Barrett Media produces over 20 stories per day on the music, news, and sports media industries. Stay updated on the latest happenings by signing up to receive our newsletters straight to your inbox.
Two of the leading podcast advertising agencies, Oxford Road and Veritone One, have been purchased by Insignia Capital Group in order to form the world’s largest podcast group and leading creator-based media entity. Both businesses will continue to operate independently with future designs for a unified lead brand.
“Brands have been missing out on the full power of audio and creator-led content because these highly fragmented channels are challenging for firms without deep subject matter expertise,” said Dan Granger, CEO of the newly combined organization in a release.
“Our mission is to redefine the value of these channels for advertisers. With Veritone One’s industry-leading tech and data platform, in combination with Oxford Road’s innovation on behalf of brands, we’re creating an agency that sets a new standard.”
“This endeavor is a pivotal moment for brands seeking the next generation of media opportunities,” said Conor Doyle, President of Veritone One. “Podcast, audio, and creator-based media continue to outperform, but the industry still lags behind other mediums in key areas. Having a shared focus will deliver unparalleled leverage, knowledge, and results for our clients, which helps the industry monetize at greater rates. For those of us dedicated to audio, this is a very good thing.”
Additionally, Tony Broglio, President and Partner at Insignia Capital Group said, “The advertising industry continues to rapidly evolve as brands seek more effective ways to reach consumers. We believe these two businesses are at the forefront of digital marketing’s next great evolution with the transformative growth of audio and creator-based advertising. By combining forces, we are empowering brands with unprecedented access to innovative solutions and influential creator networks, setting a new benchmark for the industry.”
Insignia Capital Group is a growth-oriented private equity firm specifically focused on the consumer and business services sectors.
