Podimo, the Copenhagen-based subscription service for podcasts and audio entertainment, continues to raise money from investors and secured $78 million in a Series B round of funding in January. Now it is spending some of that money. It has struck a deal to buy the Dutch podcast company Dag at Nacht Media.
Terms of the deal were not announced.
The Amsterdam-based company founded in 2015 by childhood friends Tim de Gier and Anne Janssens is backed by Vereniging Veronica’s V-Ventures. It has grown into one of the biggest podcast publishers in the Netherlands, and publishes podcasts including Man Man Man, Mr. Big, and De Willem Podcast. The company says each month, eight million episodes of its podcasts are listened to in the Netherlands.
“Dag en Nacht was the first serious podcast publisher in the Netherlands, and they are responsible for a large part of the most popular podcasts,” said Podimo CEO Morten Strunge. “Tim and Anne have built a world class team. Together we want to invest in podcast makers to make more and even better podcasts. Furthermore, we will keep Dag en Nacht as it is, it will mainly remain business as usual for them.”
As part of the deal, Podimo will enter the Dutch market with a tailored version of its listening app. Podimo is not currently deciding which podcasts from Dag en Nacht and other podcast publishers will be made available exclusively on its platform.
“The podcast market has grown incredibly fast in recent years. Thanks to the collaboration with Podimo, we can now further increase the volume and quality of our podcasts,” de Gier said in the announcement. “There are still many stories that we would like to tell, but which we did not have the resources for until now. Podimo and Dag at Nacht share the same mission: to empower creators to create great podcasts.”
Podimo has become one of the largest paid podcast platforms in Europe, with a large collection of ad-free podcasts and audiobooks for 5 euros — or about $5.50 per month. They have had the greatest success with so-called ‘chatcasts’ talk shows. In entering the Dutch market, Podimo thinks that consumers in the Netherlands are ready to pay for podcasts, as they already do for streaming services.
“The launch of Podimo marks an important moment for the Dutch podcast market. It is important for the industry to mature that podcasters are not dependent on advertisers,” said Richard Musch, the former head of Business Development Europe for Netflix who has been tapped to lead Podimo in the Netherlands. “In April, we will begin announcing the first wave of ‘Podimo original’ podcasts. “We will use the coming weeks to sign a lot of new podcasters with us, both well-known Dutch people and new and young talent,” said Musch.
Podimo’s expansion in Europe comes just days after it announced it was teaming with the Spanish media giant Prisa Media with aims to capture a bigger share of the Spanish-language podcast market not only in its home country but also in the US and across Latin America.
We were able to raise $78 million in a funding round in November to support content and market expansion. In November 2020, Podimo announced a strategic alliance with iHeartMedia to take its podcasts into new international markets. It then announced a similar deal with Wondery and it also has partnerships with Paramount Network España and the German audio platform FYEO. Earlier this month the Copenhagen-based subscription service for podcasts and audio entertainment signed with the Creative Artists Agency (CAA) for representation.