6/10/2023 0 Comments Tumblr pocket casts npr thevergeWP Tavern reveals that since May 2018, the platform has been under public media ownership through National Public Radio (NPR), WNYC Studios, WBEZ Chicago, and This American Life. Pocket Casts on the seller block due to cost-saving measuresĪlthough it was in wide regard as one of the top podcasting applications available, financial statements reveal that it was not a profitable venture.īritish media division BBC Studios also held a small ownership stake prior to the acquisition. Moreover, it did not fare well for one of its majority stakeholders.įinancial statements and the subsequent auditor's report from the 2020 tax year reveals this, as NPR lost more than $800,000 on the venture alone. This sparked the NPR Board of Governors to meet last December, resulting in the listed sale of the platform to potential suitors. No financial information on sale is availableĬurrently, there are no financial details relating to the acquisition. However, it is possible that Automattic may have gotten a bargain on Pocket Casts. That is, if its co-owners were also losing money.Īutomattic is seemingly gaining a reputation for acquiring apps that people love to use, breathing new life into those companies to allow them to have a fighting chance at attaining financial stability and longevity. Previously, they've acquired blogging platform Tumblr and journaling platform Day One. This acquisition may also be sparking further growing interest in podcasting technologies, considering a $756,000 investment in Castos and a recent partnership with the Anchor podcast creation platform, currently owned by Spotify.Īnnouncements relating to the acquisition assure that no changes are in the works for current Pocket Casts customers.
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