*By Bridgette Webb* Public Radio Exchange (PRX) and Public Radio International (PRI) are joining forces in a bid to capitalize on the booming popularity of podcasts. The radio producers are two of the four national distributors of programming for public radio stations in the United States, and the first among their peers to merge. PRX's chief executive, Kerri Hoffman, said there's a real synergy between the two companies. "Think of PRX and PRI as siblings born a generation apart," Hoffman said Friday in an interview on Cheddar. "There are some things, at our core, at both organizations that we can strengthen. And the things that are differentiators are really where the opportunity is." The merger may have arrived just in time, with listeners slowly tuning out traditional broadcasts in favor of on-demand and streaming options. The number of people listening to podcasts has more than doubled over the past five years and is expected to hit roughly 73 million listeners this year, according to [Edison Research](http://www.edisonresearch.com/podcast-consumer-2018/). That growth has been buoyed by podcasts' ability to showcase diverse and compelling content ー with voices that were traditionally neglected by mainstream radio. Hoffman said it's a trend she hopes will continue. "The barriers to entry is so much lower, but that is just part of they story," she said. "The thing that we learned over many years is that we need a whole suite of services that help people get successful." According to PRX, the combined organization will reach more than 28.5 million listeners a month through 885 stations’ broadcast signals and websites. The companies are projecting $38 million in revenue in the first year after the merger. Hoffman sees some roadblocks ahead, specifically, the proposal by [Republican lawmakers](http://www.latimes.com/entertainment/tv/la-et-st-pbs-cpb-npr-trump-budget-cuts-20170316-story.html ) to reduce funding for the Corporation for Public Broadcasting. Still, she thinks public media is here to say ー largely because of listener and viewer support. " It's always a threat, but we really believe the American public has demonstrated over and over again that there is a strong and important place for non-commercial media in a Democratic society." For more on this story, [click here](https://cheddar.com/videos/public-radio-platforms-merge-to-create-podcast-powerhouse).

Share:
More In Technology
EdTech Platform Multiverse Raises $220M to Expand Professional Apprenticeships
Tech apprenticeship platform Multiverse became a unicorn with a $1.7 billion valuation, after raising $220 million in a Series D round. As companies across the country face challenges in hiring and retaining tech talent, Multiverse says it's trying to offer a solution with a new way to train and hire workers that can serve as an alternative to college and corporate training. Sophie Ruddock, VP and GM North America of Multiverse, joins Cheddar News' Closing Bell to discuss.
Crypto Collapses Are an Ecosystem 'Stress Test,' Says Bitwise CIO
Bitcoin's price has fallen below $24,000, its lowest level since December 2020. Matt Hougan, CIO at Bitwise Asset Management, joined Cheddar News to discuss the future of crypto amid the latest high-profile point of concern, the halting of withdrawals at Celsius Network. "Last month we saw Luna collapse. This month we're seeing Celsius possibly collapsing," he said. "So this stress test is finding weaknesses in the crypto ecosystem and it will continue until we get to a strong foundation from which crypto can recover."
U.S. Stocks Close at Session Lows
U.S. stocks closed Thursday at their lowest levels of the trading day, as investors continue to eye inflation ahead of the May CPI report out Friday. Art Hogan, Chief Market Strategist for National Holdings, joins Cheddar News' Closing Bell to discuss.
Load More