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Podcasting got a lot of airtime on Entercom’s earnings call Tuesday morning. CEO David Field said Entercom is now one of the three biggest podcast companies in the United States.
Entercom CFO Rich Schmaeling said Entercom took in over $12 million in podcast revenue in the 4th quarter of 2019. Entercom owns Cadence13 and Pienapple Street Media which they acquired in 2019 to bulk up their podcast strategy and help them produce original content. Field said Entercom podcasts now receive 2 billion annual downloads.
Schmaeling said podcasting is very complimentary to Entercom’s core business and will provide the company with a significant amount of revenue synergies moving forward.
When giving revenue guidance for the first quarter of 2020, Field said he expects revenue growth of 3-4%, however, he expects revenue to be flat for the company outside of podcasting.