Yes, there’s money in podcasts but there’s more in movies

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The main difference between when Matt Lieber cofounded Gimlet Media three years ago and now? Now, there’s actually a business model.

He’s not joking.

“When we firstly started[ Gimlet ], the company was an idea, ” Lieber announced. “When we heightened a Line A, the company was a halfway-working business prototype, and now that busines in a Sequence B has a manipulating business model.”

On Wednesday Gimlet Media announced its second major round of investment a $15 million Series B from groupings of investors including Strips Group and Emerson Collective, the organization led by Laurene Powell Jobs( who lately bought majority decisions stake in The Atlantic ).

In simply a few years, Gimlet has put together a lineup of podcasts including “Reply All, ” “Homecoming, ” and “Crimetown” that rivals the gives of incumbents like NPR and Slate.

Gimlet’s rise reflects the broader raise of the podcast marketplace in the past few years from a few cases big names to a rich( and impressively diverse) environment of podcasters.

The thing that changed is advertising.

“The medium is maturing and part of that is being discovered by new advertisers, part of that is giving advertisers the different levels of solace they get through analytics that our audiences are very and measured and we’re delivering a very reliable and safe commodity, ” Lieber said.

However, that’s not necessarily what makes in major investors with millions of dollars. Podcasts are good, sure, but movies and Tv are better. That’s why Gimlet’s previously got a few large-scale assignments in the pipeline, including “Alex, Inc.” performing Zach Braff. It’s an ABC series based on the experiences of Gimlet cofounder Alex Blumberg with his podcast “StartUp, ” which helped launch Gimlet.

The idea is to have Gimlet’s podcasts serve as a highway of picking stories that could succeed as big projections. For lesson, “Man of the People, ” starring Robert Downey Jr ., and directed by Richard Linklater, is located off a “Reply All” episode about a medical doctor that scammed his nature to fame. “Homecoming, ” based on Gimlet’s firstly fictional podcast, will star Julia Roberts.

Those big names have helped situate Gimlet on the delineate, a major step for the company as it grows.

“It’s hard to separate our success in Tv and movies from our success in “the worlds”, because one of the things that happens when you make a picture with a stature of expertise … it creates a level of awareness and it precisely builds Gimlet’s profile in the world, ” Lieber answered. “So I think it is a meaningful part of the business, but it’s likewise about constructing the Gimlet brand.”

Read more: http :// 2017/08/ 02/ gimlet-media-fundraising-podcast-movies /

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