Canadian podcast producerPacific Content, whose clients include Ford, Amazon and Meta, has been sold to UK-based competitor Lower Street for an undisclosed amount.
Founded by Harry Morton in 2017, Lower Street is a bootstrapped full-service podcast production agency with an equally impressive client list, including brands like PepsiCo, Hewlett Packard Enterprise and Booking.com.
This acquisition now sets the stage for Lower Street to become the world’s leading branded podcast agency. In a 2023 study by Sounds Profitable, over 40% of Americans 18+ said they would be likely to listen to a podcast about a favorite brand, underscoring the significant potential in an advertising marketplace projected to surpass $4bn in revenue by the end of 2024.
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Harry Morton, founder of Lower Street explains: “When I founded Lower Street, I looked up to one company in particular, Pacific Content. Their podcasts were legendary – super-creative, expertly produced and showed a real understanding of how to cultivate and grow passionate audiences. They really pushed the branded content space forward and became a benchmark of quality for me.
“To be able to now buy such an amazing brand as Pacific Content is a real testament to the hard work, talent and passion I see at Lower Street every day. It will most certainly help supercharge our growth as we move into the next phase of our development and that of the branded podcast industry overall.”
Pacific Content’s Founder Steve Pratt adds: “Harry is one of my favorite leaders in the podcast industry. I’m consistently impressed with how thoughtful he is about building the Lower Street culture and team, and how generous he is in publicly sharing his thinking and strategy with the marketing and podcast industries. I am very grateful that Harry and his team are building an exciting new chapter in the Pacific Content story and I can’t wait to see where they take it next.”
Lower Street is on a mission to produce the best podcasts on the internet, believing the future of content marketing is binge-worthy episodic shows that empower brands to build intimate relationships with their key audiences over time.
A number of Pacific Content employees will be joining Lower Street over the coming weeks.
SOURCE: Marketingdive