Podimo, Europe’s leading platform for entertainment audio content, has announced a new $ 78 million funding round led by 83North and Highland Europe, and that has also had the participation of existing investors such as Chr. Augustinus, Heartcore, Saban Ventures, Headline and Possible Ventures.
“It is estimated that the audio content industry (podcasts, audiobooks, audio series, etc.) will represent more than 50,000 million dollars in the next 5 or 6 years, counting on an increasingly numerous listening public, which continuously discovers and consumes interesting audio content. It is a fantastic opportunity, and with our strategic approach based on content delivered in the languages of the different local markets, we feel well positioned to capture a substantial part of this market.“, Affirms the CEO and founder Morten Strunge.
With this new round of funding, the podcast and audiobook platform now has received a total investment of 115 million of dollars. “In this new phase of the company, our goal is intensify the acquisition of new original and exclusive premium content, hiring the most relevant stories and creators from each market where we operate. We also aim create new audiences of listeners of audio content generating greater income for creators, while applying our lessons learned in the expansion to new markets. Our app offers a seamless user experience through personalized recommendations driven by AI, as well as video trailers. As a producer of content of all kinds, we have the ability to enrich existing intellectual property in exciting new ways, as well as produce our own content, testing what listeners can expect from audio content, both now and in the future.”Highlights, Morten Strunge, CEO of Podimo.
“In just one year, we have been able to create an impressive catalog in Spanish in Podimo of over 3,000 exclusive podcast episodes becoming the platform that has created the most original content in 2021 in this language. Thanks to this new round of financing, our goal is to double our investment in the creation of original content in Spanish to become the main entertainment audio content platform in Spain and Latin America. In this context, more than 200 renowned creators from Spain and Latin America have firmly opted for Podimo creating original content in podcast format for our platform: from Silvia Abril, Toni Acosta, Alex Fidalgo, Samantha Villar, Ángel Martín, Ricardo Moya, Eva Hache , Carles Tamayo, Frank Blanco, Iker Jimenez, Clara Lago and Judith Tiral passing through Patry Jordán, Teresa Viejo, Xavi Martínez, La Forte and Celia Blanco in Spain, among many others. In Latin America, we have managed to capture the interest of Alberto Lati, Beto Tavira, Eduardo Sacheri, Pamela Cerdeira, Antonio Ortuño, Diego Petersen, Sissi Cansino, Florencia Alcaraz, Dani3Palacios, among many other prestigious creators to tell their next great story in podcast. On the other hand, Podimo has reached collaboration agreements with media such as Vocento, La Vanguardia or Eldiario.es, among others. At the same time, about 25 large production companies in Spain and Latin America are collaborating closely with Podimo in the production of great podcasts such as El Cañonazo, Ekos Media, Osmos Global or El Terrat in Spain or Jarpa Studios, Posta, Así Como Suena or Anfibia Podcasts from America Latin “, declares Javier Celaya, general director of Podimo for Spain and Latin America.
“The payment model for audio content has been validated in multiple markets; the time has come to accelerate growth in the markets where Podimo already operates and to open new ones“Says Arnon Dinur, 83North partner. “The audio market is fascinating and competitive, but few have come as far as Podimo, quickly becoming the European market leader for subscription audio content in different local languages”, Add Fergal Mullen, partner of Highland Europe.
