Deezer Sells Podcast Service Stitcher To Scripps For $4.5 Million
Perhaps to raise a little cash in its ongoing battle with Spotify and Apple Music and perhaps because users of paid music streaming services are fine with free standalone podcast apps, Deezer has sold popular podcast service Stitcher to Scripps for $4.5 million.
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The E.W. Scripps Company has acquired popular podcast service Stitcher for $4.5 million from France based international music streamer Deezer.
Stitcher facilitates discovery and streaming for more than 65,000 podcasts to 8 million registered users. It is is one of the most established and popular podcast brands. It will now operate as part of Midroll Media, which was acquired by Scripps in July 2015.
"The Stitcher brand is recognized to be an early mover and innovator in on-demand audio, especially with connected cars," saidAdam Symson, chief digital officer for Scripps. "Stitcher's data-driven technology has made it a leader in podcast discovery and audio distribution, which will complement Midroll's leadership in content creation and advertising sales."
Stitcher's backend technology and user experience tackle one of podcast listening's biggest challenges: new content discovery.
"At Midroll, we've always been impressed with Stitcher's incredible reach and pioneering work in the audio landscape," said Erik Diehn, vice president of business development for Midroll. "Together, we can accelerate the podcast industry's growth and further our combined mission to connect ever larger audiences with even more great shows."
