*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
Amazon Strong Growth Attributed to the Cloud Despite Retail Headwinds
While it was a volatile week in tech as Meta experienced the biggest one-day drop in the history of the U.S. stock market, industry giant Amazon reported 40 percent growth — largely on the strength of the cloud. Dan Ives, managing director of equity research at Wedbush Securities, joined Cheddar News to break down how the e-commerce company stock managed to pop despite headwinds against its core retail business. "It's all about cloud because of sum of the parts, you could argue, amazon could be $3,500/$4,000 stock just based on cloud," he said. Ives also addressed the apparent the differing impact of Apple iOS changes on Facebook and Snapchat.
Investors May Be Wary of Ford Due to Ongoing Supply Chain Issues
Following Ford's earnings miss, the stock price dropped despite a bullish outlook from the auto giant. Karl Brauer, an executive analyst with ISeeCars.com, joined Cheddar to break down why investors may not be sold on the carmaker because of the ongoing factor of supply constraints. "The product is not an issue. There's really good product coming from them, including the electric vehicle side, and the demand is not an issue. There's plenty of demand, but nobody really has a solid grasp on when we're going to get past the supply chain issue," said Brauer.
Pinterest Reports Strong Q4 Earnings Beat
Image-sharing app Pinterest reported big beats on its Q4 earnings for the top and bottom lines. The social platform surprised investors after seeing a decline in users while earnings and revenue were much higher than expected.
Load More