Straw Hut Media

Straw Hut Media

Podcast creation and distribution platform for 30+ podcasts that have been downloaded 12+ million times

Security Type
Convertible Note
Min Investment
$100
Location
LOS ANGELES, CA
Expected Close Date
August 15, 2022
Amount Raised
$850
Target Raise
$50K-$500K
No. Investors
7
Security Price
$1

Company Description

The popularity of podcasts hit new highs in 2021. According to Edison Research, it was estimated that 41% of the U.S. population (more than 100 million people) were active monthly podcast listeners.i Globally, it was projected that over 380 million users would tune in to listen to their favorite shows or discover new ones, an increase of 40% since 2019. This number is expected to increase, reaching over half of a billion global users by 2024.ii More interestingly, users are spending more time listening to podcasts, which presents an opportunity for podcasters and podcasting distribution companies to capitalize on this growing trend.iiiStraw Hut Media (“Straw Hut”) is a podcast content creation platform that hosts and distributes over 30 unique podcasts across a variety of audio distribution platforms. With Straw Hut’s platform and partnership, podcasters can receive high-quality podcast production and distribution by focusing on what they’re good at – creating captivating content. By allowing creators to focus on the content, Straw Hut’s approach simplifies the complexities that come with podcasting, brings in potential revenue-generating advertising that can be shared with its content partners, and even owns the licensing rights to some of its popular podcasts.Straw Hut’s podcast portfolio consists of content created by well-known personalities, including the likes of Brandi Glanville who appeared on The Real Housewives of Beverly Hills, TV host Daisey Fuentes, and musician Richard Marx. Among its other podcasts that cover a variety of topics from pop culture to surgery, the company reports over 12 million downloads in 2021 alone across its entire portfolio. Its reputable listenership has enabled it to bring in nearly $225,000 of revenue in 2021, up 13% year-over-year.  Straw Hut is seeking its first round of outside funding to continue this growth with the aim of acquiring new content, expanding its team, and investing and research and development initiatives.

Key Deal Facts

Creates and distributes over 30 podcasts that cover everything from pop culture, history, health and fitness, entrepreneurship, and much more, One of its podcasts dives behind the scenes with the cast and crew of Hulu’s popular TV original “Only Murders in the Building,” which is slated for a Season 2 coming out this June, Straw Hut’s podcasts have been downloaded over 12 million times in 2021, Has already begun monetizing its podcasts and is planning to build out its portfolio to increase advertising income

Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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