Two of the biggest public radio platforms are joining forces in the name of podcasting. PRX has invested heavily in podcast production and distribution in recent years, while PRI has remained focused on public radio programming. Together, they will reportedly claim an audience of more than 28.5 million radio listeners and 56 million podcast downloads each month.
As of this year, more than a quarter of Americans—about 73 million people ages 12 and up—reportedly listen to podcasts at least once a month. As that number inches up, chances are the mergers and acquisition strategy in this space won’t be unlike that of media as a whole. For PRI, this is likely also an opportunity to piggyback on PRX’s revenue trajectory; according to the Wall Street Journal, the companies are projecting $38 million in revenue in the first year after merging.
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