Yahoo Finance Former Fox International Channels CEO Launches Fox-Backed Audio-On-Demand Network
Hernan Lopez, former President and CEO of Fox International Channels, has announced the launch of Wondery, an audio-on-demand network backed by Fox.
The news comes two days after Fox Networks Groupannounced the restructuring of its international TV business and that Lopez was stepping down to start a new venture.
Wondery will focus on creating and curating original, scripted and real-life programming. Fox will be investing in the venture, Lopez says.
“Wondery gives me the ability to combine many things I know and love — storytelling, network and brand building and technology — in the fastest-growing segment of on-demand consumption,” said Lopez. “Americans spend 3 1/2 hours a day with audio, and all that time is going in one direction: mobile, and on-demand. Podcast consumption has grown more than 40% in just two years and is about to reach a tipping point. This is the perfect timing to capture this opportunity, using some of the best practices that have transformed television over the last 10 years.”
Said Fox Networks Group Chairman and CEO Peter Rice, “Hernan has an exceptional understanding of the ways in which new technologies allow companies to build media brands on a global scale, and we look forward to his success with this new venture.”
Wondery also will be partnering with ART19, a San Francisco-based technology company that provides distribution infrastructure to podcasts, networks and media companies.
“The sheer numbers, the desirable demographics and the intimate environment in which advertisers can engage with audiences make it clear that there is a compelling business opportunity here,” Lopez added. “With the support of Fox and the relationships I have built over my 26 years in radio and television, I am confident that Wondery will be able to attract great storytellers and unrivaled consumer interest.”
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