Political Currency podcast maker Persephonica triples in value
Persephonica, the podcast producer behind shows such as Political Currency with George Osborne and Ed Balls, more than tripled in value during its latest financial year, it has been revealed.
The business, which was founded by former BBC producer Dino Soros, saw its net assets surge from £25,516 to £78,995 in the year to 30 September, 2024.
New accounts filed with Companies House also show Persephonica’s cash in the bank almost double from £111,996, to £202,736.
The Sheffield-based business launched the Political Currency podcast in September 2023 as its first original show.
The company also launched The News Agents podcast with Emily Maitlis, Jon Sopel and Lewis Goodall for Global in 2022 before exiting in April 2024.
Its other shows include Miss Me with Lily Allen and Miquita Oliver and Dua Lipa: At Your Service.
Persephonica was founded by Soros, who serves as its chief executive, in 2021.
He was previously the podcast lead for BBC News and helped set up the likes of Brexitcast and Americast.
Political Currency censured by watchdog
In April, Political Currency was censured by the advertising regulator after George Osborne and Ed Balls read out a “misleading” advert for ticket resale website Viagogo during an episode.
The Advertising Standards Authority said Viagogo had misled the public with its claim about the volume of events for which tickets were sold below face value.
The watchdog added that the promotion breached the advertising code and should not appear again.
Political Currency is distributed by Acast which is also behind the likes of That Peter Crouch Podcast.
In August 2024, Morning Wire reported that Acast saw its pre-tax loss cut during 2023 as its turnover passed the £50m mark.
The group, which also makes shows such as Sh**ged Married Annoyed and The Adam Buxton Podcast,reported a pre-tax loss of £5.8m for its UK business for 2023.
The total came after Acast posted a pre-tax loss of £8.2m in 2022.
Acast’s UK turnover also increased from £49.6m to £53m in the year.