Libsyn goes global with Julep Media deal and Canada expansion
Liberated Syndication Inc., a Pittsburgh-based podcast hosting platform, is quickly expanding ahead of its plans to relist on an exchange. Libsyn's latest purchase gives it a European foothold and the company tells Axios that it's launching in Canada.
Why it matters: Libsyn's agreement Tuesday to acquire Julep Media, a Munich-based podcast ad tech company, would be its sixth acquisition since 2021 as the podcast industry consolidates to compete for listeners and ad dollars.
Details: Libsyn said Julep monetizes more than 500 podcasts and works with more than 300 brands and agencies including Deutsch Telekom and Ikea. Julep CEO Steffen Hopf will remain and support growth in Europe.
- This deal follows Libsyn's acquisition of Podcast Ad Reps in March, Podgo Media in November 2021, AdvertiseCast in June 2021, Glow in April 2021 and Auxbus in February 2021.
- Libsyn will launch in Canada, Rich Romano — VP, marketing, brand and communications at Libsyn — said in an email to Axios.
- It recently named Bob Kane as the country manager and signed Canadian sportscaster Bob McCown's podcast and Canadian comedy podcast company, The Sonar Network, to exclusive deals.
Catch up quick: Libsyn was spun out of FAB Universal in 2016 after the latter settled a shareholder lawsuit. In 2019, the SEC charged FAB Universal executives with misleading investors about its business operations in China.
- Libsyn has had its own financial controversies. The SEC revoked Libsyn's stock listing in April after it neglected to file company reports.
- Libsyn has since completed its 2019 and 2020 audits. The company plans to re-register with the SEC and relist on an exchange after completing its 2021 audits, Romano tells Axios.
- It has appointed new leadership — Jonathan Charak as CFO, Brad Tirpak as CEO, John W. Gibbons as president and CPO — and has taken on new capital.
What they're saying: "The number of podcasts on AdvertiseCast's network has doubled since the original acquisition, so clearly something's working," Jacob Kastrenakes writes for Hot Pod.