A new podcast company called DWNLOAD Media is set to enter the scene, led by a group of experienced individuals from the media and investment fields, according to sources at Axios. DWNLOAD Media was co-founded by Chris Peterson, formerly the Executive Vice President of Podcasts at iHeart, in collaboration with digital business consultancy, Red Seat Ventures.
DWNLOAD Media has secured a small seed round of funding from Co_Made, an investment firm based in Stockholm that focuses on media and tech companies. Peterson also revealed that early discussions for a Series A funding round are underway.
The launch of the company is aimed at shining a spotlight on the podcasting sector, which has experienced significant fluctuations in valuation and investor interest. The new company has been created to emphasize the importance of content amidst these fluctuations.
DWNLOAD Media’s primary objective is to invest in audio and podcast companies, particularly those operating in the content space, both within the United States and internationally. The company aims to provide investment and growth opportunities to its portfolio companies, supporting their expansion into other areas beyond audio, such as merchandise and live events. The company intends to hold majority stakes in the companies it invests in.
Over the past few years, the podcasting landscape has undergone significant transformations, due to substantial investments in audio by tech giants like Amazon, Apple, and Spotify. The business opportunities on these major platforms still tend to favor the most prominent creators. Peterson believes that this situation will change in the near future, as some of these large companies are shifting their focus from outright acquisitions of audio companies to licensing the rights to more shows.
“In five years, this space will look a lot more like Hollywood,” Peterson predicts. He highlights the presence of exceptional creators, producers, and networks generating a substantial amount of content for these major platforms. Currently, negotiations are marked by a significant power disparity between the companies involved.