SoCast Announces Acquisition of Frankly's Radio Business

RADIO ONLINE | Wednesday, February 21, 2024

SoCast

Toronto-based SoCast, a provider of digital transformation for radio, has announced the acquisition of the AMP radio client business from competitor Frankly Media. The AMP product suite including its content management platform was developed by Triton Digital and sold to Frankly in 2019. Now, under ownership by SoCast, the AMP products and services will integrate into the SoCast ecosystem.

SoCast say an important element of this expansion is the introduction of the Rewards solution, a valuable addition to SoCast's integrated Promotions tool, offering broadcasters innovative ways to engage and monetize their audience.

SoCast CEO Elliott Hurst commented, "As on-air engagement and traditional advertising face challenges, our acquisition of Frankly's AMP radio clients signals a new beginning for radio broadcasters. SoCast is renewing its pledge to empower the radio industry, bringing innovation, and propelling our clients into a digital future."

As a result of this transaction, SoCast's radio client portfolio grows to encompass 250 broadcasters, spanning 2,000 radio stations and a community of 7,500 users in programming and sales. Additionally, SoCast is welcoming several large and notable broadcaster groups into its client portfolio including Cumulus Media. Plus, the addition of key client service personnel from Frankly Media ensures that service quality and continuity remain paramount for all former Frankly clients.

SoCast COO Sandy Hurst said, "A stronger SoCast means a stronger innovation partner for radio. As on-air listening and ad sales struggle, digital continues to skyrocket. SoCast is here to ensure radio not only competes but thrives in this new era."