Whilst there are several podcast and radio platforms available, Castbox is fast gaining traction (it has been installed over 15m times to date, with 1.8m users) thanks to its special features, such as tailored recommendations and in-audio search capabilities.
HOW THEY’RE DISRUPTING
Castbox uses natural language processing and machine learning to provide its users with personalised recommendations and even in-audio search, enabling users to search for specific terms or phrases mentioned within podcasts to find episodes or topics that may appeal to them.
The app also offers users personalised recommendations on what to listen to, based on their previous listened-to list.
There are around 525,000 active podcasts currently available, although this figure is climbing at an impressive rate. Year-on-year growth of podcast listening is increasing at a rate of around 10-20%.
INVESTMENTS AND FUTURE
The company recently raised $13.5m in Series B funding, bringing its total investment to $29.6m. Lead investors include SIG China, IDG Capital and Qiming Venture Partners.
Founder Renee Wang, has stated that some of the money will be put towards further developing the company’s ‘Castbox Originals’ – original programming such as ‘Off-Track with Hinch and Rossi’ and ‘Heard Well Now’ – to help draw larger audiences to the app.