American Public Media confirmed that its multi-year partnership with the cash-strapped company will conclude a year early.
American Public Media and Audacy’s Cadence13 will exit a multiyear advertising partnership at the end of August — roughly a year before its intended end date,has learned from APM. Neither company has disclosed the exact reasons for the contract’s termination or its timing, though APM cited “changing market dynamics” and Audacy referred to the deal as “onerous.” The public radio broadcaster will take ad sales and brand partnerships for its podcasts in-house as a result.
“Given the changing market dynamics, APMG, Audacy and Cadence13 have mutually decided to end their partnership, effective August 31st, 2023. Moving forward, APMG will conduct all sales and brand partnerships of our award-winning slate of podcasts and branded content, as well as manage ad sales for all podcast inventory. We have planned for this operational shift to ensure a seamless transition for our audiences and underwriters.
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