Entercom Communications, a local radio sports and news provider and a creator of audio content, has acquired Podcorn, a marketplace for brands to find and collaborate with the most relevant podcasters, in a deal worth $22.5 million.
The upfront cash payment will include $14.6 million and there will be also a performance-based earnout paid over the next 3 years.
Podcorn’s marketplace includes nearly 40,000 creators and has facilitated thousands of podcast ad campaigns. Podcorn creates an infrastructure for enabling direct podcaster and advertiser relationships, surfacing the most relevant matches to scale native branded content, drive higher ROI for brands, and enhance how podcast creators monetize their content.
Podcorn offers highly immersive, native formats for brands to authentically reach engaged audiences, such as host reads at scale as a way to maintain and elevate rate and ROI, and drive podcast market growth. The marketplace connects advertisers to podcast creators through workspaces where they can craft the ideal relationship and explore deeper formats including reviews, unboxings, guest interviews, panels and topical discussions, which provide true listener value.
While Podcorn provides brands with a self-serve platform, it also offers a full-service option that unlocks more managed support and consultation to help them accelerate, curate and manage their podcast campaigns to exceed their KPIs.
Podcorn was founded by Agnes Kozera and David Kierzkowski following the successful acquisition by Google of their previous company FameBit, the leading marketplace for video influencers where brands and YouTube stars collaborated for branded content. Kozera and Kierzkowski will continue to lead Podcorn, joining Entercom’s leadership team.
Podcorn’s marketplace of niche creators will complement Entercom’s existing critically-acclaimed roster of the largest and most influential podcasts, while helping it identify talented new creators. With Cadence13 and Pineapple Street Studios, Entercom is one of the three largest podcast publishers with the industry’s most award-winning, critically acclaimed content, and consistently has the most shows ranked in the top 100 on Triton’s U.S. Podcast Report.
Podcasting has been steadily expanding and diversifying programming – and widening audiences – consistently in the past decade. There are now more than 2.5 million podcasts, 60% of which were created in the past two years.