We are building the future of podcasting, by creating a modern platform for consumers and creators.
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | www.entale.com |
| Sectors | Entertainment Digital Mixed B2B/B2C |
| Company number | 10872547 |
| Incorporation date | 18 Jul 2017 |
Idea
Introduction
Entale is a next-generation platform that makes podcasting streamable, shareable, and interactive.
With our enhanced audio, listeners can interact with exclusive content from favourite shows while they listen.
See the murder scene described in your favourite true crime podcast; tap and read relevant news articles alongside your daily fix of the latest of news and politics; shop the looks, books and tickets from the latest lifestyle and entertainment shows with our integrated e-commerce technology. Entale is a truly interactive experience exactly when you want it to be.
Every episode is split into chapters, letting listeners share compelling moments as easily as they would share a YouTube video or Instagram post. By discovering and sampling a chapter a new generation of listeners can find podcasts they never knew existed.
The growth of podcast listening has long been constrained by outdated technology, created in the days when you really did listen on an iPod - it’s time to bring podcasting into 2018.
Entale, and its revolutionary new features, is here to do just that.
Intended impact
A quarter of people in the UK and US listen to podcasts regularly, which last year generated over $300m of advertising revenue for the industry. Entale is on a mission to accelerate this growth and bring podcasting to the remaining 75%, through our interactive and approachable format.
Our key metrics have shown that the Entale platform engages users and delivers on our promise of making podcasts more easy to browse, enjoy and share.
We think it should be as easy to find, listen and share podcasts as it is to browse Instagram, watch a YouTube video or share a song from Spotify. Entale does this through easy social sharing and cross platform listening, built on top of our distribution platform.
We believe that our more interactive approach to podcasting will open up the format making it more accessible for those that don’t listen to podcasts as part of their current media consumption routine.
If you’re a podcast creator, hosting and feed creation used to be a chore, with multiple competing standards. Entale’s easy web CMS lets you upload and distribute your podcast, creating easily shareable web players that can be embedded on Twitter and social media, as well as your own web site.
Substantial accomplishments to date
COMPANY
The company has been built as part of Founders Factory, the leading tech startup accelerator programme in London. Through Founders Factory, Entale has been invested in by Brent Hoberman (Founder of lastminute.com and Made.com) and The Guardian Media Group. The company has raised £435,000 to date, including from Ascension Ventures, one of London’s leading media investment firms.
CONTENT PARTNERSHIPS
• Many global brands trust us.
• For example, since launch Entale has signed content partnership deals with major media organisations including Conde Nast (GQ Magazine), The Metro, The Economist, The Guardian, Universal Music, TED X, Hachette Publishing and BBC Worldwide.
• Influencers creating content on the platform include Fearne Cotton (Radio 1), Jamie Laing (Made in Chelsea) and Ollie Mann.
• Dear Joan & Jericha, a weekly podcast created and hosted on the Entale platform, reached #1 in the iTunes podcast charts.
• How Little We Know, a youth-focused created by chart-topping British band The Vamps and hosted on the Entale platform, reached #4 in the iTunes podcast charts.
• Startup Microdose, a business and entrepreneurship podcast, featured at #5 in the iTunes Business podcast charts
• The Midult, a podcast about the trials and tribulations of becoming a fully functioning adult, charted at #4 in the iTunes Fashion & Beauty Chart
Creators with new shows launching on the Entale platform in the next couple of months include:
• Professor Green (chart-topping musician and mental health advocate),
• Vanity Fair (the iconic entertainment magazine)
• Phillip Mould (BBC1’s Fake or Fortune)
• David Yarrow (acclaimed photographer, awarded Art Book of 2017 by Amazon)
USER ENGAGEMENT
Entale is experiencing a growth surge, as more and more people find out about our unique offering:
PRESS AND MARKETING
• Featured as the #1 way to listen to podcasts by Apple, in its list of Podcasting Apps
• Already generating great user feedback:
• Featured in the industry press as a trailblazing platform:
Monetisation strategy
Entale is currently operating in pre-revenue mode while we continue to build out our tech platform and content partnerships.
