In the latest deal in the burgeoning podcasting business, audio entertainment giant SiriusXM has acquired Simplecast, a platform that enables podcasters to publish, manage and measure their content.
Led by founder and CEO Brad Smith, Simplecast has attracted such companies and content brands as Netflix, Armchair Expert with Dax Shepard and Anna Faris’ Unqualified.
“The Simplecast solution, paired with the award-winning monetization platform of AdsWizz, the ad tech subsidiary of SiriusXM, creates an end-to-end solution that enables creators to publish and generate revenue from their podcasts, all in one place,” SiriusXM said.
The company also offers Pandora for Podcasters, allowing creators to submit their podcasts to reach Pandora’s millions of users and get access to data analytics tools and audience insights.
“Our goal is to provide audio publishers with state-of-the-art platforms and give them everything they need to be successful,” said Alexis van de Wyer, CEO of AdsWizz. “Empowering podcasters of any size to create, distribute, analyze, and monetize their work is the next natural step in pursuing our vision.”
Smith said that Simplecast’s “mantra and mission was to remain laser-focused on podcast creators. Combining its tools with those of AdsWizz “allows our product – and our customers – access to a powerful monetization platform,” he said. “Two best-in-class platforms are now able to align with the shared mission of helping publishers succeed, while each team continues to focus on their respective areas of expertise.”
SiriusXM CEO Jim Meyer has touted the growth potential of podcasts, citing a chance to curate and bring more content, as well as better advertising technology and targeting to the growing space. “Most podcast advertising is very rudimentary and not personalized,” he said last year. “Frankly, this area is ripe to be disrupted and improved.”
Among other deals in the podcasting space, music streaming giant Spotify last year bought podcast creator Gimlet Media, known for the likes of Homecoming, and Anchor, a provider of podcasting-related tools, including for creation and monetization.
This article was originally published by The Hollywood Reporter.