Briefing

Stitcher deal with ‘My Favourite Murder’ podcast creators that could top US$10 million

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Exactly Right Network, maker of the popular true-crime podcast, signed a two-year deal with Stitcher owner E.W. Scripps Company that will see them develop more than a dozen new shows for the audio platform. (The Wall Street Journal)

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Talking point: The Journal called the deal one of the largest of its kind. It’s just the latest sign of the burgeoning podcasting gold rush. In February, Spotify acquired podcast networks Gimlet and Anchor in deals worth a combined US$340 million. (Gimlet, which launched five years ago with the autobiographical podcast “Startup,” released a three-episode series taking listeners inside the process of closing the deal.) U.S. podcasting ad revenue rose 53 per cent to US$479 million last year, and is expected to exceed US$1 billion by 2021. But there’s still room for the medium to grow: roughly a third of Americans say they listen to a podcast at least once a month; Canadian listenership is at a comparable level.