Lack of data and measurement has prevented many big brands from getting on board with podcast advertising, meaning you can get the same adverts for mattress and web hosting companies over and again.
Entale captures detailed reporting on show and commercial performance, making the most of the rich content and sharing capabilities of the platform. This allows us to provide detailed analytics back to creators and advertisers that go beyond what is possible with podcasting today.
We will operate on a freemium model:
• Free access to shows with advertising inserted.
• Subscription fee that removes adverts (similar to Spotify).
• Micropayments for individual Premium shows or series.
We have completed our first advertising partnership successfully in a trial with The Economist, and plan to be rolling out a full version of these monetisation features early in 2019.
Use of proceeds
In order to continue to develop the core product, the 80% of new funding will be spent on additional staff for the engineering and product team. New features being developed include:
• Development of Android version of the app
• Dynamic advertising integration with IAB standards for audio.
• In-app payments for subscriptions and one-off purchases.
• Auto-creation of rich content using AI in the content management system.
• Alexa and Siri smart speaker playback and phone integration.
Additionally, 20% of funding will be spent on commissioning original content from our partners that is exclusive to the Entale platform, and acts as a marketing and user acquisition funnel.
Entale is how podcasting should be. We’re looking for like-minded investors to help us continue to shape the future of podcasting, by building a next-generation experience that elevates the format and brings it to the mainstream. Come join us!
Market
Target market
Entale is focused on onboarding new podcast listeners, creators and advertisers in an effort to transform the podcast and spoken-word audio market.
There has been great excitement over recent years around the podcast market with approximately 24% of the population listening to a podcast regularly, and $314m of ad revenue generated in 2017 (US).
However, there is a still a huge amount of growth to be unlocked. Recent Edison research found that 36% of people still don’t understand what a podcast is.
We believe that's because, for many people, the current podcast format is unaccessible, confusing and not as easy to grasp as other media consumption platforms such as Instagram, Twitter and YouTube.
We are focused on onboarding a new generation of podcast listeners that have not so far experienced the medium.
Characteristics of target market
The radio market is globally worth 70x the podcast market - and much as digital video has disrupted television, so digital audio is on track to disrupt traditional radio. In the US, radio was a $22bn market in 2017 - and, unlike other 'legacy' media, radio's share of advertising is actually growing, pointing to the increasing consumer demand for audio.
Whilst advertising revenue is growing, there is still huge growth to be unlocked and we believe our interactive, trackable features allow for more transparency and measurability which will result in podcasts being more readily adopted on media plans.
One of the key growth markets for us to target is the smart speaker, which is currently the faster growing consumer electronics product category. We are developing versions of Entale that work with Amazon Alexa, Google Home, and Apple HomePod to start to capture this market.
Marketing strategy
Entale’s key marketing and growth strategy is underpinned by our current and future content partners, the majority of whom have sizeable audiences and fan bases. For example, influencers such as Fearne Cotton and The Vamps as well as household brands such as BBC and the Economist.
Alongside this, we have identified a number of marketing channels that are effective for both acquisition and retention and will help to carry content-led brand campaigns. These channels include:
-Paid Advertising
-Social Media Marketing
-Brand Partnerships
-PR
-SEO.
Of course, we recognise that content is king. That's why we have allocated a portion of the funds raised in this round to paying for exclusive, premium content that is only available on the Entale platform - much like 'Netflix Originals'. These will be produced in conjunction with existing and new content partners.
Competition strategy
Although we can be compared to other podcasting platforms such as Apple podcasts, Castbox, Stitcher etc we believe that we are offering something fundamentally different that puts us into a different category entirely.
Other perceived competitors still treat podcast as they always have been - a one-dimensional, flat, downloaded mp3 file.
At Entale, we are changing how podcasts and spoken-word stories are created, consumed and distributed, which means we are able to provide a transformational experience that appeals to the wider universe of audio listeners, not just current podcast fans.
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