Oxford Road and Veritone One are combining operations to create what they describe as the world’s largest podcast advertising agency, aiming to address challenges brands face in fragmented audio and creator-based marketing channels.

The merger, backed by Insignia Capital Group, brings together Oxford Road’s international presence with Veritone One’s technology stack and data capabilities. Both companies will initially continue independent operations, with plans for eventual integration under a unified brand.

“Brands have been missing out on the full power of audio and creator-led content because these highly fragmented channels are challenging for firms without deep subject matter expertise,” said Dan Granger, CEO of the newly combined organization in a press release.

The merged entity focuses on five key areas: performance metrics, market scale, channel coverage, brand safety innovation, and global reach. The company claims to possess the industry’s largest data set in audio and creator-based video advertising.

Conor Doyle, President of Veritone One, pointed to the potential for improved monetization across podcast, audio, and creator-based media channels. “Having a shared focus will deliver unparalleled leverage, knowledge, and results for our clients, which helps the industry monetize at greater rates,” stated Doyle.

The deal represents a strategic move in digital marketing, according to Tony Broglio, President and Partner at Insignia Capital Group. “We believe these two businesses are at the forefront of digital marketing’s next great evolution with the transformative growth of audio and creator-based advertising,” stated Broglio.

The companies will maintain their current operations while developing integration plans. Canaccord Genuity served as financial advisor and Cooley LLP as legal counsel to Veritone. Cascadia Capital acted as financial advisor to Insignia Capital and Oxford Road, with DLA Piper serving as legal counsel to Insignia Capital and Sheppard Mullin as legal counsel to Oxford Road.

The merged company plans to continue developing tools like Audiolytics™ and new metrics in Brand Safety, though specific timeline details for future developments have not been announced.

According to a recent Acast study, more than half of daily podcast listeners worldwide have made a purchase after hearing an advertisement in a podcast. Consumers are 10% more likely to listen to podcast ads than radio ads and 12% more likely to listen to streaming music ads.