Podimo, a Copenhagen-based company, secures €44 million. Invested from The Danish Export and Investment Fund (EIFO), investment firms HighlandX and Chr. Augustinus Fabrikker.
This significant investment reinforces the company’s commitment to innovation, creator empowerment, and long-term success while indicating a bright future for both the business and the sector as a whole.
Morten Strunge, CEO of Podimo said, “This investment allows Podimo to continue our strong growth trajectory while orienting the company towards profitability, remarked, Our primary focus is on cultivating a robust business model that ensures success for all stakeholders within the spoken audio entertainment ecosystem.”
Particularly in light of the present economic climate, Podimo’s growth and subscription model have proven remarkably resilient, and the company’s methodical approach to providing premium, unique content significantly boosts user engagement and retention.
Strunge said, “We’re proud of the trust our listeners place in us, demonstrated by their increased engagement and diversified content preferences. Our continued focus on delivering quality shows and a seamless user experience has resulted in significant growth and sustained enthusiasm from both creators and listeners,”.
Podimo is still dedicated to enabling creators by offering long-term revenue streams and striking a balance between ambitious expansion plans and fiscal discipline. The company offers creators more than just dependable revenue streams.
For a small membership fee, Podimo is a premium audio subscription service that provides all of your favourite podcasts from across the globe via an RSS feed, along with a wide range of audiobooks and exclusive podcasts.
The platform, which was established in Copenhagen, gives all listeners smart curation, simpler discovery of new material, in-app videos, and an intuitive design. It also divides its earnings with all artists, regardless of whether they are solely represented or openly available via the Open RSS on Podimo.