In the wake of ever-increasing demand for podcasts in the international market, yet another start-up has set foot in the industry. Podimo, based out of Copenhagen, is all set to launch soon and has even managed to raise a whopping €6 million in seed funding. No wonder the start-up company already has high plans to become the next ‘‘Netflix for podcasts’’ in Europe.
The company’s funding round is being co-led by two other firms – E.ventures of Germany and Heartcore based in Denmark – in a move towards planning the company’s launches in the two prime regions of Europe around the latter part of this year.
Podimo has been started by Morten Strunge, a name that has gained wide acclaim in the domain of subscription media products through his contribution at the audio books service Mofibo. Strunge later sold off Mofibo to Storytel. The co-founders of the company include Nikolaj Koppel, Andreas Sachse, and Sverre Dueholm.
Podimo intends to launch a “freemium” model of its product, meaning both a free as well as the paid version. The latter would facilitate additional features like unlimited listening. This is being done to keep a stable source of revenue coming for podcast producers.
Posing competition to the numerous podcast streaming and download services available currently, the Podimo app intends to stand out by offering a “superior experience” in user search and recommendation so as to make the entire process of finding your next podcast extremely convenient.
In an interview to Techcrunch, the start-up’s founder Strunge said, “Podcasts have finally come of age and we are seeing a lot of demand for audio content globally across many different demographics.” He added that “consumers are increasingly looking for premium, ad-free services, and we see a huge potential in the podcasting space.”
Strunge also expressed his strong belief in audio as a format, explaining further that compared to reading content, listening to it always work better and comfortable for the user. He also added that audios drive higher subscriptions with their short duration, reality-based, and series-driven formats.