Sirius XM Holdings Inc. is near a deal to buy E.W. Scripps Co.’s
The satellite-radio giant is working to expand into the rapidly growing podcasting industry, following similar moves by media and tech companies including Spotify Technology SA
Stitcher runs a free podcast listening app and a premium $4.99 monthly service that lets subscribers listen to podcasts without ads. It also owns podcast networks including Earwolf and Stitcher Podcasts, with 50 shows including “Conan O’Brien Needs a Friend” and “Freakonomics Radio.” In partnership with outside networks and shows, Stitcher distributes and sells advertising for more than 250 podcasts — including “My Favorite Murder,” “WTF With Mark Maron” and “Oprah’s SuperSoul Conversations” — through its Midroll Media advertising unit.
U.S. ad revenue from podcasts rose an estimated 42% to $678.7 million last year, according to the Interactive Advertising Bureau, and is projected to rise to $863.4 million this year and exceed $1 billion by 2021.
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