Cineverse Hires Industry Veterans Laura Schumer and Ben Cabonargi to Lead Direct Ad Sales for Rapidly Growing Podcast Network
Rhea-AI Summary
Cineverse (NASDAQ: CNVS) has appointed Laura Schumer and Ben Cabonargi as Directors of Podcast Sales to lead their direct ad sales team for the Cineverse Podcast Network. The new hires bring over four decades of combined experience from major media companies including SiriusXM, Pandora, Stitcher, and Turner Broadcasting.
Schumer, previously a Sales Executive at Pandora/SiriusXM for nine years, and Cabonargi, former Director of Revenue Partnerships at SiriusXM, will manage advertising sales for Cineverse's portfolio of more than 35 audio series with over 75 million downloads. Both will report to Terry City, SVP of Direct Advertising Sales.
The company's podcast division has shown strong growth, with podcast and related revenues increasing 39% year-over-year in the most recent quarter. The network recently expanded its content offering by adding shows like Creepy Places: A True Crime Podcast, RetroCrush, and Midnight Pulp, while also partnering with The Stand Group to launch WITZ Podcast Network for comedy programming.
Positive
- Podcast and related revenues grew 39% year-over-year
- Network expansion with new popular shows and comedy programming partnership
- Strategic hiring of experienced executives from major media companies
- Strong podcast network reach with 75 million downloads across 35+ series
Negative
- None.
New Team Brings Four Decades of Experience from SiriusXM, Pandora, Stitcher and Turner Broadcasting
Schumer and Cabonargi's appointments are effective immediately, and they will report to Terry City, Senior Vice President, Direct Advertising Sales.
Prior to joining Cineverse, Schumer served as Sales Executive at Pandora/SiriusXM for nine years. There, she sold advertising revenue for satellite, streaming and podcast and was a top producer of podcast revenue for SiriusXM Media, working with various clients, agencies and Fortune 500 companies. Schumer began her career in advertising sales for Turner Broadcasting (now Warner Bros. Discovery), where she worked for seven years.
A seasoned digital audio leader, Cabonargi held several prominent roles before joining Cineverse, including as Director of Revenue Partnerships at SiriusXM, Vice President of Podcast Advertising Partnerships at Stitcher/Midroll Media and Vice President of Sales at TargetSpot. In these positions, he drove growth, omnichannel monetization and strategic partnerships that have helped shape the digital audio and podcasting landscape. Cabonargi has played a pivotal role throughout his career in connecting content creators to brands across podcasting, video, social media and branded content.
"Our rapid podcast expansion in the past year has contributed to significant ad sales growth and the need for an expanded direct sales team that specializes in podcasts and can complement our programmatic revenue," said Terry City, Senior Vice President, Direct Advertising Sales. "We are confident that Laura and Ben have the right experience, passion and leadership qualities to spearhead those efforts and continue our upward trajectory as a top-10 podcast network."
Home to fan-favorite entertainment, true crime and horror podcasts, the Cineverse Podcast Network recently added popular shows Creepy Places: A True Crime Podcast, RetroCrush and Midnight Pulp to its catalog, and partnered with The Stand Group to launch WITZ Podcast Network and expand into comedy programming. In the most recently reported quarter, podcast and related revenues were up
About Cineverse Podcast Network
Cineverse operates a top-10 podcast network with more than 35 audio series. It leverages owned-and-operated brands like Bloody Disgusting, Midnight Pulp and RetroCrush to deliver hit shows in horror, true crime and entertainment. A growing division of the Company, the Cineverse Podcast Network generates advertising revenue from brands across key categories, including movie studios, retailers and consumer products. In its most recently reported quarter, Cineverse podcast and related revenue was up
About Cineverse
Cineverse (Nasdaq: CNVS) is a next-generation entertainment studio that empowers creators and entertains fans with a wide breadth of content through the power of technology. It has developed a new blueprint for delivering entertainment experiences to passionate audiences and results for its partners with unprecedented efficiency, and distributes more than 71,000 premium films, series, and podcasts. Cineverse connects fans with bold, authentic, independent stories. Properties include the highest-grossing non-rated film in
CONTACTS
For Media, The Lippin Group for Cineverse
cineverse@lippingroup.com
For Investors, Julie Milstead
investorrelations@cineverse.com
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SOURCE Cineverse Corp.
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