iHeartMedia and Exactly Right Media Partner to Bring “My Favorite Murder” and the Full ERM Lineup of Shows to iHeartPodcasts

Rhea-AI Summary

iHeartMedia, the global leader in podcast publishing, has announced a strategic partnership with Exactly Right Media (ERM). The deal makes iHeartMedia the exclusive sales, marketing, and distribution partner for ERM's entire podcast portfolio, including their flagship show 'My Favorite Murder' and 13 other premium podcasts.

The partnership coincides with 'My Favorite Murder's' 9th anniversary, a show that has achieved approximately two billion lifetime downloads and whose hosts have sold out over 100 live shows globally. The agreement includes the co-production of new shows, leveraging ERM's new audio and video studio opened in May 2024.

The deal encompasses popular shows like 'Buried Bones,' 'Ghosted! by Roz Hernandez,' and 'This Podcast Will Kill You.' 'My Favorite Murder' has received multiple industry recognitions, including the iHeartPodcast Awards' Audio Pioneer Icon Award and a Silver Spotify Creator Milestone Award.

Positive

• Partnership with leading podcast 'My Favorite Murder' with 2 billion lifetime downloads
• Exclusive rights for sales, marketing, and distribution of 14 ERM shows
• Access to ERM's new audio and video production studio for content creation
• Expansion of content portfolio through new show co-production agreement

Negative

• None.

Insights

Media Industry Analyst

This strategic partnership marks a significant expansion for iHeartMedia (IHRT) in the premium podcasting space, particularly noteworthy given the company's current market challenges and debt obligations. The acquisition of Exactly Right Media's content portfolio, anchored by the phenomenally successful 'My Favorite Murder' with its 2 billion lifetime downloads, represents a substantial opportunity for revenue enhancement.

The deal's structure is particularly shrewd from a financial perspective. By securing exclusive rights to sales, marketing and distribution rather than an outright acquisition, iHeart minimizes upfront capital requirements while gaining immediate access to a proven revenue-generating content library. The timing aligns with the broader industry trend toward podcast monetization optimization, as CPM rates for premium content continue to outperform traditional radio advertising.

The partnership's strategic value extends beyond immediate revenue potential. Key advantages include:

• Enhanced advertising inventory in the premium true crime category, which commands higher CPM rates
• Cross-platform synergy opportunities across iHeart's existing podcast network
• Access to ERM's new audio and video studio facilities, reducing production cost overhead
• Potential for international market expansion, leveraging iHeart's global distribution capabilities

However, the deal's success will largely depend on iHeart's ability to effectively monetize this content while managing its existing debt obligations. The company's expertise in advertising sales and digital distribution infrastructure positions it well to maximize the revenue potential of ERM's engaged listener base, potentially providing a meaningful boost to the bottom line in the medium term.

The deal will expand iHeartMedia’s podcast network with exclusive co-production, sales representation, marketing and distribution of 14 ERM shows as well as a roster of new podcasts

NEW YORK--(BUSINESS WIRE)-- iHeartMedia, the No. 1 podcast publisher globally according to Podtrac, today announced a partnership agreement with Exactly Right Media (ERM), the audio production company co-founded by “My Favorite Murder” creators Georgia Hardstark and Karen Kilgariff. The agreement makes iHeartMedia the exclusive sales, marketing and distribution partner for Exactly Right Media’s full slate of premium podcasts including the flagship show and fan favorite “My Favorite Murder,” as well as “Buried Bones,” “Ghosted! by Roz Hernandez,” “This Podcast Will Kill You” and more.

My Favorite Murder podcast logo (Graphic: Business Wire)

This partnership comes on the heels of the 9th anniversary of “My Favorite Murder,” a milestone that marks nearly a decade of global success for the show. “My Favorite Murder” has approximately two billion lifetime downloads, and hosts Georgia Hardstark and Karen Kilgariff have sold out more than 100 live shows around the world. “My Favorite Murder” has gone on to win several industry recognitions including as an iHeartPodcast Awards recipient of the Audio Pioneer Icon Award, a Silver Spotify Creator Milestone Award and Webby People's Voice Winner in Podcasts: Best Co-Hosts – showing that Exactly Right Media has built an unwavering community of listeners.

