
Insignia Capital Group LLC has acquired podcast advertising agencies Veritone One and Oxford Road, creating what aims to be the world’s largest podcast advertising group. The acquisitions are a strategic bet on the growing demand for on-demand audio.
Veritone One was purchased from Veritone Inc. for a potential $104 million, with the final price dependent on 2025 revenue targets. Oxford Road was privately acquired for an undisclosed price. Both agencies will continue to operate independently for the time being, but there are plans to integrate under a unified brand.
Oxford Road Founder Dan Granger will lead the new organization as CEO.
Granger said, “Brands have been missing out on the full power of audio and creator-led content because these highly fragmented channels are challenging for firms without deep subject matter expertise. Our mission is to redefine the value of these channels for advertisers.”
Veritone One President Conor Doyle remarked, “This endeavor is a pivotal moment for brands seeking the next generation of media opportunities. Podcast, audio, and creator-based media continue to outperform, but the industry still lags behind other mediums in key areas. Having a shared focus will deliver unparalleled leverage, knowledge, and results for our clients, which helps the industry monetize at greater rates. For those of us dedicated to audio, this is a very good thing.”
Insignia Capital Group President and Partner Tony Broglio added, “The advertising industry continues to rapidly evolve as brands seek more effective ways to reach consumers. We believe these two businesses are at the forefront of digital marketing’s next great evolution with the transformative growth of audio and creator-based advertising. By combining forces, we are empowering brands with unprecedented access to innovative solutions and influential creator networks, setting a new benchmark for the industry.”
Canaccord Genuity acted as the financial advisor, with Cooley LLP serving as legal counsel to Veritone. Cascadia Capital advised Insignia Capital and Oxford Road, while DLA Piper and Sheppard Mullin provided legal counsel to Insignia Capital and Oxford Road, respectively.