Sitting beside Shaq and Adam Carolla, PodcastOne CEO Norm Pattiz tells Forbes media writer Zack O’Malley Greenburg that even though podcasting was only a $34 million business when he got into it, he expects another zero will be added to that in short order. And Pattiz believes he can turn PodcastOne into a national juggernaut much like he did with Westwood One.
Greenburg reports that PodcastOne accumulated over 1.5 billion downloads from its podcasts in 2015 and generated $20 million in revenue, up from about $2 million in 2012.
Pattiz says after starting with about six advertisers, using the 50/50 revenue share model, PodcastOne now has over 100. And, for sure, the list of stars parking their podcasts on the PodcastOne site has grown, including Carolla, Shaq, Larry King, Snooki, and others.
In August, Hubbard Broadcasting bought a 30% stake in PodcastOne for a reported $10 million. And more recently, PodcastOne began moving its content behind a paywall to generate revenue from users. The full piece on Pattiz and PodcastOne is HERE. The print issue of Forbes hits the newsstands next week.
Picture courtesy Forbes.com
