This morning venerable podcast hosting platform Libsyn announced its acquisition of Podcast Ad RepsLLC, known as PAR. PAR will be bundled into AdvertiseCast, a previous Libsyn acquisition. Rick Selah and Anthony Savelli, PAR’s founders, and Co-CEOs, will join AdvertiseCast’s leadership team.
PAR was founded in 2018 and reps over 120 podcasters. The company makes about eight-million dollars a year. The company has never taken venture investment.
“I am thrilled to announce this acquisition,” said Libsyn’s CRO Dave Hanley. “On the heels of AdvertiseCast’s continued growth, we looked throughout the industry for additional opportunities to connect great content with our growing roster of advertisers. We quickly identified PAR and its leadership team as best-in-class and believe they will be a great addition to the AdvertiseCast organization. On behalf of everyone at Libsyn, we feel fortunate to partner with industry leaders like Rick and Anthony and to embark on this new chapter of growth as we all look forward to helping more creators thrive.”
PAR founders and Co-CEOs Rick Selah and Anthony Savelli commented, “Our goal at PAR is to empower the creator economy by offering a no-strings-attached, simple advertising service that can amplify the specific creative processes of our podcasters. We are incredibly proud that the vast majority of our original publishers have remained with us since our launch and credit the company’s success to our incredible team and our brand-friendly approach. We are excited to partner with Libsyn and AdvertiseCast and to deliver more services to even more creators on this larger platform.”
Libsyn’s CEO Brad Tirpak continued with the following, which includes a prediction: “With the acquisitions of AdvertiseCast in June 2021 and now PAR, Libsyn is well-positioned to continue to rapidly scale in the podcast advertising market, which PWC estimates will reach ~$3.5 billion by 2025. We plan to continue to invest in our award-winning hosting platform, expand both our host-read and programmatic advertising efforts, and look for new ways to make Libsyn the preferred destination for both creators and advertisers.”
The deal is timelined to close in Q1.
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