According to the Interactive Advertising Bureau, U.S. ad revenue from podcasts rose an estimated 42% to $678.7 million last year and is projected to rise to $863.4 million this year. By 2021 ad revenue from podcasts in the U.S. is expected to exceed $1 billion.
The prospect of a more than 30% gain in ad revenue for podcasts in just 2 years offers attractive opportunities for investors- if you know where to look.
A significant deal is very close to completion which could mean interesting changes for podcast enthusiasts and big gains for this under $10 stock.
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Satellite radio giant, Sirius XM Holdings Inc. (NASDAQ: SIRI) is poised to buy E.W. Scripps Co.’s (NASDAQ: SSP) Stitcher Inc. podcasting unit.
Stitcher owns podcast networks Earwolf and Stitcher Podcasts, with over 50 shows including “Freakonomics Radio” and “Conan O’Brien Needs a Friend.” Its Midroll Media advertising unit also distributes and sells advertising for more than 250 podcasts including “My Favorite Murder” and Oprah’s SuperSoul Conversations.”
Our pick for the day, E.W. Scripps Co. (SSP), is positioned for gains in anticipation of the $300 million deal, which could be announced in the very near future.