The Meet Group (TMG), umbrella to brands including LOVOO, Skout and MeetMe, has announced the addition of a new podcast platform to its portfolio.
Podcoin, launched by CEO Geoff Cook and brother David, allows users to accumulate in-app currency while they listen to their favourite shows, and then spend that currency on rewards such as Amazon vouchers.
The innovative brand has overtaken both Stitcher and Overcast on the App Store, and is rated at above 4.5 stars on both iOS and Android.
Geoff Cook said: “Podcoin is the social podcasting app that pays its listeners. Within four months of initial launch – and entirely organically – the app surpassed one million daily listening minutes.
“We look forward now to bringing Podcoin to our 15+ million monthly users, across our livestreaming portfolio of social apps. We expect that 40% of our US audience will listen to a podcast in the next month. We see an opportunity to reach not only these users, but also the other 60%, as the podcasting industry continues to rapidly expand.”
The app hosts popular shows including The Joe Rogan Experience, The Tim Ferriss Show, The Daily by The New York Times and Stupid Genius by Emma Chamberlain.
The CEO continued: “Our mission has always been and continues to be about increasing human connection, and podcasting is an inherently intimate medium. It makes you feel like you are in the room, participating in a meaningful conversation.
“We see an opportunity not only to help our users discover content, but also to participate in meaningful conversations around that content. We expect to roll out likes, comments, and an enhanced social graph in the coming months to encourage connection. We see podcasts as an untapped interest graph and a relevant signal for meeting new people. If our livestreaming video experience is the lean-in, interactive blend of connection and entertainment, podcasting is its lean-back audio complement.”
Last month, TMG announced the complete acquisition of Growlr, a gay dating app with over 200,000 daily active users. The company plans to bring one-to-many livestreaming to the platform as a first move in the LGBTQ space.
Visit the Podcoin website here.