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Business News Deals Digital
Deezer sells podcast app Stitcher
By Andy Malt | Published on Wednesday 8 June 2016
Deezer has sold Stitcher, the podcast app and database it acquired in 2014, to US media company Scripps for $4.5 million. Stitcher will now be integrated into Scripps’ Midroll Media podcast production company and ad network.
“The Stitcher brand is recognised to be an early mover and innovator in on-demand audio, especially with connected cars”, says Adam 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 will continue to provide podcast content to Deezer, while the $4.5 million will come in handy. The streaming service has been raising new funding since abandoning plans for an IPO last year, of course.
“We purchased Stitcher to bring talk content and talk streaming delivery expertise to our product, and we accomplished this when we launched talk verticals in our product in mid 2015”, said a Deezer spokesperson told CMU of the decision to sell the company. “We continue to build our talk offerings on top of the foundation that the Stitcher team provided us with internally from our headquarters”.
“We keep the content and our strategy remains the same when it comes to podcasts”, they added, when asked what this would mean for podcasts on Deezer.
Oh, and since you asked, yes you can listen to the CMU Podcast on Stitcher.
