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LiveOne Signs Letter of Intent to Acquire Kast Media

The proposed acquisition is projected to generate annual consolidated revenue of more than $10 million for LiveOne.

Maddy Troy

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LiveOne has signed a letter of intent to acquire certain assets of Kast Media, a Los Angeles-based podcast network and production company. The deal, which is expected to be an all-stock transaction, would integrate Kast Media’s portfolio of over 25 weekly podcasts and 33 million monthly downloads into LiveOne’s PodcastOne, bolstering its podcast division ahead of its planned spin-off into a standalone company.

According to Podcast News Daily, while the financial details have not been disclosed, the proposed acquisition is projected to generate annual consolidated revenue of more than $10 million for LiveOne, contributing to the growth of both earnings and revenue.

Kast Media CEO Colin Thomson expressed excitement about the potential deal, highlighting the advanced infrastructure of LiveOne and its operational excellence as key factors in elevating their mission of entertainment, information, and inspiration.

Thomson stated, “LiveOne’s commitment to our premium original podcasts will allow us to expand IP development and production to increase our original owned content slate.”

Kast Media is a prominent independent podcast network in Los Angeles, boasting a diverse portfolio of shows across various genres with a reach of over 13 million unique listeners/viewers per month. They have achieved recent success in talk and narrative podcasts, featuring shows like The Sarah Silverman Podcast, Was It Real? The Hills Rewatch, and Welcome to the OC Bitches. Additionally, Kast Media has secured TV development deals for forthcoming podcasts.

LiveOne, with its presence in video and online television, sees Kast Media’s efforts as a compatible fit. CEO Robert Ellin expressed admiration for Kast Media’s podcast programming and host talent, envisioning collaboration that will deliver original programming with potential for second window TV.

It should be noted that the letter of intent is non-binding, and the completion of the deal depends on factors such as due diligence and the resolution of Kast Media’s outstanding obligations. The companies have not provided a specific timeline for finalizing the agreement.

LiveOne’s strategic move to expand its podcast business aligns with its plans to establish PodcastOne as a separate public company. The acquisition of Kast Media is viewed as an initial step in this direction, enabling LiveOne to consolidate smaller podcast businesses and capitalize on the evolving podcasting landscape.

According to Ellin, podcasting is entering its second generation, and LiveOne aims to leverage this opportunity for growth.

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Media Business

Curtis LeGeyt: NAB ‘Depend on AM’ Radio Campaign ‘Played Crucial Role’ in Support for Congressional Bill

“We are making significant progress, but our work is far from over.”

Barrett News Media

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A photo of Curtis LeGeyt
(Photo: Jay Mallin NAB)

The AM Radio for Every Vehicle Act continues to wait to be voted on by both houses of Congress. NAB President/CEO Curtis LeGeyt believes an initiative from the organization played a paramount role in garnering support for the legislation.

In a story authored by the executive for Radio Ink, he made the case that the “Depend on AM” campaign released by the organization was pivotal for Congressional support for the industry.

“The NAB’s Depend on AM campaign has played a crucial role in rallying this support. We’ve emphasized the importance of AM radio not just as a cultural, news and sports hub, but also as the resilient lifeline during emergencies, offering unmatched reach and reliability,” LeGeyt wrote. “This legislation ensures that AM radio remains accessible to all Americans, especially during public safety crises. We are making significant progress, but our work is far from over.”

Curtis LeGeyt claimed more than 250 members of the House of Representatives and 62 Senators have backed the bill that would require automakers to include AM radios in new and electric vehicle models or require manufacturers to inform customers the new model was not equipped with the band.

The NAB has been a vocal proponent of the bill’s passage, with LeGeyt testifying in front of Congress in support of the legislation.

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Media Business

Local News Becoming Less Prevalent on Radio, New RTDNA Study Shows

68.4% of locally-owned operations air local news updates, while 54.1% of non-locally owned outlets do the same.

Barrett News Media

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RTDNA logo

Local news has been a focal point for radio stations for decades. But that may be fading away, a new RTDNA study shows.

65% of commercial stations still air local news in 2024, down slightly from 66.2% in 2023. Non-commercial stations have dropped 12% points in the past two years, down to just 60.7% airing local news.

However, the disconnect appears to come from locally owned stations versus non-locally owned. 68.4% of locally-owned operations air local news updates, while 54.1% of non-locally owned outlets do the same.

Not only are there drops in the number of stations broadcasting local news, but the airtime those updates occupy has also shrunk, according to the RTDNA study.

“The biggest drop in average minutes came in large markets, suggesting that fewer all news or news/talk stations there filled out the Survey this year,” the study states. “Medium markets are down a bit; small markets dropped an average of over 20 minutes per weekday.”

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Media Business

YouTube Largest Podcast Discovery Platform By Wide Margin, Westwood One Study Shows

Not only is the Google-owned video platform the most used among podcast newcomers, but it also holds that distinction for heavy podcast consumers and longtime podcast listeners.

Barrett News Media

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A photo of the YouTube logo displayed on a phone

In the span of three years, YouTube has gone from the third most popular podcast discovery platform to the top spot, a Westwood One study suggests.

In a study of more than 600 weekly podcast listeners, 31% say YouTube is the most utilized podcast listening platform. 21% say they use Spotify most frequently, while 12% claimed Apple Podcasts was their go-to destination.

Not only is the Google-owned video platform the most used among podcast newcomers, but it also holds that distinction for heavy podcast consumers and longtime podcast listeners.

YouTube’s podcast listening profile is slightly more male-dominated and also younger than the typical Apple Podcasts audience, according to the results from Westwood One Audio Active Group.

Naturally, the majority of Apple and Spotify users utilize smartphones to access their favorite podcasts, while 38% of YouTube’s audience uses computers and televisions for their favorite shows.

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