Entercom Buys Podcast Ad Platform Podcorn

Acquisition

ENTERCOM has acquired podcast advertising platform PODCORN from co-founders AGNES KOZERA and DAVID KIERZKOWSKI for $14.6 million cash upfront and performance bonuses that ENTERCOM says places the company's value at $22 million. KOZERA and KIERZKOWSKI will join ENTERCOM and continue to lead PODCORN, which lets advertisers buy ads on independent and smaller podcasts.

“The acquisition of PODCORN expands ENTERCOM’s product offering for advertisers and builds on our position as one of the country’s three largest podcast publishers and the #1 creator of original, premium audio content,” said ENTERCOM Chairman/Pres./CEO DAVID FIELD. “By making it easier for brands to collaborate with targeted podcast creators of all sizes, we are addressing an important market opportunity in the fastest growing segment of media.”

“Given the success that podcasters and brands have seen on PODCORN, we’re excited to join ENTERCOM’s growing audio platform to accelerate our vision and help brands and podcasters succeed in an even bigger way,” said KOZERA. “Together, we hope to provide the most effective podcast influencer marketing solution for brands and become the largest driver of brand deals for podcasters of all sizes.”

ENTERCOM Chief Digital Officer J.D. CROWLEY added, "Introducing PODCORN’s marketplace of nearly 40,000 creators to our robust podcast audience network will enable advertisers to target the right listeners with the most effective media available to brands today -- custom, host-read, branded audio content at scale... Remarkably, only a fraction of podcasts generate revenue. We want to change that. Bringing together independent creators, chart-topping talent and advertisers under one roof, and providing the tools to streamline collaboration, transparency and efficiency provides greater value for advertisers, creators and listeners alike.”

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