Spotify takes over Australian podcast platform
When radio industry veteran Rob Loewenthal was trying to come up with the name of his podcasting company in 2016, he thought of his friend, prominent investigative journalist Hedley Thomas.
“[He] always backs up long shots in races and they go ‘Whooshkaa’ down the straight and beat the favorite, âLoewenthal said. âI thought, ‘wouldn’t it be nice to have a business like one of Hedley’s horses.’ “
Whooshkaa has lived up to its name. On Friday, audio giant Spotify announced it had acquired the Australian podcasting platform that hosted Thomas’ resounding success. The teacher’s pet for the Australian newspaper among a plethora of other broadcasts. Terms of the transaction have not been made public.
This is the first Australian acquisition of Spotify, historically a music streaming service that has embarked on a major breakthrough in podcasting over the past two years. The Swedish company, which has 381 million users worldwide and a market value of $ 43 billion ($ 60 billion), has spent substantial sums to buy the exclusive rights to top podcasts, but sometimes podcast shows. controversial, such as Joe Rogan experience and Bill simmons The ring.
Whooshkaa, based in Surry Hills in central Sydney, offers something a little different.
In a press release, Spotify made it clear that Whooshkaa’s tools for traditional broadcasters to turn their programming into podcasts, insert ads, and distribute it to listeners through services like Spotify, are “at the heart of it.” acquisition â.
These tools will be integrated with Megaphone, another platform for podcast businesses that Spotify purchased last year.
The idea is that broadcasters will have a one-stop-shop to turn otherwise time-limited broadcasts into sustainable media that can earn money from the ads that Spotify sells through its audience network, an ad marketplace, and be measured and monitored thereafter.
âWe believe that the global growth potential of digital audio is still largely untapped,â said Dawn Ostroff, Director of Content and Advertising, Spotify. âWith the addition of these new tools and the innovative team that supports them, we are strengthening our commitment to helping creators, publishers and advertisers realize the value of this opportunity. “