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State of the Screens

Podcast Consolidation Gets Sirius

By July 16, 2020November 15th, 2021No Comments

Big news: E.W. Scripps agreed to sell Stitcher to SiriusXM for $325M.

The bottom line: The E.W. Scripps podcast offering included the acquisition of Stitcher ($5M in 2016) and Midroll ($55M in 2015), meaning this could deliver a 442% return versus the original price.

Flashback: Spotify Strikes Podcast Deal With Joe Rogan Worth More Than $100 Million

Podcast advertising revenue by year (YoY growth) according to PwC:
1) 
2015 – $106M
2) 
2016 – $169M (↑ 59%)
3) 2017 – $314M (↑ 86%)
4) 2018 – $479M (↑ 53%)
5) 2019 – $708M (↑ 48%)
6) 2020P – $812M (↑ 15%)
7) 2021P – $1.3B (↑ 55%)
8) 2022P – $1.7B (↑ 36%)

Share of advertising revenue by objective:
1) 
Direct response – 54%
2) 
Brand awareness – 42%
3) 
Branded content – 3%
4) 
Product placement – 1%

Quote from Zoe Soon – VP of Consumer Experience Center @ IAB:
“The heart of podcasting has to date been direct-to-consumer, but more established brands are starting to look at podcasting.”

Average daily time spent listening to podcasts (YoY growth) according to eMarketer:
1) 2018 – 31m (↑ 21%)
2) 2019 – 36m (↑ 18%)
3) 2020P – 34m (↓ 7%)
4) 2021P – 35m (↑ 3%)
5) 2022P – 36m (↑ 2%)

Michael Beach

Michael Beach

Michael Beach is the Chief Executive Officer of Cross Screen Media, a media analytics and software company that enables marketers to plan, activate, and measure CTV and linear TV at the local level. Michael is also the founder and editor of State of the Screens, a weekly newsletter focused on video advertising that is a must-read for thought leaders in the advertising industry. He has appeared in such publications as PBS Frontline, The Wall Street Journal, The New York Times, Axios, CNBC and Bloomberg, and on NPR’s Planet Money podcast.

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