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Podcasts: Binge Audio opens its capital to its listeners

2021-11-09T12:25:47.831Z


The podcast studio is seeking to raise 500,000 euros via the SoWeFund participatory investment platform.


Independent podcast studio Binge Audio is calling on listeners to become minority shareholders in the company.

The company is launching a participatory investment on Tuesday on the SoWeFund platform.

Objective, to increase its capital by collecting 500,000 euros.

Individuals will be able to invest in Binge Audio from 100 to 50,000 euros.

"

The subscribers will be represented in a holding company which will own around 20% of the company

", specifies its chairman Joël Ronez.

This investment opens a tax deduction of 18 to 25% of the sums invested.

At the end of the operation, which will close in mid-December, the shareholding of Binge Audio will be held for one third by its founders, another third by the Les Echos-Le Parisien group, and the remaining third will be shared between the subscribers. and

the company's historic

business angels

(Upian, Spintank, Tournez Please ...). "

We have the will to remain independent and not to dilute too much the share of the founders

", emphasizes Joël Ronez.

The money collected with this fundraising will be used to invest in programs, technical tools, and to strengthen teams.

"

We would like to increase from 18 to 25 people by 2024, by strengthening our efforts in particular in the areas of marketing, communication and senior management

", continues the co-founder.

"Access to capital is difficult for the podcast"

The studio studied the track of “traditional” fundraising from investors, before dismissing it.

We are not in tech!

We have a publisher model

, ”continues the president.

Access to capital is difficult for the podcast and the new media have struggled to access funding.

We are not eligible for public aid or tax credits.

"

Binge Audio is therefore attempting participatory investment, “

because we have a capacity to mobilize our audience, which will help us guarantee our future.

"In its information document filed on the SoWeFund platform, the company states that"

more than 5% of our listeners make purchases of paid products from Binge Audio

", such as the purchase of books derived from podcasts (more than 40,000 sales for the adaptation of Les Couilles sur la Table), ticketing for events or a paid podcast offer.

Read also Podcast studios convert to paid

2 million euros in turnover

The company reveals for the first time its turnover, which is 2 million euros for fiscal year 2021. “

We were at one million euros in 2019, and we are targeting 3 million euros as well as the financial balance for 2022

”, indicates Joël Ronez. To date, 60% of revenues come from the production of podcasts for third parties, be they brands, public institutions, or the purchase of content by streaming platforms like Spotify. Advertising within the studio's audio programs accounts for 20% of turnover, and income from listeners (books, ticketing, subscriptions) represents the remaining 20%.

In the United States, podcast production studios have been bought out one by one by Spotify or Amazon.

Such a scenario is not yet under study in France despite the presence of many companies specializing in this new medium.

The French [native] podcast market is not yet mature enough to consider acquisitions.

It must be consolidated,

”said Joël Ronez.

Binge Audio claims to have 650,000 unique listeners to date, which represents a little over 2 million plays per month of its programs.

Figures far removed from catch-up radio (135 million listens in September, including 39 million just for France Inter programs), which is the most widespread use of the podcast in France.

Source: lefigaro

All life articles on 2021-11-09

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