After securing a group of outside digital investors, The Locked On Podcast Network announced its first ever round of fundraising. Former Disney Interactive Media Group CFO Bruce Gordon, Podfund and Utah-based Summit Capital contributed $750,000 to the three-year old Locked On Network.
Funds will be used to implement aggressive growth plans, continuing to produce quality podcasts and expand the Salt Lake City-based company’s sales team.
“What makes this investment particularly interesting is the way the company brings elements of local media, local and national advertising and digital media together in the burgeoning podcast medium,” Gordon said in the press release regarding his investment. “Locked On has carved out a valuable and sizable segment targeting local sports passion with short, daily podcasts at a time when the industry was looking in other directions. From here, they now have multiple opportunities for growth.”
The Locked On Podcast Network was launched in 2016 by one of the industry’s pioneers and Utah Jazz radio voice, David Locke. In the last three and a half years, Locke has helped oversee the company grow into a network of 140 daily podcasts, focused on the NBA, NFL, MLB, NHL and college sports.
For the month of October, Locked On reported nearly 8 million podcast listens, up 33% month over month and 113% year to date. The approximately 600 weekly podcast episodes are kept short, running between 22-30 minutes each.
Brandon Contes is a freelance writer for BSM. He can be found on Twitter @BrandonContes. To reach him by email click here.