“We couldn’t be more excited to partner with Exactly Right Media, especially as we celebrate the incredible success of ‘My Favorite Murder’ on its 9th anniversary,” said Will Pearson, President of iHeartPodcasts. “Exactly Right’s bold approach to storytelling and their passionate, engaged listener base make them an exceptional partner for us. We’re proud to have their existing shows joining our family and can’t wait to create new podcasts with them.”

In addition to sales, marketing and distribution of ERM’s 14 current shows, the deal will include the creation and co-production of new shows, further expanding the breadth of content available to millions of podcast listeners worldwide. These new shows will leverage Exactly Right Media’s world-class production capabilities powered by their new audio and video studio, which opened in May 2024.

“We’re thrilled to join forces with iHeartMedia to amplify our shows and reach even more listeners,” said Karen Kilgariff and Georgia Hardstark, co-founders of Exactly Right Media. “The 9th anniversary of ‘My Favorite Murder’ is the perfect time to join forces with iHeartMedia. We’re looking forward to working together to create even more compelling, thought-provoking content.”

For a full list of shows visit exactlyrightmedia.com.

About My Favorite Murder
My Favorite Murder is a true crime comedy podcast hosted by Karen Kilgariff and Georgia Hardstark. Each week, Karen and Georgia share compelling true crimes and hometown stories from friends and listeners. Since its inception in January 2016, the show has broken global download records and sparked an enthusiastic and dedicated community of listeners.

Visit MyFavoriteMurder.com for more information.

About Exactly Right Media
Founded in 2018, the Exactly Right podcast network provides a platform for bold, creative voices to bring to life provocative, entertaining and relatable stories for audiences everywhere. Created by Karen Kilgariff and Georgia Hardstark, hosts of the hit podcast My Favorite Murder, the Exactly Right roster of podcasts covers a variety of topics and voices, serving the highly engaged listenership of My Favorite Murder and beyond. Visit ExactlyRightMedia.com for more company information.

About iHeartMedia, Inc.
iHeartMedia, Inc. [Nasdaq: IHRT] is the leading audio media company in America, with 90% of Americans listening to iHeart broadcast radio in every month. iHeart’s broadcast radio assets alone have a larger audience in the U.S. than any other media outlet; twice the size of the next largest broadcast radio company; and over four times the ad-enabled audience of the largest digital only audio service. iHeart is the largest podcast publisher according to Podtrac, with more downloads than the next two podcast publishers combined, has the most recognizable live events across all genres of music, has the number one social footprint among audio players, with seven times more followers than the next audio media brand, and is the only fully integrated audio ad tech solution across broadcast, streaming and podcasts. The company continues to leverage its strong audience connection and unparalleled consumer reach to build new platforms, products and services. Visit iHeartMedia.com for more company information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250205676107/en/

Jenn Powers, JennPowers@iheartmedia.com

Exactly Right Media, press@exactlyrightmedia.com

Source: iHeartMedia, Inc.

FAQ

What is the significance of iHeartMedia's partnership with Exactly Right Media for IHRT stock?

The partnership gives IHRT exclusive rights to monetize and distribute ERM's 14 premium podcasts, including the highly successful 'My Favorite Murder' with 2 billion downloads, potentially increasing revenue streams and market share in the podcast industry.

How many shows are included in the 2024 iHeartMedia-Exactly Right Media deal?

The partnership includes 14 current ERM shows and provides for the co-production of new shows, expanding IHRT's podcast content portfolio.

What is the download count for My Favorite Murder podcast under IHRT's new partnership?

My Favorite Murder has accumulated approximately two billion lifetime downloads and has sold out more than 100 live shows worldwide.

When did Exactly Right Media's new production studio open under the IHRT partnership?

Exactly Right Media's new audio and video studio opened in May 2024, which will be utilized for content production under the iHeartMedia partnership.