- IHeartMedia entered into an agreement to buy Voxnest, a tech firm that provides podcast analytics and programmatic advertising tools to publishers.
- IHeartMedia has made a big push into podcasting, and the acquisition is seen as helping sell advertising inventory not sold through direct deals.
- The company also sees an opportunity to sell podcast ads for other publishers with the new technology.
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Music giant iHeartMedia wants a bigger piece of the $2.7 digital audio advertising pie.
IHeartMedia has entered into an agreement to acquire Voxnest, a podcast technology startup, to grow its programmatic audio advertising as a complement to the ads it sells through direct deals.
IHeartMedia declined to disclose the price of the acquisition of Voxnext, in which it previously owned a minority share.
IHeartMedia competes with Spotify and Pandora for ad dollars. Its biggest hits include 500 national podcast shows like “Stuff