Satellite radio giant SiriusXM will shut down its Stitcher podcast app and subscription service, amid a broader retreat for the once white-hot sector.
The company on Tuesday said that it would end the service on Aug. 29 in an effort to drive more users to its own app and put all its content in one place. The podcasts Stitcher provided will remain available on other platforms and on the SiriusXM app.
“The scale and reach of our widely distributed podcasts has been and remains a crucial accelerant for our advertising sales business, while incorporating podcasts more holistically into our flagship SiriusXM subscription service will help to drive further growth,” SiriusXM executives Joe Inzerillo, John Trimble and Scott Greenstein wrote in an internal memo.
Stitcher said on its website that it would still operate its Stitcher Studios and Earwolf networks to make podcasts. There are no layoffs expected, according to a person familiar with the matter who declined to be named.Stitcher’s subscription service cost $4.99 a month. Its app and website had a combined 900,000 unique visitors, according to Comscore., one of the largest podcast deals at a time when the industry was on the rise.
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