How Castbox (Podcast Streaming App) Has Raised $13.5 Million in Series B Funding With These 3 Powerful Features

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How Castbox (Podcast Streaming App) Has Raised $13.5 Million in Series B Funding With These 3 Powerful Features
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This article is for those entrepreneurs and startups who have taken a plunge to create a podcast streaming app. We’ve compiled three powerful features, which you can consider before developing a podcast streaming app like Castbox.

Nowadays, the mobile app categories like streaming media, video, and music seem to get all the attention. Nevertheless, podcasting is one of the fastest-moving categories in the streaming space. To take advantage of this momentum, podcast startups are devising innovative features that give a better listening experience.

We came across with the latest news of a game-changing podcast app maker startup company named Castbox that has been creating a buzz in the streaming space. According to the latest news, “Riding high on the growing consumer demand for podcasts, a startup called Castbox has raised $13.5 million in Series B funding for its technology-fueled podcast app.” The round was led by SIG China, and includes participation from existing investors IDG Capital, Qiming Venture Partners, and GSR Ventures.

Castbox – The Podcast App

Castbox is a San Francisco-based award-winning global podcast platform that enables users to easily find, access, create, and enjoy spoken audio content. And, the names of the founders are Renee Wang, Shibin Li, and Xiaocong He.

  • Castbox is a cross-platform podcast application that is available for iOS, Android, and Amazon Alexa, and the web.
  • The Castbox app differentiates itself from the competition by offering in-audio search functionality, curated recommendations, and an expanding lineup of original content the company calls – CastBox Originals.
  • Since its launch in 2016, Castbox has gained over 15 million app users worldwide and grown its audio library to 50 million episodes.
  • If we’re talking about a list of awards that the app has won, it includes Google Play Android Excellence app of 2017, Nominee of Google Play Awards 2017: Standout Startup, Winner of top trending apps from global best 2016 by Google Play, and Winner of “Most Entertaining” from Best Apps 2016 by Google Play.
  • In the below image, you can see the growth of Castbox app, which is growing upwardly.

Castbox-Free-Podcast-Player-Castbox-SimilarWeb-Growth

What Makes Castbox Different From Other Podcast Apps

Well, there are a number of podcast apps on the marketplace right now. You might be thinking that what makes Castbox different and interesting from other podcast apps. Castbox uses the proprietary technology as it has under the hood. The platform is using natural language processing and machine learning technique to power some of its unique features such as personalized recommendations and in-audio search.

Now, let’s check out some of its unique features, which you as a startup can consider while developing one of the best podcast apps for android/iOS.

3 Powerful Features to Consider Before Developing Podcast App like Castbox

1. In-Audio Search

The feature named in-audio search works based on in-audio search functionality that arranges and indexes spoken words audio content, so that the app users can search for keywords and topics within the audio itself.

When it comes to technology, the in-audio search feature is based on the voice recognition. It means that the app users don’t have to depend upon things like episode titles, descriptions, and show notes in order to find out a podcast related to the topic as what they want to listen to. Users are now able to search the Castbox app for any podcasts where the term mentioned.

Podcast-streaming-app-gif

This unique feature is attracting enormous app users. That’s why the app, Castbox has been installed 15 million times, and currently, it has 1.8 million daily app users with a retention rate of 50%.

Currently, Castbox has a user base with 45% from the United States. But, those app users are most engaged. Americans spend the most time in the app, and listening to an average of 113 minutes per day.

Meanwhile, Chinese app users subscribe the most with an average of 12 subscriptions per user. However, you as a startup can make additions to its usability, content discovery, and personalization. Therefore, it is important to include such viable features in the app, which app users find attractive.

Undeniably, CastBox has consistent growth across all metrics, but more importantly, the company is extremely passionate about the podcasting space. This startup company has fierce competition in the U.S. where there are dozens of alternative podcast players available across platforms to those from major players like Apple and streaming services like Spotify and TuneIn.

Nevertheless, app users are always looking for the best app to serve their needs and focus on discovery. This feature can give your podcasting app an extra edge to grow.

2. Cross-Platform Support

In the past times, users were not able to play their favorite tracks everywhere. Everywhere means, they were not able to play it in their cars and smart home devices. This podcast-streaming app provides cross-platform support to its app users.

So, being a podcast startup you need to provide such feature in which the podcast-streaming app must be compatible with all other devices like music system in your car and smart home devices like Amazon Alexa and Google Home at one time. However, users’ favorite spoken shows are synchronized on all castbox-supported platforms so that users can pick up where they have left off, and they can listen interruption-free.

Additionally, the podcast-streaming app allows users to bring their podcasts go anywhere anytime. With this vision in mind, the podcast-streaming app strives to make user-friendly and simple, and which can be a smart audiobook player at any time. So, the next feature that you can consider to develop an app like Castbox is allowing app users to cross-platform support.

alexa

3. Enables to Tune in On-Demand Radio

To create a successful podcast app like Castbox, you as a startup can’t miss this feature that enables to tune in the on-demand radio. In order to better serve your podcast app users, you can provide on-demand radio, and smart radio books into the podcast. Such feature allows users to enjoy on-demand FM where signals are weak. If you are providing such feature in an app, then you can’t miss to include such powerful feature to make the app stands out from the crowd.

This on-demand radio feature allows users to tune in radio across the globe, and they can listen to immerse themselves in the world of podcast. Moreover, users can listen to podcast when you go on a hike, anchor Castbox to your arm. They can use podcast such feature to download and tune in radio in the mountains where signals are weak.

podcast-app

Stats About Podcast and Online Radio

As per the report of the music industry, music streaming is setting a whole new range of records:

  • According to the source, the number of urban on-demand streams rose from 55.9 billion in 2016 to 100.34 billion in 2017.
  • The number of on-demand audio streams in the U.S. in 2016 and 2017 were 301.35 billion ad-supported on-demand audio streams and 191.36 billion.
  • As long as ad-supported music services are concerned, over 900 million app users do not mind using ad-supported music streaming services.
  • The streaming revenues are increased by 45.2% and now account for 43% of all digital sales.
  • In the below images, you can see the growth of weekly online radio listening that is from Edison research.

Weekly-online-radio-listening

  • By 2021, music streaming will account for 86% of the EU Digital Music Market.

Conclusion

After going through the above points, it is safe to say that the music streaming and online radio are the hottest business niche. If you have planned to develop Android app in the podcast niche, then you need to cross-verify your app ideas with any trusted mobile app development company.

In case, if you still have any query or confusion on the podcast and online radio app development, you can get in touch with us through the below-given form. Our sales representative will revert you within 48hrs.

This page was last edited on May 1st, 2018, at 9:39.
 
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