IHeartMedia acquires Voxnest to beef up programmatic advertising

  • 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.
  • Visit Business Insider’s homepage for more stories.

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

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Supply chain complexity, a varied understanding across metrics that measure return on investment, brand safety, and, in particular, transparency are some of the pressing issues that hinder brands and marketers from executing their digital advertising strategies and achieving the desired business outcomes. Thankfully, steps are being taken in the programmatic industry which aims to address those issues.

The growth in content consumption in social media, video-streaming platforms and mobile apps has encouraged brands and advertisers to shift their

Read More