Media Business
“It’s not just meaningful for the creators to be able to access audiences in the language they want, but also to actually build businesses in those territories.”
Published
6 months ago
on
December 29, 2023
By
BNM Staff
AI continues to be a hot-button topic in broadcasting circles. However, iHeartMedia isn’t shying away from its use, claiming the technology will play a big role in its podcast plans for 2024.
In an interview with The Hollywood Reporter, Digital Audio Group CEO Conal Byrne shared that the company will continue to integrate the technology into its podcasting efforts, especially for translation and transcription services.
“It’s not just meaningful for the creators to be able to access audiences in the language they want, but also to actually build businesses in those territories,” Byrne said.
He continued by noting that iHeartMedia and its podcast partners will be better equipped to produce more content with the help of AI.
“I definitely think it means don’t slow down the launch of new shows,” Byrne said. “We continue to launch hundreds of new shows a year to test what’s working.”
Byrne predicted podcast revenue to see expansive growth in 2024, with revenues expected to reach roughly $4 billion by 2025. He added that packaging podcasts for sales will help both the company and creators.
“Podcasters can look beyond the amount of impressions they’re bringing to the table and start to package things a little bigger. We will be doing a lot more of that in 2024 for all of our creators.”
BNM Staff
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Media Business
“We are excited to assist Cheddar in expanding its reach.”
Published
6 months ago
on
December 29, 2023
By
Eduardo Razo
On Thursday, Altice USA, the owner of Cheddar News, took decisive action by selling the financial news streaming service to Archetype, a media company under the ownership of the private equity firm Regent LP.
A few months ago, there were rumblings over a potential sale. Now thatCNBC reports that the agreementis complete, it signifies a departure from Altice USA’s previous substantial investment in the streaming news company.
In 2019, French-Israeli billionaire Patrick Drahi, owner of Altice, acquired Cheddar for $200 million. The aim was to strengthen Altice’s news division.
“Cheddar has helped transform the way millennials have accessed television news since its groundbreaking debut broadcast from an iPhone in 2016,” Archetype said in a statement.
“We are excited to assist Cheddar in expanding its reach as the definitive independent ‘Voice of What’s Next’ empowering new audiences to be informed and engaged citizens in an ever-changing world.”
Altice USA has structured the deal as an “earn out” arrangement, with the specific terms not officially disclosed. However, a source familiar with the matter informed CNBC that Altice USA will collect future proceeds contingent upon Cheddar meeting particular performance targets. Internal projections suggest that these payments could potentially reach around $50 million.
“We are incredibly proud of what Cheddar News has accomplished within the Altice USA portfolio, growing its distribution to reach new viewers with fresh and exciting need-to-know news content,” Keith Bowen, president of news, advertising and programming for Altice USA, said in a statement.
Eduardo Razo
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at [emailprotected].
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Media Business
In total, 13% of time spent listening is spent with AM/FM streams in people 13+. That figure represents a jump up from 6% in 2015.
Published
6 months ago
on
December 28, 2023
By
BNM Staff
According to new figures released by Edison Research, time spent listening to AM/FM radio streaming has doubled in certain demographics since 2015.
In total, 13% of time spent listening is spent with AM/FM streams in people 13+. That figure represents a jump up from 6% in 2015.
Additionally, the percentages differ from demographics. In the 13-34 demo, 19% of AM/FM listening is done via streaming. That is an eight percent rise from the 11% figure it saw in 2015. Those aged 35-54 spend 14% of their time using radio streams, up from 8% during the last study on the topic.
Finally, those 55 and over saw 9% of their radio listening from streams. That represented a rise from the 4% it garnered eight years ago.
The numbers show an interesting result after 2022 data showed that more time was spent with audio taking place on mobile devices over traditional radio for the first time in its data history.
Despite rising numbers on how often AM/FM streams were utilized, Edison Research posited that less than 1% of in-car time was spent listening to streams, with the rest coming at other times.
BNM Staff
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