In the world of today, where people are always looking for faster and better ways to consume information, podcasts have emerged as popular information sources. With over 5 million podcasts out there and 70 million episodes, the podcast industry has never been this popular. The growth of this already big industry is expected to keep on growing at a compounded rate of 31%. This would mean that the global podcast market could reach $98 billion within the next 5 years. Not only that, but podcast ad revenue in the US alone is already predicted to skyrocket from $1.5 billion in 2021 to $4.2 billion in 2024. Because of all of this, we could expect podcasts to be a force to be reckoned with now and in the near future.
What is PodFast?
Having seen this large demand for time-saving products like Blinkist, Podcast has jumped into the same type of market but instead of books, they focus on podcasts. PodFast has created a tool that can take any podcast and turn it into a short summary. Not only that, but their AI-powered engine can also create audio and visuals around the summary. Which will leave you with a full-fledged video summary of your favourite podcasts. Although this might sound cool. PodFast has already taken it one step further. By not only making it possible to summarize podcasts. But also any other long-form audio like Twitter space, YouTube, or your own audio files.
The AI-powered Browser Extension
PodFast doesn't only summarize podcasts. With its AI powered software, it will easily convert any type of video into summarized text, video, or audio format. All these features will not only be available through their app and website, but also through their browser extension that will let you summarize on the spot. So when you find something online that needs to be summarized, you will have the tools in your extension tab of your browser.
Create Your Own PodFast Summaries
PodFast products will be for everyone. But one group that stands out is podcasters themselves. Because they already create the content, they might not want to waste their time making summaries or other sharable materials. By using PodFast they could create easily sharable summaries that they could share on Twitter and other social media sites. This way, long form content creators can create short videos that easily get attention on social media, which could lead to more viewers and listeners to their actual long form content. Or that could be shared as just as extra content on their accounts.
Video Summaries
The most crazy thing with PodFast is, is that it doesn't just summarize the audio and video. But it can actually create a video as well. The fact that it makes it possible to go from one form of content to the other and summarize them when you need, makes it a powerful engine for content creators alike. How these videos will look like will of course depends on the content used to create them. This also means that some of these videos might rank good and some won't. So the final output of the PodFast engine will still be reliant on the input by anyone that uses it. Put in something bad and something bad will come out. Put in something good, and you might end up with a great new form of content.
Business model and pricing
PodFast has created a product made for the masses. So just like Spotify and Netflix, they have a subscription model that anyone can afford. Their prices are as followed:
- 3 summaries per month for free
- 10 summaries per month for $2.99
- 50 summaries per month for $7.99
Because PodFast is only just at the beginning of their product journey, they do not have many income streams yet. However, as a young company, they still have lots of options to add to their product suit and income streams. Where they could add things like unlimited as a membership or some sponsorship options to materials etc.
The industry that PodFast is tapping into is large and still growing rapidly. Being somewhere between the AI industry and the Podcast industry, which both have good outlooks for the future. Because of this, the outlook for PodFast looks very bright as long as they can deliver on the product as described.
Marketability and Growth Opportunities
There are a few things that make PodFast stand out in the market that could keep them at the top. One of these is the fact that there are few to non competitors that focus on the same thing using AI tools and content creators. Although other summaries tools have been around for some long time, few have the same ingenuity as PodFast does with their AI powered engine.
Another thing that PodFast can stand out with is by helping with keyword ranking, as the program can make detailed summaries from videos into text. These text can then be used on websites to be ranked on search engines like Google, and Bing. This allows them to capture a significant share of organic traffic and attract more users.
The $FAST Token – Unlocking Premium Services
The $FAST is an Altcoin token that functions as a utility token within the PodFast ecosystem. Holders of $FAST tokens enjoy several benefits, including:
A shared 0.75% reflection from all transactions. Access to premium services such as ad-free content, exclusive videos, text/audio summaries, and a members-only chat area. Discounted or free access to the PodFast summary AI consumer app and browser extension. And on top of that, holders of the $FAST token will also receive a part of the profits made by the company.
The token currently exists as a BEP-20 token on the BNB Smart Chain. So if you want to hold it you will need a BEP-20 wallet, and trade the token on an exchange like Pancake Swap. As the token grows, this hopefully expands to more than one ecosystem.
PodFast has an ambitious roadmap for the coming quarters
At the beginning of June, PodFast already released their first demo to their Telegram group. This will be followed up with the official release of the product at the end of July. This is an ambitious plan, as they only launched their token spring this year.
Although PodFast has its product release at the end of July 2023. Not the full product suit will be out from the start. At first, they will start with summaries to text and audio. Later on they will add things like video as well. And throughout the year 2023 and 2024 we should see a few releases of updates or new auditions to the product suit of PodFast.
PodFast’s Founder
PodFast’s founder, Jeff Kirdeikis, has been well known in the crypto industry as a successful entrepreneur and the creator of Trust Swap. With over $750 million secured across many blockchains, his company has launched many coins and tokens that made their investors wealthy. And also made Jeff well known in the space.
As one of his new business pursuits, Jeff of course choose his own launch pad Trust Swap as the place to launch the token for PodFast. This sale did not just sell out, but was actually one of the most popular launches on the platform, which is most likely thanks to Jeff’s name and previous success.
Conclusion – A new Future for Podcasts
PodFast could transform the way we consume podcast and other long form content, empowering users to supercharge their learning speed and conveniently access information. With the AI-powered summaries, and animated visualizations, PodFast is leading the charge in the podcast AI industry. Whether you're a listener, content creator, or advertiser, PodFast offers a range of benefits and revenue opportunities that could be explored. So embrace the future of podcast summaries and unlock the full potential of your podcast experience with PodFast.
.webp)