ETM - Entercom acquires podcast influencers marketplace Podcorn

Entercom (ETM) trades 4.2% higher premarket after acquiring Podcorn, the largest marketplace for brands to find and collaborate with the most relevant podcasters to create native advertising and branded content at scale.Currently, the transaction values Podcorn at $22.5M with an upfront cash payment of $14.6M and a performance-based earnout over the next 3 years."Introducing Podcorn's marketplace of ~40K 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," Chief Digital Officer J.D. Crowley commented.60% of the 2.5M podcasts in the past decade are created in the past two years.

For further details see:

Entercom acquires podcast influencers marketplace Podcorn