Sweden’s PodX Group Launched To Invest In International Podcast Enterprises
The launch is announced of PodX Group (www.podxgroup.com) a Stockholm-headquartered company committed to investing in International podcast IP rights: offering financing, business development, internationalisation and commercialisation to emerging podcast producers and creators.
The company founders are leading Swedish media figures, Patrick Svensk (centre) (creator of Sweden’s TV channel “Kanal 5” and built the international TV production company groups Zodiak Media and Nice Entertainment), Staffan Rosell (left) (previously Nordic head of SBS Radio, Discovery Radio, and CEO of Bauer Media), and Fredrik Said (right) (former head of new market expansion at podcast platform, Acast).
The company will immediately start finding the world’s leading podcast creators and, through active ownership, help them grow. PodX Group is also announcing backing by Stockholm-based Pophouse Entertainment (www.pophouse.se) - the entertainment company whose commitment to developing IP rights was established by its March 2022 acquisition of the back catalogue of electronic music pioneers, Swedish House Mafia.
Today’s podcast market consists of many diverse producers. It is expected to grow rapidly in the coming years in terms of listeners, the number of podcasts, and advertising and subscription revenues. The number of listeners globally is forecast to increase from 800 million in 2021 to 1.6 billion in 20241, and commercial revenues are expected to double within the next 3-4 years2, according to IAB and PwC.
“PodX, with Pophouse’s support, aims to help podcast creators to develop and grow. There is a wealth of talent in the industry that creates great content, but many players lack the resources to realise their ambitions. PodX Group will be active owners and offer financing, business development, internationalisation, and commercialisation to the companies we invest in”, says Staffan Rosell, founder, and CEO of PodX Group.
PodX Group’s business concept is to invest in podcast producers who create the best content and, together with the companies founders, develop the companies into leading producers in each market and segment. In addition, the partner companies that become part of the group can benefit from being part of an integrated network. PodX Group is headquartered in Stockholm and has employees in ten markets, including Sweden, Germany, the UK, France, Spain, the Netherlands, Italy, Norway, Denmark and Latin America.
“We are focusing initially on Europe but also see great potential in Latin America, India, and Africa. By gathering talent and rights from around the world, we will be able to create economies of scale at every level. For example, we can help a successful podcast format from Germany establish itself in other markets. We can contribute with creativity and knowledge about legal issues or enable the exchange of ideas between companies in the group across various territories”, says Staffan Rosell.
The entertainment group Pophouse Entertainment, which recently acquired Swedish House Mafia’s back catalogue, becomes a partner in PodX Group and thereby continues investing in and developing IP rights with leading creators in music, podcasts, and entertainment. In August, the podcast company Perfect Day (www.perfectdaymedia.se) was acquired and became a wholly-owned subsidiary of Pophouse. Perfect Day and PodX complement each other in the fast-growing pod market. Perfect Day will expand geographically, both through the export of formats and the establishment of new offices abroad. PodX will invest in existing content companies worldwide.
“We continue to invest in IP rights and want to be involved in the podcast industry at an early stage where we see great opportunities in a market that is growing explosively. There are plenty of talented content creators with great potential to commercialise and develop. The team at PodX has a perfect mix of skills to succeed. Together, they have solid experience from both the audio industry, with several podcast ventures behind them, and from TV and film production where they have built successful companies”, comments Johan Lagerlöf, Head of Investments at Pophouse.
About the podcast market
1 The number of listeners globally is predicted to increase from 800 million to 1.6 billion according to PWC’s report “Global Entertainment & Media Outlook 2020.”
2 According to a survey by IAB conducted in the US in 2015, 10 percent of marketing executives answered that they would probably advertise in a podcast in the next six months. When asked the same question in 2020, the figure rose to 37 percent.
A survey by Westwood One shows several reasons why podcasts are growing in popularity with marketers in the US. In addition to audience growth, podcasts have a youthful audience profile. Podcast listeners have a median age of 34, younger than radio (47) and network TV (57). In addition, the proportion of monthly podcast listeners among 12– 34 year olds has increased from 27% in 2017 to 49% in 2020.
Data from IAB and PwC in Europe and the USA show a doubling rate within 3-4 years for advertising revenue in podcasts.
About the founders:
Patrick Svensk started Kanal 5 in Sweden and built the international TV production company groups Zodiak Media and Nice Entertainment.
Staffan Rosell has previously been Nordic head of Viacom, SBS Radio, Discovery Radio, and CEO of Bauer Media. During his time as CEO of Bauer Media, he founded the audio entertainment platforms Radioplay and Podplay.
Fredrik Said has worked with global expansion for both Universum and Acast, where he was responsible for Acast’s establishments in Mexico, Canada, and Ireland.
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