Entercom has added to its podcast business with an acquisition of Podcorn. It says the acquisition will help advertisers “tap into the hard-to-access micro-influencer community.”
Podcorn calls itself a marketplace of podcast influencers, “connecting unique voices to unique brands for native advertising.”
The transaction values Podcorn at $22.5 million, with an upfront cash payment of $14.6 million and a performance-based earnout over three years. Founders Agnes Kozera and David Kierzkowski will stay on.
Entercom head David Field said the deal “builds on our position as one of the country’s three largest podcast publishers and the #1 creator of original, premium audio content.”
The big media company also owns Cadence13 and Pineapple Street Studios in the podcast space.
Chief Digital Officer J.D. Crowley noted the explosion in podcast programming over the past two years but said only a fraction of those shows generate revenue.
Field said Podcorn makes it easier for brands to collaborate with targeted creators. According to Entercom, this marketplace includes 40,000 creators and an infrastructure for enabling client relationships
“The acquisition fills an industry-wide gap in helping brands of all sizes tap into the hard-to-access micro-influencer community.”
Among the benefits Entercom cites to advertisers are “highly immersive, native formats,” “host reads at scale” and “workspaces where they can craft the ideal relationship and explore deeper formats including reviews, unboxings, guest interviews, panels and topical discussions, which provide true listener value.”