Sony’s record company plans to rapidly expand its podcast operations with the help of the directors of Somethin ‘Else.
To the Japanese Sony’s international record label Sony Music Entertainment has acquired Somethin ‘Elsen, Britain’s largest independent podcast production company.
According to Sony, the expansion will be led by the current executives of Somethin ‘Else, the company’s founder and CEO Jez Nelson and content director Steve Ackerman. They will take over the management of Sony’s podcast business. Nelson will start leading Sony’s podcast operations in the UK and Ackerman in the US.
“Our new international podcast unit is key to our plans to expand into the market at a rapid pace,” said Sony Music Entertainment’s Digital Business Director Dennis Kooker says.
Somethin ‘Else is the BBC’s largest external partner in the production of audio content.
The production company does not publish its turnover. According to the Financial Times, the holding company of Somethin ‘Elsen made a loss of £ 197,000, or about € 230,000, last year, with net assets of £ 752,000, or about € 876,000. The parties have not disclosed the price of the acquisition.
market The appeal is reflected in the fact that podcast production companies and platforms have been acquired by Amazon, Spotify and Apple, among others.
In the case of Spotify and Sony, podcasts are a way to diversify the offering and reduce reliance on music streaming.
Spotify has already made podcast purchases for nearly $ 1 billion, or about $ 830 million. In addition to acquisitions, the music streaming company has entered into agreements, for example Michelle Obaman, Kim Kardashianin as well as the British Prince Harry and the Duchess of Sussex Meghanin with.