iHeartMedia surges on report Netflix, competing with YouTube, wants its video podcasts
Video podcasts are becoming a key part of Netflix’s efforts to keep pace closely behind YouTube in the streaming wars.
According to reporting by Bloomberg, the streamer is in talks to exclusively license video pods from iHeartMedia. Shares of IHRT surged on Tuesday morning.
Under the deal, iHeartMedia, which produces shows like “Las Culturistas,” “The Breakfast Club,” and “Jay Shetty Podcast,” would reportedly stop posting full episodes on YouTube — the site that more than a billion people use to watch podcasts every month.
Netflix made a similar deal with Spotify last month and will begin streaming 16 video podcasts produced by Spotify Studios early next year.
According to the Nielsen Gauge, YouTube pulled in 12.6% of all TV viewership in September, compared to 8.3% for Netflix.
Under the deal, iHeartMedia, which produces shows like “Las Culturistas,” “The Breakfast Club,” and “Jay Shetty Podcast,” would reportedly stop posting full episodes on YouTube — the site that more than a billion people use to watch podcasts every month.
Netflix made a similar deal with Spotify last month and will begin streaming 16 video podcasts produced by Spotify Studios early next year.
According to the Nielsen Gauge, YouTube pulled in 12.6% of all TV viewership in September, compared to 8.3% for Netflix.
