SA radio podcast firm raises R2.5 million in funding
Podcast and audio streaming service iono.fm, has received R2.5 million in funding from a consortium led by advisory firm Clifftop Colony, and made up of South African and international investors.
The financing will be used to fund iono.fm’s domestic consolidation and for further investment in its streaming and podcasting services.
Founded in 2008, iono.fm optimises the uploading, hosting and sharing of audio content. The company also launched its own streaming solution in 2015.
In addition iono.fm has developed its own advertising engine that allows audio advertisements to be seamlessly inserted and removed from audio content hosted on its platform.
Audio advertising on the iono.fm platform is targeted and sold on a per audio impression basis and gives the advertiser much richer statistics and reporting than traditional radio advertising.
The company hosts more than 220 000 episodes and publishes 12 000 new episodes each month and has seen an 86% growth in podcast listens over the last 12 months.
iono.fm makes money by charging a percentage platform fee on campaign value from the insertion of audio adverts into the episodes that are delivered from the platform.
Content providers sign up for a podcast hosting package to use the platform and / or for the live streaming services in addition to other audio hosting and distribution services.
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