Stingray acquires 30% stake in The Podcast Exchange

MONTREAL — Music service provider and broadcaster Stingray announced Friday it has acquired a 30% interest in The Podcast Exchange (TPX), the Toronto-based podcast enterprise co-founded by Jean-Marie Heimrath and Jeff Ulster. In the news release, Stingray says TPX is “the Canadian leader in podcast advertising representing thousands of shows with over 70 million impressions per month across multiple genres and networks.” The release goes on to say “TPX’s ‘network’ approach to podcasting is not contingent on a one or two-hits model to drive ad revenue but rather offers important potential for return through scale and flexibility.” Stingray says the...