Also on the Entercom earnings call Friday, CEO David Field said the purchase of Cadence13 and Pineapple Street Media establishes Entercom as one of the three largest podcasting companies in the United States with approximately 150 million downloads per month of programming that Entercom creates or represents for ad sales.
Entercom expects its podcasting division to break even and generate close to $50 million this year. In 2020 the company expects podcasting revenue to grow rapidly and be accretive to earnings.
Field says he already sees momentum in Entercom’s podcasting business with downloads up 72% in Q3. And, he expects podcasting margins to grow nicely in the years ahead.
Field Says Entercom is now well positioned for sustained success in the podcasting space due to the scale of its radio platform and powerful symbiotic opportunities driven by its leadership in sports, news and local personalities.