The company already owns podcast platforms Midroll and Stitcher.
Expanding further into digital audio, the E.W. Scripps Company in 2018 spent $150 million to acquire Triton, a global digital tech and measurement service company.
Triton powers or measures streaming music and podcasting for top-tier audio brands including Pandora, Spotify, NPR, iHeart, Entercom and Cumulus, as well as international players Prisa (Spain), Mediacorp (Singapore) and Karnaval (Turkey).
Triton’s infrastructure and ad-serving solutions deliver live and on-demand audio streams and insert advertisements into those streams. Triton’s data and measurement service is recognized as the currency by which publishers sell digital audio advertising.
The acquisition is in keeping with Scripps’ overarching initiative to grow its digital audio business while selling off its terrestrial radio stations. Scripps also owns podcasting platforms Stitcher and Midroll.
Although still primarily focused on growing its portfolio of TV stations, Scripps sees its investment in digital audio as opportunity to be in on a growth industry and capitalize on consumers’ move to digital platforms, from handheld devices to smart cars.
“Whether it’s through smartphones or smart speakers, consumers are increasingly engaging with digital audio content,” said Laura Tomlin, Scripps senior vice president of national media. “Triton powers or measures streaming music and podcasting for many of the biggest names in audio. With its leadership position in digital audio measurement and infrastructure, Triton complements Scripps’ position in the growing digital audio marketplace.”