BBC to invest in podcasting platform Pocket Casts
BBC Studios said Monday that it's investing in Pocket Casts, a free-to-download podcasting platform. NPR, WNYC Studios and WBEZ Chicago are already investors.
Why it matters: The investment is likely a response to media companies wanting their own data, analytics and distribution outlets instead of Apple, which shares very little data with publishers.
The big picture: It's part of a growing trend of news companies eyeing investments in podcast companies to bolster their audio efforts.
Driving the news: The New York Times is in exclusive talks to acquire Serial Productions, the podcast studio that has attracted more than 300 million downloads, The New York Times' Ben Smith reports.
- Smith says that the company's valuation could be around $75 million, which would be a hefty investment for The Times.
- The Times has acquired smaller companies before, like influencer marketing agency Fake Love in 2016, and About.com for about $410 million in 2005.
Yes, but: One high-level source in the podcasting world emails Axios that they're skeptical that the deal will go through.
- "They don’t need it. The Daily is heard by millions of listeners daily. Their other projects have been great. Serial will sell to someone needing a pod strategy or big win, is my guess."
Be smart: Recently, many of the big podcast exits were going to tech companies, like Spotify, but publishers have made investments in podcast companies as well over the past few years.
- Slate Group was early to the game with its creation of Panoply, now called Megaphone, a podcast content company turned podcast technology company that now focuses on podcast advertising.
- iHeartMedia bought podcast production company Stuff Media in 2018 for $55 million.
- E.W. Scripps acquired podcast network Midroll in 2015.