PodcastOne Targets Crypto Network, Strengthens Monetization With Art19.

It may be an audio company, but PodcastOne sees the cryptocurrency and blockchain space as part of its growth strategy going forward. Vice Chairman Steve Lehman is leading the charge, saying he sees it as a “really interesting opportunity” for PodcastOne to roll up and consolidate hundreds of crypto-focused podcasts into a unified network.

“There is an incredible opportunity for consolidation in the crypto podcast world,” Lehman said. “This creates an opportunity for PodcastOne to become a crypto megaphone in both audio and video, and to become a credible source of crypto information.”

Lehman, who is leading PodcastOne’s M&A initiatives, explained during the company’s earnings call Thursday that a network of crypto-focused shows opens the door to specialized advertising dollars from industries like cryptocurrency mining. “There are hundreds of crypto podcasts that I think creates a really interesting opportunity for PodcastOne to not only look at roll-up and consolidation but to really form powerful strategic alignment,” Lehman said.

President Kit Gray added that the crypto move builds on the core strengths of PodcastOne’s model — connecting passionate communities to trusted hosts.

“When we look at the crypto space, it’s exciting because it has a very passionate, loyal fan base,” Gray said. He noted that bundling these shows together will allow for cross-promotion and additional revenue streams, while also providing creators with tools to produce more content and engage fans deeply.

PodcastOne’s crypto strategy includes not only launching a curated slate of original crypto podcasts but also exploring tokenization opportunities for shows. This could involve creating blockchain-based revenue models and even allowing fans to hold digital assets linked to podcast content, unlocking new ways to interact with creators and monetize intellectual property.

The crypto strategy aligns with PodcastOne’s broader goal of diversification and revenue growth. Its roster has grown to 206 shows, with 10 new programs added in the most recent quarter. The company also brought in 64 new shows during 2024, underscoring a steady pipeline of new content. Gray noted that many shows are actively seeking better service and monetization opportunities, positioning PodcastOne as an attractive network for creators.

“There’s a lot of great shows out there that may not be getting the services that they want or need. We have a great reputation for servicing those partners, working with them to monetize their content, get higher CPMs, and grow,” he said.

PodcastOne ended its fiscal year with a debt-free balance sheet, which leadership sees as a key strength for pursuing M&A. CFO Ryan Carhart noted that the company recently completed financing with JGB Capital to replace its line of credit, which will help facilitate signing new podcasts and potential network acquisitions.

Gray also highlighted that many current partners are expanding within the network, such as the Killer Network and shows associated with the History Channel, reflecting internal growth alongside potential acquisitions.

Good Start To Art19 Arrangement

PodcastOne is also looking to grow its advertising revenue, having officially migrated its distribution to Amazon’s Art19 platform. The Art19 arrangement adds a third major revenue channel alongside the company’s robust direct sales and programmatic ad business.

Gray described the transition as a win for operational efficiency and revenue growth. “There’s a ton of operational efficiencies that we’ve talked about and cost savings with that deal,” he said. “As we implement some of the other more efficient, better services to replace what we had in the back setup with our previous partners, there will be great cost savings throughout the year moving forward.”

PodcastOne hit its first minimum guarantee milestone with Art19 in April, and Gray noted that it also met that benchmark again in May. The agreement with Art19 is structured as a tiered deal based on impressions, with the initial threshold set at 90 million impressions per month and the next target at 110 million. Once PodcastOne maintains that higher level for three consecutive months, it unlocks a higher minimum guarantee from Amazon.

From an advertising perspective, the partnership has already proven fruitful. PodcastOne is seeing more demand for inventory, higher CPMs, and stronger sellout rates.

“We’re seeing more demand on our inventory and as our inventory grows, we’re seeing higher CPMs,” Gray said. “And as Amazon competes to package podcasts alongside other advertising opportunities, we’re seeing higher sellout rates.”

Overall, he said PodcastOne’s advertising business remains strong despite broader economic uncertainty. “We are seeing more advertisers jumping into the space, doing different things,” Gray explained, adding that the company is also expanding into areas like programmatic audio, embedded ads, live events, and social media campaigns. “We want to make sure we’re taking maximum opportunities with our current inventory and partnerships while growing with new content,” he said.