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IHeartMedia bets on AdTech and podcasting as the future of mediaINTL

IHeartMedia bets on AdTech and podcasting as the future of media

IHeartMedia Inc (the company behind the popular iHeartRadio Music Festival) is going to buy EW Scripps Co’s Triton Digital for $230m. The deal will give iHeartMedia, which is the number one audio company in the US, access to Triton’s audio advertising technology and services.

iHeartMedia has been investing a lot in AdTech – it recently purchased Voxnest, Jelli Inc, and Radiojar). The Texas-based firm will now be able to provide audio content complete with full ad service packages to producers and advertisers.

The new services will add to the company’s existing audio distribution platform, which includes radio, on-demand, broadcast, digital streaming, and podcasting. By the way, it is the only company in the industry to provide such a wide range of services.

why it matters
Podcasting has grown in recent years; Spotify even recorded a doubling in listening hours in the last three months of 2020. However, will an AdTech strategy be enough to compete against celebrity podcasts? We're pointing at Spotify’s collaborations with Michelle Obama and Joe Rogan, to name a few.