Podcast production and distribution company utilizes a flexible, revenue-based funding package to support growth and expansion without any dilution
LOS ANGELES, Feb. 20, 2024 /PRNewswire-PRWeb/ -- Blue Wire, a media production and distribution company that allows independent podcasters to monetize their content, has landed a growth funding package from Decathlon Capital Partners to support its expansion.
Headquartered in Los Angeles, California, Blue Wire will use the capital to support its platform growth, add new content offerings, and build a technology dashboard for podcasters. Details of the revenue-based investment package were not disclosed.
With more than 300 podcasts and 11 million monthly downloads in its network, Blue Wire is building a sports media powerhouse that allows fans to skip traditional media offerings and head to podcasts to learn more about their favorite teams or sports.
Kevin Jones, Chief Executive Officer and Founder of Blue Wire, has used the values of authenticity and hustle to build Blue Wire's strong community of podcasters and listeners. "Consumption habits are shifting and we've been able to consistently identify new voices in sports who resonate with their audiences," said Jones. "Podcasting continues to disrupt traditional media and we look forward to partnering with Decathlon to fuel our ambitions."
Joseph R. Saviano, Chief Financial Officer of Blue Wire, said Blue Wire has successfully transitioned its business to profitability, which enabled the company to raise non-dilutive capital without giving up any control of the company. "The flexibility of this funding allowed us to convert noteholders into equityholders and to expand our offerings, which demonstrates the many reasons we are excited to be working with Decathlon Capital Partners," Saviano says.
John Borchers, Managing Director of Decathlon Capital Partners, said Blue Wire's commitment to investing in emerging social media talents, while also helping established pro athletes build their podcast brands is what sets Blue Wire apart. "Blue Wire is bringing something new to the podcasting world, and Decathlon is proud to support what is sure to be tremendous growth," Borchers said.
About Blue Wire
Blue Wire is a sports and entertainment podcasting network bringing together the next generation of journalists, influencers, athletes, and fans. Blue Wire works with both pro athletes and emerging social media talent. The company aims to maintain each of its network hosts' financial and creative independence, while fostering a community of support by helping the hosts find sponsors. Blue Wire is proud to be home to shows including It Is What It Is with Cam'ron & Mase, Green Light with Chris Long, Stay Hot, and Road Trippin, as well as regional hits such as Bronx Pinstripes, Light Years and Pack-A-Day. Learn more at https://www.bluewirepods.com/.
About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at http://www.decathloncapital.com.
Media Contact
Blue Wire Press, Blue Wire, 4352001051, [email protected], https://www.bluewirepods.com/
SOURCE Blue Wire
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