The New York Times Doubles Down on Podcasts With "Serial" Acquisition
Podcasts have taken the media industry by storm. A recent study by Infinite Dial indicated that the podcast industry is growing at a rapid rate with over 100 million Americans having listened to a podcast in the last month.
With kind of fan base, it should come as no surprise that media companies such as Spotify (NYSE: SPOT) and The New York Times (NYSE: NYT) are investing in this space to have a presence where listeners are increasingly getting their news and entertainment.
The New York Times is a media powerhouse most known for its iconic newspaper. The company has come a long way since the early newspaper days, however, and now primarily delivers its news and entertainment content digitally. As digital products continue to evolve in society, the publisher aims to adapt with the times to keep subscribers and advertisers in its ecosystem.
Source Fool.com
