The podcast hosting and analytics company Supercast is moving out of the beta stage and it is bringing a new chief executive onboard to lead its rollout. Jason Sew Hoy has been named CEO of the Oakland, CA-based company that markets a subscription podcast model to show producers. Hoy most recently was COO and Chief Growth Officer at 99designs, the startup that connected creators and clients.
“Everyone’s listening to podcasts these days, but what really grabbed me was the passion economy movement and realizing just how big an opportunity most podcasters are missing,” said Hoy in a blog post. “While podcasters like Tim Ferriss and Joe Rogan have grown such large audiences that advertisers flock to them, there are many others who educate, entertain and engage their fans purely out of passion and without much hope for profit.”
That is where Supercast sees itself playing a role. It allows podcasters to embrace a subscription-based business model to get paid directly from their listeners regardless of which player they choose to use. It points to podcasts such as Peter Attia’s The Drive, Rhonda Patrick’s Found My Fitness, and Shane Parrish’s The Knowledge Project as shows that are already using its model — and all three have subsequently invested in the company. “Supercast has already helped drive over seven-figures of revenue to its customers and doubled the number of subscribers served compared to four months ago,” the company said. It contends podcasters that use a subscription model earn twice as much revenue as those shows who rely on ad dollars.
Supercast has to date been backed by Tiny Capital. It also announced that it has raised $2 million in seed funding from Table Management, Form Capital, and individual investors including Christian Reber, founder of Wunderlist and Pitch, Des Traynor, co-founder of Intercom, and Steli Efti, founder of Close and co-host of The Startup Chat podcast. “While Tiny bootstrapped Supercast’s initial investment, investor interest came flooding in after the beta launch,” said Hoy. He said Jason Fried, co-founder of Basecamp and the Rework podcast, and Eric Siu, co-host of the Marketing Schooland Leveling Up podcasts, have joined Supercast as advisors. He added that they’ve now begun staffing up and plan to add additional platform features.