Stitcher was seeking a buyer a few weeks ago, with Spotify being named as a potential suitor.
Should the deal go through, Sirius would get decent firepower to boost its podcast operation, which consists of Pandora’sStitcher is the Scripps-owned entity that houses Midroll, a big podcast ad network , and Earwolf, a popular comedy podcast network with a roster of shows including “Conan O’Brien Needs a Friend.” In June 2020, 18 out of the top 100 podcasts were Stitcher originals, according to investment bank B. Riley FBR.
While this Stitcher portfolio presents opportunities for Sirius to extend the reach of podcast ad campaigns and exclusive podcasts , keep in mind the deal won’t immediately turn Sirius into some sort of podcasting giant, at least by measure of podcast listeners. Stitcher is no newbie in the podcast space, but it’s probably not the app that most casual podcast listeners flock to when they first start listening to podcasts. Apple Podcasts and Spotify accounted for over 70% of podcast listening as of Sep. 2019, while this figure was 2.3% for Stitcher,Sure, that was almost a year ago, though Stitcher likely hasn’t shedded challenger status since then: Stitcher currently controls a “low-single-digit” percentage of U.S.
Additionally, while Stitcher controls a big podcast advertising operation with Midroll, its revenue streams are relatively small when compared to those of Sirius’. Stitcher generated
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