Less than a month after picking up Simplecast for its podcast distribution and analytics tools, SiriusXM today is announcing an even bigger acquisition to raise its game in the realm of streamed spoken-word content. The satellite radio company said it has reached a deal to acquire Stitcher from E.W. Scripps for $325 million, a return of more than double Scripps’ investment in podcasting, the companies reported this morning. Stitcher is a podcast pioneer that provides a popular one-stop platform to create, monetize (via advertising) and distribute podcasts to listen to via its app and on multiple platforms, and that is precisely what SiriusXM would like to capitalise on.
“With our team’s collective expertise in digital audio, analytics and ad tech, plus Stitcher’s deep experience in podcasting, I see significant opportunities