PRISA and Podimo reach strategic agreement to jointly boost the podcast market in Spain, Latin America and Hispanic USA
The objective is to promote joint initiatives for production, distribution and new business models aimed at the world of podcasting in Spain, Latin America and the US Hispanic market
PRISA Media and leading audio entertainment subscription service Podimo have signed a strategic collaboration agreement with the aim of promoting the joint leadership of both companies in the Spanish-speaking podcast industry. The agreement, which extends over two years, includes the development of various commercial and content initiatives aimed at Spain, Latin America and the United States.
Through this partnership with Podimo, PRISA Audio, the transversal company with PRISA that integrates all of the group's non-linear audio content, will now be able to develop new distribution models. PRISA Media will in turn contribute its content, various brands, and competitive presence in its operating markets, promoting the development of new business models in the world of podcasts.
The collaboration between the two companies includes the non-exclusive distribution by Podimo of open audio subscription content produced by PRISA Media (whose income will be split 50%), as well as the development of various exclusive productions for the service, such as the co-production of 20 original podcasts created by Podium Studios; the creation of 20 spin-offs of the most popular programs on Cadena SER and Podium Podcast; or the co-production of new audio content with EL PAÍS, also distributed exclusively by Podimo.
In addition, the agreement contemplates the exclusive and advertising-free distribution of the open audio content of PRISA Media (Cadena SER, Podium Podcast, El PAÍS, AS Audio, Caracol, ADN Chile, Los40, among others); and a subscription package between EL PAIS and Podimo to jointly reinforce the value of these services. Finally, the organization of events aimed at promoting the development of this industry, as well as scholarship programs, is planned to promote the growth of the sector in the Spanish markets.
For Carlos Núñez, executive president of PRISA Media, “the agreement is a key step in the Group's commitment to new formats and, specifically, to the world of audio, based on permanent innovation and top-quality content. This strategic collaboration with a partner like Podimo also allows us to make significant progress in consolidating our position in a market, such as the Spanish-speaking one, where PRISA has a clear leadership vocation”.
“Podimo aspires to become the leading audio entertainment app in the Spanish speaking markets worldwide (Spain, Latin America and Hispanic USA). This strategic agreement with PRISA will allow us to speed up that process by jointly creating best-of-breed audio content in Spanish, as well as help develop new business models to commercialize audio content from media conglomerates via new sales channels. Spanish is the fourth most spoken language in the world, spoken by more than 535 million people worldwide. Our strategic partnership with PRISA forecasts our assertions that Spanish will become one of the fastest growing podcasting listening languages in this decade,” says Morten Strunge, founder and CEO of Podimo.