Podcast platform Podimo has acquired Podads, a leading Danish podcast agency and advertising platform, in its third acquisition.

The acquisition creates new avenues for creators and businesses to increase earnings through multiple revenue streams and expand their audience. Podads will continue to operate independently under CEO and Co-Founder Anne-Kathrine Pommergaard.

“The market for podcast advertising is growing, but we see even greater commercial potential that goes hand in hand with the growth of Podimo’s subscription model,” says Morten Strunge, Podimo co-founder and CEO, in a news release.

Strunge adds that the acquisition will allow them to increase the efficiency of podcast advertising in Denmark and attract larger advertisers to the medium.

Pommergaard expresses excitement about joining Podimo, stating, “Together, we can create a unique platform and deliver even more quality content to Danish advertisers.”

Podimo plans to maintain its focus on its subscription-based business, offering exclusive, ad-free content to subscribers. This partnership follows Podimo’s expansion in the Netherlands with the acquisitions of Dutch production companies Dag en Nacht and Tonny Media.

To reinforce its hybrid subscription and ad-supported model, Podimo recently hired Whitney Rosenthal, the former Head of Creators at Instagram, as Director of Creator Platforms. The company also hired Ida Adler-Olsen as Head of Content Research.

A recent Acast study shows podcast ad consumption translates to actual purchases in over 50% of daily listener cases globally. Another report indicated that 60% of audio ad spend in Europe was allocated to podcasts last year.