Copenhagen-founded audio subscription service Podimo secures €69 million to expand original content on a global scale

Founded in 2019, Podimo is a fast-growing subscription service for audio entertainment and podcasts based in Copenhagen. The company is on a mission to expand original content available on a global scale and has just secured €69 million in funding led by 83North and Highland Europe to do so, just nine months after a successful Series A. 

Podimo offers thousands of exclusive podcasts, audiobooks, and experiences in both short and long formats, as well as popular podcasts from anywhere in the world via RSS feed.

The young startup has found that an average of 93% of listeners prefer to listen to short-form audio, podcasts and audiobooks in their native language. With this insight, the innovators have a vision to put local language content to the core of user experience with audio subscription services.

With a user-centric revenue-sharing model, the fresh company supports creators directly, and membership fees are shared with the content you listen to each month. As a result, the service nurtures a much closer direct-to-fan relationship than other audio subscription platforms.

In 2021, Podimo doubled its output of exclusive shows week on week, spanning today’s most exciting and important voices and are now offering more than 950 original productions and exclusive shows. Currently, the service is available across Denmark, Germany, Spain, Norway and across Latin America, with an aim to expand further next year.

CEO and founder Morten Strunge said: “The podcast and audio market is expected to grow beyond 50 billion USD over the next 5-6 years, with more and more audiences discovering compelling, short-form, spoken word audio every day…With a solid foundation, we can accelerate our investments into premium original and exclusive content from today’s most exciting and important voices, bringing in more users and bigger payouts to creators, while applying our learnings to new market expansion.” 

Podimo has partnered with iHeartMedia, Wondery, German audio platform FYEO, influential voices like Norwegian bestselling crime writer Jo Nesbø to create original productions around existing IP, and has seen successful translations of hit shows such as “Mord i Nord”, “The Missing” and “Swindled” resonate strongly in new markets.

Podimo Kids, an independent channel with specific content for children between 2 and 10 years old, has also launched in Denmark, Germany and Spain.

With further global expansion in the pipeline and this passion for local language content, the funding will enable Podimo to continue disrupting the lucrative podcast and audio market.