Acquisition Demonstrates iHeartMedia’s Continued Investment in the Audio Technology Space
NEW YORK, NY – February 26, 2019 – iHeartMedia today announced it acquired Athens, Greece-based online audio technology company Radiojar Information Technology S.A. (“Radiojar”.) Radiojar is a centralized, cloud-based audio playout platform, and this acquisition will allow the industry to leverage Radiojar’s tools to cohesively combine the seamless elements of broadcast radio and transition these skillfully-produced listening experiences into other audio platforms including music streaming and podcasts, delivering high quality audio experiences more effectively and efficiently. The company was purchased by iHeartMedia, Inc. subsidiary RCS – which is the world’s leading provider of broadcast and webcast software, serving more than 14,000 broadcast, digital, TV, cable and satellite music companies worldwide.
With Radiojar’s sophisticated cloud-based assets and engineering, iHeartMedia, and other RCS clients, will now have a platform to easily combine or parse individual audio elements such as DJ voice tracks, music and broadcast spots to create, manage, distribute and monetize streams, podcasts and other audio content in real-time from anywhere.
As part of the acquisition, Radiojar will also continue to provide tools that allow independent podcasters, radio stations and individuals to instantly create their own radio stations and broadcast from anywhere in the world.
“Because we lead in all audio categories and understand the entire landscape, from broadcast radio to streaming radio to podcasts, we are always looking for next-generation technologies and services that can complement the overall audio ecosystem,” said Rich Bressler, President, COO and CFO for iHeartMedia, Inc. “We recognize that broadcast radio has a very unique set of programming tools that make listening a smoother and more enjoyable experience. These new capabilities will allow for the seamless nature that has only been available on radio to transition to other audio mediums including digital stations and podcasts.”
As the leading audio company in the U.S., this acquisition is the latest in iHeartMedia’s continued commitment in innovation across all areas of audio. The company also recently acquired Jelli, Inc., the pioneering technology company for programmatic buying and selling of broadcast radio and the technology platform that powers its groundbreaking SoundPoint programmatic platform; and Stuff Media LLC which included the HowStuffWorks (HSW) podcasting business – which solidified iHeartMedia as the Number 1 commercial podcast publisher globally and Number 2 overall, right behind NPR (Podtrac.)
“Complementing our recent announcements about our cloud-based scheduling, playout and disaster recovery services, this acquisition will help RCS bring an even wider range of sophisticated online broadcast tools to our customers,” said Philippe Generali, President and CEO, RCS. “In the near future, using cloud-based technology, it will be possible to launch a brand-new radio service across broadcast and digital within minutes of the original idea. The ultimate ‘pop-up’ radio station, if you will.”
“The Radiojar team is excited to be joining forces with the largest audio company in America – iHeartMedia, as well as RCS – a company known around the world for its audio software innovation.” said Stathis Koutsogeorgos, CEO of Radiojar. “We share a vision about the importance of cloud-based technologies, and we look forward to the opportunity to evolve and offer our products and services to an even wider audience."
RCS is the World’s Largest Broadcast Software Company with products in more than 14,500 radio stations, TV music channels, cable companies, satellite music networks and internet stations worldwide. With more than 800 professionals working from 23 offices around the globe, RCS is everywhere.
Radiojar was launched in 2013 with the vision of empowering radio stations the ability to extend into the cloud era, a vision backed by PJ Tech Catalyst Fund, an Athens, Greece-based seed stage venture capitalist, in which European Investment Fund and Piraeus Bank participate via the “Jeremie" Program to support Greece-based entrepreneurs. Radiojar using audio computing and distributed architecture, offers cloud-first solutions with infinite scalability and focuses on two major technology fields – cloud play-out and digital audio delivery. As a technology provider, Radiojar, with a team of exceptional engineering skills, addresses challenges and delivers solutions for traditional FM/AM, media groups, web only radio stations, music providers, in-store music solutions and service providers around audio.