Voice and podcasting are hot in 2018. If your company or personal brand is not riding the audio wave, you’re likely setting yourself up to leave a lot on the table.
Omny Studio was created to help enterprise podcasters and broadcasters move into the on-demand audio space by providing hosting, publishing, editing, analytics, and monetization tools all in one place. Their complete audio management solution for podcasters and radio stations aims to simplify enterprise podcasting.
How much is Omny Studio doing in MRR?
Omny Studio is a pure-play SaaS company that charges its customers on a monthly basis based on usage. Customers range from small $30 per month contracts up to tens of thousands per month with the average paying them between $400 and $500 each month today.
According to CEO Sharon Taylor, the company has scaled to 750 total customers right now and is doing north of $300k in MRR at this point in time. Taylor joined Omny Studio two years ago and has been responsible for driving 300% year over year revenue growth over the last 12 months.
What is Omny Studio’s churn?
In all of their cohorts, Omny Studio is currently exhibiting net negative annual revenue churn. Expansion revenue outpacing churn, combined with a growing market overall and a change in business model have all contributed to the healthy growth, according to Taylor.
In terms of customer acquisition, Omny is paying between $300 and $400 to land a new customer today and is receiving payback within the first month. Going forward, the company is looking to become more aggressive with customer acquisition and expects this figure to increase.
How much has Omny Studio raised?
Taylor joined the company after a small bridge round was raised in 2016, but noted that Omny is not looking to raise additional capital at this point in time. Overall, the company has raised $2.3M in venture capital thus far.
Omny’s team of six full-time employees is based in Melbourne, Australia and is currently exploring hiring more engineers. When asked if she’d consider selling the company for 2x ARR, Taylor rejected this notion and instead is excited to see if they can maintain their impressive growth rate going forward.
