Spotify, the audio-streaming and media services provider, recently agreed to acquire Reston-based Megaphone, a podcast hosting company, for $235 Million earlier this week.
The company announced the acquisition on its website Tuesday (Nov. 10).
“The acquisition of Megaphone represents the next step in Spotify’s expanding the possibilities of this intimate and screen-less medium,” the company said.
Megaphone is currently headquartered in Reston Station.
CEO of Megaphone Brendan Monaghan and Spotify’s VP of Global Ad Business and Platform, Jay Richman, spoke about the acquisition and the future of the two companies.
“Megaphone provides publishers with a suite of tools and technology to distribute, monetize and measure their shows wherever podcasts are listened,” Monaghan explained. “At the same time, we created a marketplace to aggregate unsold ad inventory from our publishing partners and sell that inventory to premium advertisers based on desired audience segments (demographics, psychographics and even geography).”
The acquisition will allow the company to continue to do this, in a new way.
“The acquisition will allow us to provide products and services to publishers and advertisers in more depth and at a faster pace than we have in the past,” Monoghan said. “We’ll be able to bring new products to our partners, like Spotify’s SAI technology to support even greater revenue generation for publishers and another way for advertisers to reach their desired audience.”
Photo by Marjorie Copson