[NEWS] Podimo raises €6M to become Europe’s ‘Netflix for podcasts’ – Loganspace

Podimo, a Copenhagen-primarily primarily based mostly startup constructing what it hopes will change into Europe’s “Netflix for podcasts,” has raised €6 million in seed funding sooner than open. The round is co-led by Germany’s E.ventures and Denmark’sHeartcore, reflecting the younger company’s two planned nation launches later this 365 days.

Based by Morten Strunge, who has a note file in subscription media products by intention of audio books provider Mofibo (which he equipped to Storytel), Podimo is hoping to capitalise on the upward thrust in consumption in podcasts. Ambitiously, this would possibly possibly well merely consist of both a free and paid model of its product, with the plot of rising a legitimate income movement for podcast producers. The startup’s other founders are Nikolaj Koppel, Andreas Sachse and Sverre Dueholm .

“Podcasts derive in the spoil approach of age and we’re seeing different seek data from of for audio explain globally across many different demographics,” Strunge tells me. “Shoppers are increasingly extra procuring for top price, advert-free products and providers and we behold an ample doable in the podcasting home”.

The Podimo app has been designed to manufacture a “superior skills” in discovery and advice in comparison to novel podcast streaming and download products and providers. The premise, says Strunge, is to create it as seamless and clear-carve as you can mediate to rep your next podcast.

“We predict about that with the like a flash increasing quantity of podcasts on hand, curation and discovery turns into increasingly extra most important to both unfold explain in a relevant context and to the categorical particular person client, which can profit both podcast creators and shoppers,” he says.

By launching a freemium model, where a paid model affords limitless listening and aspects, Strunge believes there is a risk to work closely with podcast creators to toughen the podcast ecosystem and create it less reliant on promoting income. “We want to alter into the most well-most in vogue accomplice for creators, by both working closely with their explain, curate and match it with every particular person client, however additionally by offering a superior monetisation model,” he explains.

The hope then is that a extra tough income movement will enable new podcasters to enter the market and novel ones to create extra. In turn that would possibly possibly well presumably give podcasters the financial headroom to make investments even extra time and effort into “rising huge explain”.

“Our dream is that with round 20% of different folks in Europe paying consideration to podcasts on a weekly foundation, many creators desires so as to create a dwelling out of rising podcasts, it shouldn’t correct be for the few,” says Strunge, presumably ignoring the indisputable truth that media most continuously scales to alter precise into a hits-pushed enterprise. “We are going to be succesful to provide income half to all novel podcasters accessible, however additionally co-manufacture and manufacture well-liked explain,” he adds.

Extra broadly, Strunge says he remains a exact believer in audio as a layout. He says now not simplest is it more straightforward to listen than it is to be taught however that podcasts are constructed for subscriptions. “It’s a brief layout, actuality pushed, sequence pushed and niche and colossal on the same time,” says the Podimo CEO.

As well, production stamp are low so it is you can mediate to preserve to a stamp level below song and VOD products and providers and Strunge is convinced we’ll continue to behold a significant create higher in the want of podcasts produced. It will consist of the broader market however additionally podcasts from extra official media avid gamers yet to make investments strategically in the audio layout.