Cineverse Podcast Network Surges to 9.6 Million Unique Listeners and 12.7 Million Downloads in April 2024
Cineverse Podcast Network achieved significant growth in April 2024, with 9.6 million unique listeners and 12.7 million downloads, ranking #8 in North America for listeners and #17 for downloads & streams. The success is attributed to hit entertainment, horror, and true crime shows, with new series and expanded ad sales team driving further growth.
Revenue surged by 49%, advertiser appeal increased, and expansion plans include video-first podcasts, new shows under RetroCrush and Midnight Pulp brands, and a strengthened ad sales team. The company aims to reach over 20 million monthly downloads and streams and become a top five podcast network within 18-24 months.
Cineverse Podcast Network achieved significant growth with 9.6 million unique listeners and 12.7 million downloads, ranking #8 in North America for listeners and #17 for downloads & streams.
The network's revenue surged by 49% and advertiser appeal increased, leading to opportunities for leading brands to leverage host-read ads and custom branded episodes.
Expansion plans include video-first podcasts, new shows under RetroCrush and Midnight Pulp brands, and a strengthened ad sales team to drive monetization of ad inventory.
The company aims to reach over 20 million monthly downloads and streams and become a top five podcast network by unique audience within the next 18-24 months.
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Fueled by Hit Entertainment, Horror, and True Crime Shows, Network Ranks #8 in
Exciting New Shows and Expanded Ad Sales Team Poised to Drive Further Growth
The network's success can be attributed to its ever-expanding slate of gripping content, including top series like The Dead, Murder in America, and Creepy. In addition to the Dead Space podcast released in partnership with Electronic Arts' Motive Studio that is already tearing up the charts, fans can look forward to the highly anticipated second season of the Apple Podcasts 2023 top fiction pick, Mayfair Watchers Society, set to premiere on May 30th. Other upcoming releases include Nightmare Soup in June and Shelterwood on August 15th.
This growth is happening under the direction of the Cineverse Podcast Network's Managing Director of Audio Tom Owen and Head of Original Programming Pacific Obadiah, who were named to these new positions in November 2023.
Cineverse Podcast Network Highlights:
- Revenue surge:
49% increase as of April 30, 2024, compared to the previous 60 days - Advertiser appeal: Leading brands, including movie studios, leverage the network's unique opportunities through host-read ads, programmatic, and custom branded episodes
- Expansion plans: Video-first podcasts for YouTube and Spotify Video, plus new shows under the RetroCrush (anime) and Midnight Pulp (cult films and TV shows) brands
- Strengthened ad sales team: Newly appointed head of ad sales, Terry City, along with additional west coast and midwest sales representatives, to drive monetization of rapidly increasing ad inventory
- Publisher development: Added resources to expand publisher development efforts, resulting in the addition of 14 high-performing podcasts over the last two quarters
"Momentum is on our side, having passed 12 million monthly downloads, increased the number of shows to more than 40 and nearly doubled our revenue due to advertisers recognizing the unique opportunities we bring to their brands -- from movies to retail to apparel," said Owen. "By leaning into video, something that our brands like Bloody Disgusting and SCREAMBOX are known for, and expanding our original shows into anime with RetroCrush and cult films and TV shows with Midnight Pulp, with more to follow, we are only getting started."
Erick Opeka, President & CSO of Cineverse, added, "The company is focused on increasing our downloads and streams to over 20 million per month by the end of the fiscal year, and becoming a top five podcast network by unique audience within the next 18-24 months. Given the sizable upside to monetization, our podcast network has emerged as the next key high-growth revenue stream for the company."
With a library of over 40 shows catering to every entertainment, horror, and true crime enthusiast and exciting plans for growth, Cineverse Podcast Network is cementing its position as the ultimate destination for captivating audio content.
Based on data from Spotify's Megaphone platform & internal company data on additional streams from April 1 - 30, 2024.
About Cineverse
Cineverse's advanced, proprietary technology drives the distribution of over 71,000 premium films, series, and podcasts to more than 82 million unique viewers monthly. From providing a complete streaming solution to some of the world's most recognizable brands, to super-serving their own network of fan channels, Cineverse (NASDAQ: CNVS) is powering the future of Entertainment. For more information, please visit cineverse.com.
Press Contact:
For Media
The Lippin Group, cineverse@lippingroup.com
For Investors
Julie Milstead, investorrelations@cineverse.com
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SOURCE Cineverse Corp.
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