Audio Meets Video As Spkr Is Acquired By Loop Media, Andy Schuon Takes New Role.
Spkr, the audio platform that’s focused on podcasts and other short-form content, has been acquired by the streaming video company Loop Media. Spkr was co-founded last year by Andy Schuon, a former programming executive at CBS Radio and MTV. As part of the rollup, Schuon will assume the newly created role of Head of Loop Media Studios and will be responsible for all content and programming creation and acquisitions.
“With the acquisition of Spkr and the formation of our Loop Media Studios, we are setting the foundation for strong content expansion that will help our B2B and D2C platforms scale even more efficiently and aggressively,” said Loop Media co-founder and CEO Jon Niermann. The value of the all-stock deal was $3 million, according to a filing with the Securities and Exchange Commission.
Loop Media offers a library of short-form video content to subscribers, offering up a growing library of over 500,000 short-form clips, including music videos, film, game and TV trailers, viral videos and sports clips. The move allows Loop Media to expand its content offerings into audio with podcasts and other curated content. Spkr offers audio programming organized into different channels, including News & Politics, Self-Improvement, True Crime and Pop Culture. The Spkr app includes “My Spkr,” a personalized audio feed built from a listener’s chosen content, and “Spkr Live,” a continuously updating playlist.
“Spkr brings a defining audio platform in podcast presentation to the portfolio of video channel brands and apps already at Loop,” said Schuon. “There’s a paradox of great content, where too much choice in music, podcasts and content overall leads to confusion and disarray. At Loop Media Studios we will be charged with bringing order to that chaos through trusted brands underpinned by great creative, curation, editorial and execution.”
Schuon is an executive that has long had a foot in both audio and video. He is the former head of programming at alt-rock stalwart KROQ-FM, Los Angeles (106.7) and President of Programming at CBS Radio. He has also overseen programming at MTV and VH-1. Schuon is also the co-founder of the cable and online network Revolt TV with Sean “Diddy” Combs.
Spkr’s other co-founders include TV industry veteran Michael Jenson, who has served as the company’s Chief Operating Officer, and Sandy Girard, a former SiriusXM VP of Programming of Talk & Entertainment.
Investors like the idea of Loop Media moving into audio. Shares of publicly-held Loop TV rose 5% Monday during trading in New York.