Monday, March 1, 2021
Home Tech Podimo, the podcast and short form audio subscription service, picks up €11.2M...

Podimo, the podcast and short form audio subscription service, picks up €11.2M in new funding – TechCrunch

Podimo, the Copenhagen-founded subscription service for short form audio tales and podcasts, has raised an extra €11.2 million in funding.

The spherical is led by Chr. Augustinus funding fund, and comes simply 8 months after saying its €6 million Series A. Existing buyers, and the Spanish VC Aldea Opportunity Fund additionally participated.

Founded in 2019, Podimo is a podcast and short-form audio platform which provides personalised suggestions to listeners, whereas providing creators a share of income by way of premium subscriptions.

Premium members acquire entry to over 600 exhibits which might be unique to Podimo and membership charges are shared straight with the podcast creators they pay attention to every month. The service is presently dwell in Germany, Denmark and carious Spanish talking markets.

Co-founded by Morten Strunge, who has a observe report in subscription media merchandise by way of audio books service Mofibo (which he bought to Storytel), extra broadly, Podimo is hoping to capitalise on the rise in consumption in podcasts. The startup’s different founders are Nikolaj Koppel, Andreas Sachse and Sverre Dueholm.

“Our dream is to address two challenges in the developing podcast industry,” explains Strunge. “The first is discoverability, where we intelligently match listeners to the content they love. And the second is monetization, where we provide a new stream of revenue for creators, allowing them to focus on creating and invest into great storytelling”.

By providing a freemium mannequin, the place a paid model offers limitless listening and options, Strunge believes there is a chance to work carefully with podcast creators to strengthen the podcast ecosystem and make it much less reliant on promoting income.

“We want to become the preferred partner for creators, by both working closely with their content, curate and match it with each individual user, but also by offering a superior monetisation model,” he stated when Podimo introduced its Series A. The hope is {that a} extra strong income stream will allow new content material producers to enter the market and permit current ones to earn extra. In flip, that would supply the monetary headroom to speculate much more time and effort into prime quality content material.

“We have seen strong traction on our podcast and short form audio subscription service… and now more than 50% of our growth comes from our international markets,” Strunge tells me. “Our exclusive catalogue has grown to more than 600 exclusive productions, and our vision of building out revenue streams to creators of short form content really seems to be getting traction”.

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