Sonos — a company known for their speakers — is quietly becoming a player in the world of audio content. The company launched Sonos Radio earlier this year and last week investing in the studio that produced Demi Moore's series "Dirty Diana."
The Santa Barbara-based manufacturer along with C Ventures sunk $6.4 million into QCODE, the Los Angeles podcast startup run by a former Creative Artists Agency talent agent. Sonos is taking a page from other tech giants that have been acquiring and investing heavily in small podcast studios.
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Artists behind any of the 50 million-plus tracks featured on Spotify may start to see a new trickle of royalty revenues coming in starting Wednesday. The Swedish company has taken another step to expand its podcast offerings by drawing on its musical roots.
Podcasters using Spotify's podcast-creation tool Anchor, which the company acquired in early 2019, can now include songs from Spotify's extensive library in their podcasts. Just as artists receive royalties on their music streams, so too will they get paid for songs that appear in Spotify podcasts.
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West Hollywood-based Dear Media announced Thursday that it raised $8 million from Magnet Companies, a private equity-backed holding company with offices in New York and Los Angeles.
Dear Media is a podcast network focusing on female voices, with a roster of over 40 hosts including lifestyle guru Lauryn Evarts of "The Skinny Confidential," Jackie Schimmel of "The Bitch Bible," and wellness and nutrition experts Wendy Lopez and Jessica Jones. The network, whose podcasts can be heard on typical channels like Apple Podcasts and Spotify, targets an audience of mostly millennial and Gen-Z women who want to engage with podcast hosts across multiple channels, chief executive Michael Bosstick told dot.LA.
Dear Media is a West Hollywood podcast network focusing on female voices.