Satellite radio platform SiriusXM is continuing its push into podcasts buying Stitcher. The deal is worth $325 million, according to The Verge.
Stitcher is not only a popular podcasting app with a premium, ad-free subscription service, but it’s also a network that, combined with its other entity Earwolf, produces shows like Conan O’Brien Needs a Friend. Scripps also combined Stitcher with Midroll Media, a podcast ad company that sells ads for other shows like The Dream and Getting Curious with Jonathan Van Ness that it acquired in 2015 for $50 million. The Sirius deal will give it ownership of all these companies, which, in some cases, could be redundant with what it already owns and operates. For one, Sirius owns Pandora, which it acquired in 2018 for $3 billion. Pandora, of course, is a popular place to listen to music and podcasts and also has its own exclusive content deals, like one with Marvel that was signed last year. It also owns AdsWizz, a podcast ad technology company that places ads in shows.
