are part of the Voxnest network and the advertisers who are using it.Bob Pittman, Chairman and CEO, iHeartMedia Inc.
We’re excited about the growth potential from this unique combination. The podcast marketplace has been fragmented, with supply and demand spread across multiple platforms – creating scale challenges for marketers who want to buy podcasts. And despite the massive growth of the podcast industry, with more than 100 million Americans listening to a podcast every month now, podcast creators and networks have not had an effective way to fully monetize their content and brands. With this combination, for the first time there will be one podcast technology platform that can bring together all of the demand sources with the largest supplier of podcast inventory – creating the only podcast technology platform that consolidates all the podcast markets into one, making buying more efficient for buyers and sellers of podcast advertising, and creating a unique benefit for the 10,000+ podcast publishers that are part of the Voxnest network today.Francesco Baschieri, CEO, Voxnest