Nation Broadcasting, the fast-growing radio and media group, has made a major strategic funding in Podcast Radio, changing into the corporate’s lead investor in its newest fundraise.
The deal sees Nation taking a ten% curiosity in Podcast Radio, which launched two years in the past and makes use of the belief folks have in radio to assist them pattern and select podcasts.
The station at the moment broadcasts on DAB+ in London, Surry, Manchester and Birmingham in addition to through sensible audio system, its personal app and web site.
In its present funding spherical – valuing the corporate at £2.9 million – Podcast Radio’s administration are getting ready to develop the station internationally and strengthen its on-air providing.
Nation Broadcasting is without doubt one of the UK’s quickest rising media corporations with a portfolio of nationwide, regional and native industrial radio stations, digital advertising companies and investments in DAB transmission throughout the UK and Channel Islands. The group has a mixed weekly viewers of almost 5 million listening hours in keeping with RAJAR.
Jason Bryant, Founder and Govt Chairman of Nation Broadcasting, stated: “We’ve been impressed by the expansion of Podcast Radio and see the massive potential of their growth plans into North America and Australia.
“We see vital worth development within the firm because it provides bespoke model extensions and additional streams in areas resembling sports activities, enterprise and well being.”
Gerry Edwards, Founder and CEO of Podcast Radio, stated: “We warmly welcome Nation Broadcasting as a strategic companion in our enterprise. We consider they’ll add true worth to what we already do and can assist us develop and develop internationally.”
Podcast Radio director Paul Chantler added: “Now we have some daring and thrilling new concepts for the way in which podcast content material is offered radio which we wish to implement later this 12 months. Jason and his workforce at Nation will assist us do that.”
Podcast Radio is monetized by promoting conventional on-air promoting and sponsorship; inserting commercials into its on-line audio stream; partnering with worldwide content material makers; and making unique podcasts and bespoke audio content material.
The corporate raised preliminary capital from angel traders and an fairness fundraising marketing campaign final 12 months. Different traders embrace US manufacturing firm Evergreen, entrepreneur Simon Squibb and former BBC Radio 1 DJ and businessman Bruno Brookes.
The most recent fundraising spherical has a goal of £500,000 and, along with the Nation funding, different personal people have already dedicated an additional £100,000 into the corporate.
