The country’s FM spectrum is congested, and attempts to free up some of the spectrum for new players is proving difficult
iHeartMedia announced it has entered into an agreement with The E.W. Scripps Company to acquire Triton Digital for $230 million, subject to adjustments. With this acquisition, iHeartMedia will now be able to provide audio content to producers and advertisers with a full ad service package for streaming and podcasting no matter their size, reach or distribution method.
iHeartMedia sees the addition of Triton Digital’s array of infrastructure and measurement solutions as complementing its current advertising technology services, data platforms and programmatic platforms, while providing additional solutions for those in the digital radio industry. The company points out that it will be the “first in the audio market” to provide four distribution methods for audio, including on-demand, broadcast and digital streaming radio and podcasting, and to service all audio assets programmatically.
“Adding Triton Digital and its industry leading services to the iHeartMedia audio ecosystem establishes iHeartMedia as the only company with a total audio advertising technology and data solution,” said Bob Pittman, chairman and CEO of iHeartMedia, Inc.
Triton Digital is an advertising technology SaaS platform for audio streaming, podcasting and metrics. It operates in more than 50 countries. Its technology enables publishers to monetize their audiences by providing digital audio measurement and advanced audio-focused infrastructure to maximize the yield of audio inventory. The company’s two lines of business focus on advertising infrastructure and measurement, including a content delivery system that distributes digital audio streams and podcasts to listeners while dynamically inserting ads and measurement business that tracks audience and creates ratings reports.
In addition to measuring audiences for customers, Triton Digital operates a programmatic marketplace for digital audio programmatic ad-buying and Yield-Op, a Supply Side Platform that specializes in audio and enables programmatic audio advertising.
“We are thrilled to join the iHeartMedia family,” said Neal Schore, CEO of Triton Digital. “We remain deeply committed to providing the world’s broadcasters, podcasters and online audio publishers with continuously innovated, best-in-class solutions and services for online audio management, advertising and consumption data, and are well positioned to enhance iHeartMedia’s value proposition to audiences and advertisers.”