Fox’s Red Seat Ventures Buys Podcast Creator Subscription Platform Supercast

Fox Corporation’s Red Seat Ventures has acquired the podcast creator subscription platform Supercast for an undisclosed amount.

The move will expand the division’s creator-focused digital services portfolio, offering a single partner for advertising and subscription monetization and unifying the two primary revenue streams for podcast businesses.

Supercast, which was founded in 2019, will continue to operate autonomously under its founder and CEO Jason Sew Hoy and plans to accelerate investment in product development, creator growth and team expansion with support from Red Seat Ventures. The platform’s top 10 podcasters gross more than $26 million per year in subscription revenue.

“From the very first conversation with Chris Balfe at Red Seat Ventures and Paul
Cheesbrough at Tubi Media Group, it was clear that we shared the same worldview: that creators can own their audience, control their brand and build significant, sustainable media businesses on their own terms,” Sew Hoy said in a statement. “We’re excited to accelerate investment in the Supercast platform
and bring even more opportunities to our creators and partners by leveraging the power of Red Seat Ventures, Tubi Media Group and FOX.”

“Jason and his team share our mission of empowering influential voices by offering meaningful opportunities to monetize their content and expand audience reach,” RedSeat Ventures founder and CEO Chris Balfe added. “The rapid growth of direct-to-fan subscriptions has proven the value of recurring creator revenue, and this acquisition accelerates our strategy to provide a one-stop shop that helps creators grow their audience and monetize across channels.”

Fox’s latest move in the podcasting space comes after the media giant acquired Red Seat Ventures in 2019.

In addition to the Red Seat Ventures and Supercast acquisitions, Fox and Tubi reached a multi-year distribution deal with Audiochuck for its library of podcasts — including “Crime Junkie,” “The Deck,” “So Supernatural,” “Dark Downeast” and “Park Predators.”

Additionally, Fox has jumped into the vertical video space with a stake in the microdrama platform Holywater.

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