Acquisition Transforms Libsyn into a Leading Player in the European Podcast Market
PITTSBURGH, PA / ACCESSWIRE / October 17, 2022 / Liberated Syndication Inc. ("Libsyn" or the "Company"), the leading "Podcasting As A Service" platform, today announced it has closed the previously announced acquisition of Julep Media GmbH ("Julep"), Germany's largest independent platform for podcast advertising.
Since its acquisition of AdvertiseCast in June 2021, Libsyn has become the go-to-destination for creators to monetize their podcasts through advertising and for brands looking for exposure to the podcast media market. The addition of Julep to the AdvertiseCast platform now allows Libsyn to enter the fast-growing German market and to expand to neighboring regions. In only three years since its founding, Julep has rapidly grown across the entire German podcast ecosystem, monetizing over 500 podcasts and more than 50,000 episodes, distributing over 45 million downloads per month, and providing advertising solutions to more than 300 brands and agencies. Brad Tirpak, Libsyn's CEO, said, "Julep provides Libsyn with the immediate scale to become a leading force in podcast monetization in both Germany and the broader European market. Now that the acquisition had closed, we look forward to working with the Julep management team in rapidly expanding our presence throughout Germany and Europe."
Steffen Hopf, Julep's CEO, said, "The Julep team couldn't be more excited than to join forces with Libsyn and to learn from their long history of innovation in the podcast industry. The European podcast market is still in its early stages, so this combination of our two companies comes at the perfect time to accelerate our growth and development."
Mr. Hopf, who has served as Julep's CEO since the company's founding in 2019, will continue in his current position and will assume new responsibilities for Libsyn's international efforts throughout Europe. The rest of Julep's management team will also remain in place for at least the next three years.
The combined companies of Libsyn and Julep will now connect over 3,000 creators to over 750 advertisers who are looking to tap into the fast-growing podcast media market. Per the PwC / IAB Podcast Advertising Revenue Report, US podcast advertising revenues are forecasted to exceed $2 billion in 2022 and double to over $4 billion by 2024, with the European market also experiencing strong annual growth of ~24% according to KBV Research.
Wolfson Partners LLC served as Libsyn's financial advisor and Noerr Partnerschaftsgesellschaft mbB and Faegre Drinker Biddle & Reath LLP served as Libsyn's legal counsel. Crossgate Corporate Finance served as Julep's financial advisor and BMH Partners and Hughes, Hubbard & Reed LLP served as legal counsel to Julep. BLOMSTEIN Rechtsanwälte provided regulatory services to Julep.
To learn more about the Julep offerings, click here.
About Liberated Syndication
Founded in 2004, Liberated Syndication Inc. ("Libsyn") is the leading 'Podcasting As A Service' platform that empowers creators to host, distribute, monetize, amplify, and measure their audio content. In 2021, the Company delivered over 6 billion downloads and hosted over 5.8 million podcast episode files from more than 75,000 podcasts around the world. Libsyn's dynamic, open ecosystem is designed to meet the needs of the full spectrum of podcast creators and foster the effortless creation, development, monetization, and growth of their podcasts. Brands powered by the Company include podcast creation platform, Libsyn Studio; Glow; web hosting platform, Pair Networks; and Libsyn's AdvertiseCast, the industry's premier podcast advertising marketplace that connects advertisers with podcasters. Visit libsyn.com or investor.libsyn.com for more company information.
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Media Contacts:
Ray Yeung + Nancy Zakhary | ray@relev8.co+ nancy@relev8.co
Investor Relations:
investor@libsyn.com
Forward-Looking Statement
This press release includes statements which may constitute forward-looking Statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "anticipate," "believe," "could," "estimate," "expect," "feel," "forecast," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "would," "will," and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements contained herein may relate to future events, including our financial performance, the closing of the PAR acquisition, the anticipated timing of the closing of the PAR acquisition, and the integration of PAR with AdvertiseCast and Libsyn.
These statements are subject to risk, uncertainties, and assumptions as to future events and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, those related to the outbreak of the coronavirus ("COVID-19") and the global spread of COVID-19 during 2022, our change in business strategy towards more heavy reliance upon on our new talent segment and wholesale channels, our recent management and Board of Directors changes, actions of regulators (including the Securities and Exchange Commission) concerning our business operations or trading markets for our securities, the extent to which we are able to develop new services and markets for our services, our significant reliance on third parties to distribute our content, the level of demand and market acceptance of our services and the "Risk Factors" set forth in our most recent Annual Report on Form 10-K, Quarterly Reports on 10-Q and other Securities and Exchange Commission filings.
SOURCE: Liberated Syndication, Inc.
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