Dear Media Podcast Network Lands $8 Million Investment for New IP, Brand Building

The Skinny Confidential: Him & Her, has raised $8 million in Series A funding from Magnet Companies, it announced Thursday. With more than 40 shows already launched and over 150 million episode downloads to date, the funding will be used to grow Dear Media's talent slate and create original IP. The Hollywood Reporter

that the investment will also serve as a branding launching pad for the network's influencer-heavy roster, with "live events, tours, if they want to start their own brands — some of this money will be used to basically incubate and invest in early stage startups and consumer goods for a lot of these properties and then push them through the Dear Media channel."in May 2019 and "has a great YouTube channel, a great blog, a great social presence, now a podcast.

A growing slate also looks to continue an emphasis on female-fronted shows, which Bosstick says were in short supply when he and Raina Penchansky of influencer management company Digital Brand Architects started the network in 2018.

With such a large investment coming at a time of economic uncertainty amidst the coronavirus pandemic, Bosstick says he secured the commitment before the shutdown after having conversations since August, and has not seen a downturn in long-term brand deals, as most have stayed in place and some brands have turned to podcasts after lost opportunities in the retail and live entertainment spaces. The pandemic has not slowed the podcast turnout, either.

"This is really Dear Media's bread and butter — a lot of the hosts that we work with, they had started shows out of their kitchens, out of their offices, out of their living rooms, and they've been doing very current, on-the-spot podcasts with very limited support and equipment," he says.

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