Big Broadcasters Loosen Purse Strings For Podcasting | AdExchanger.
NORM PATTIZ: When I was in the radio business, for 25 years there was never a down year. Listenership was growing, and so was revenue. But lately … radio is at best flat and in some cases down. And there’s more consumption done through methods that don’t require listening to a broadcast radio station.
Broadcasters should embrace it because it’s just another form of distributing a radio or audio product. Look at what’s taking place in television. Network television is becoming a tougher business; people are consuming it in different ways. CBS has come out with a podcast platform, and iHeartMedia has said they’ll be moving into this area. The deal made by Scripps to acquire MidRoll [a podcast advertising network] made it clear that this is a space that’s going to get a lot of attention from strategic investors.