Automattic Acquires Pocket Casts
Automattic has acquired Pocket Casts, a popular podcast listening, search, and discovery app for Android and iOS. Australian co-founders Russell Ivanovic and Philip Simpson are staying on to continue leading Pocket Casts as a part of the acquisition. The app allows users to keep all of their podcast subscriptions together in one place and sync between platforms. Previously a commercial-only app, Pocket Casts has been free since it switched to the freemium model in September 2019. Its creators have been monetizing the app through its Pocket Cast Plus tier, which gives users access to desktop apps, cloud storage, watch playback, and themes and icons for $9.99/year. In May 2018, Pocket Casts was acquired by public media organizations NPR, WNYC Studios, WBEZ Chicago, and This American Life. BBC Studios also held a small ownership stake in the platform prior to Automattic’s acquisition. Despite being widely regarded as one of the best podcasting apps available, NPR’s financial statements and auditor’s report from 2020 shows a net loss of more than $800K. The board governing the company met in December 2020 and agreed to sell Pocket Casts. No financial details of the acquisition were disclosed but Automattic may have gotten a bargain onβ¦
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