Sound + Vision. Entercom, US audio company and owner of digital audio app RADIO.COM has acquired Pineapple Street Media, producer of quality podcast content, and has announced its intention to acquire Cadence 13 a podcast creation and distribution company.
Entercom claims to reach an audience of 170m through its local radio, digital and events brands. The two deals totalled $70m with £$18m going to the owners of Pineapple Street Media and the remainder for Cadence 13 in two tranches as the company bought a 45% stake in 2017. “Radio is going through a renaissance,” said Entercom Chief Executive David Field, with podcast advertising revenue climbing 53% to almost $500m in 2018 and expected to double to $1bn by 2021.
