Stitcher, a 15-year-old app that helped put podcasts on the map, is shutting down, the corporate stated Tuesday. It is the newest casualty of an financial downturn that has swept the expertise and leisure sectors, together with the podcasting enterprise.
“The Stitcher app and web site will discontinue operations on August 29, 2023,” the corporate tweeted.
Mother or father firm SiriusXM stated it might proceed to supply Stitcher’s content material. “Subscribers can take heed to podcasts inside the SiriusXM app and can see an all-new listening expertise later this yr,” it stated.
The app, which as soon as referred to as itself the No. 1 podcast app within the U.S., had greater than 14 tens of millions customers at its peak, based on TechCrunch. SiriuxXM, which purchased Stitcher in 2002 for $325 million, is closing the app to be able to incorporate podcasts “into its flagship SiriusXM subscription enterprise,” the corporate stated on its web site.
The favored podcast app is the newest tech participant wrestle because the economic system slows and media corporations shed jobs. Podcasts have not been immune. Main podcast studios Vox Media, Pushkin Studios and Spotify all introduced layoffs in January. This month, Spotify stated it might interact in a second spherical of layoffs in its podcast division. The streaming large additionally cancelled a dozen authentic podcasts and ended a high-profile podcasting take care of Prince Harry and Meghan that yielded just one podcast sequence.
In March, SiriusXM lower practically 500 jobs, or 8% of its workforce.
The promoting downturn can also be hitting information media. Earlier this yr, BuzzFeed Information and MTV News shut down and Vice Information filed for bankruptcy safety.
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