Subterfuge Radio

What Subterfuge Radio does

Subterfuge Radio is a Madrid-based, Spanish-language podcast production company and live events operator, legally incorporated as Subterfuge Records S.L. Founded in 2019 and operating with a team of approximately 9 employees, the company produces a portfolio of original podcasts spanning cultural commentary, music industry analysis, food culture, film criticism, and LGTBIQ+ community voices, including Casa Cavestany, Pijas Marrones, Dios los riza, Ni tan malas, Simpatía por la industria musical, and the more recent El Club de las Perdedoras. Beyond original content, Subterfuge operates a podcast network and the Estación Podcast festival, the first Iberoamerican sound creation festival, now in its fifth edition, which draws over 10,000 attendees and 150+ industry professionals across live recordings, professional sessions (Estación Podcast PRO), music performances (Estación Podcast MUSIC), and talent development programs such as Podcastón, Podstars, and Desafío Amazon Music.

The company operates a freemium distribution model: all podcasts are free across Spotify, Apple Podcasts, Amazon Music, Ivoox, Google Podcasts, and YouTube, with select premium content available via Podimo under a revenue-sharing arrangement. Revenue is generated through three streams — podcast advertising and sponsorship (with dedicated advertiser contacts per show), paid event ticketing across multiple Madrid and Valencia venues, and platform revenue share from premium content. The business is founder/management-controlled (Carlos Galán identified as director), with no disclosed external funding, no subsidiaries, no M&A activity, and no patent portfolio. Operations are headquartered in Madrid with an emerging Valencia presence via the Estación Podcast Valencia franchise.

Name

Subterfuge Radio

Legal name

Subterfuge Records S.L.

Website

https://subterfugeradio.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Subterfuge Radio is a Madrid-based Spanish-language podcast production company that produces original podcasts across culture, music, and film, runs the annual Estación Podcast Iberoamerican festival, and operates talent development programs for emerging creators distributed across all major Spanish podcast platforms.

Ownership category

akta.pro rank

Product category

Podcast Production and Audio Entertainment

NAICS

Sound Recording Studios (51224), Other Sound Recording Industries (512290), Sound Recording Industries (5122)

SIC

Services-Motion Picture & Video Tape Production (7812), Services-Motion Picture & Video Tape Distribution (7822)

akta.pro primary industry

Podcast Networks & Multi-Show Publishers (MPACADAB)

akta.pro secondary industries

Podcast Networks & Studio Platforms (MPAIADAC), Podcast Production, Editing & Post-Production Services (MPACADAE), Audio Production & Podcasting (BPAFAIAE)

Keywords

• Spanish podcast production
• Audio content distribution
• Podcast festival management
• Independent podcast network
• Audio entertainment platform

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D

Revenue model

1. Podcast advertising and sponsorship: Subterfuge Radio monetizes through advertising and sponsorship within podcasts, with dedicated contact emails for advertisers on various shows.
2. Event ticketing: Revenue from paid live events at venues like Palacio de la Prensa, Sala Clamores, and other festival venues.
3. Platform revenue share: Revenue sharing agreements with platforms like Podimo for premium content distribution.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Subterfuge Radio is a Spanish-language podcast production company and network that produces original podcasts (e.g., Casa Cavestany, Pijas Marrones, Dios los riza, Ni tan malas, Simpatía por la industria musical), distributes them across major platforms (Spotify, Apple Podcasts, Amazon Music, Ivoox, Podimo, YouTube), and organizes live podcast events and the annual Estación Podcast Iberoamerican sound creation festival in Madrid, including talent development programs like Podcastón, Podstars, and Desafío Amazon Music.

Product overview

Subterfuge Radio is a Spanish-language podcast production company and radio platform offering a diverse portfolio of original podcasts and podcast network services. The core offering consists of Subterfuge Radio's original podcast programming including Casa Cavestany (foodcast), Pijas Marrones (cultural podcast), Dios los riza (pop culture analysis), Ni tan malas (film discussion), and Simpatía por la industria musical (music industry). The platform operates as a multi-product portfolio company that produces original content while also amplifying third-party podcasts through its distribution network. The flagship initiative is the Estación Podcast festival platform, which encompasses the annual Iberoamerican sound creation festival, the professional industry program (Estación Podcast PRO), the music component (Estación Podcast MUSIC), and talent development programs (Podcastón, Podstars, Desafío Amazon Music). The Madrid al Habla program provides a live podcast recording cycle, while El Club de las Perdedoras represents Subterfuge's commitment to LGTBIQ+ community voices. Content is distributed across major podcast platforms including Spotify, Apple Podcasts, Amazon Music, Ivoox, Podimo, and YouTube.

Differentiator

Problem solved

Functional benefit

Brands

• Casa Cavestany: Foodcast podcast hosted by Carlos Cavestany featuring guests over meals
• Pijas Marrones
• Ni tan malas
• Dios los riza
• Simpatía por la industria musical
• El Club de las Perdedoras
• Estación Podcast
• Madrid al Habla
• Discos con voz

Products and services

• Casa Cavestany

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Partnerships

Eleven partnerships are on record, tiered major, core and minor.

• Amazon MusicmajorGTM or Marketing Partner · 23 April 2026Partnership for Desafío Amazon Music competition, giving emerging podcasters opportunity for international exposure including promotion in Times Square, New York from June 19-25, 2026.
• Carné Joven Comunidad de MadridcoreGTM or Marketing PartnerCollaboration for Podcastón youth creation maraton targeting creators aged 16-30, providing free participation in fiction sound production during the Estación Podcast festival.
• Teatre El Musical, ValenciaminorChannel Partner/ Reseller/ DistributorVenue partnership for Estación Podcast Valencia edition featuring live podcast recordings at the theater.
• Palacio de la PrensamajorChannel Partner/ Reseller/ DistributorMain venue partner for Estación Podcast festival, hosting live podcast recordings and paid events.
• Espacio Cultural Serrería BelgacoreChannel Partner/ Reseller/ DistributorPrimary free venue for Estación Podcast festival, hosting main programming with free entry until capacity.
• Consejo de JuventudcoreGTM or Marketing PartnerPartner for youth talent development initiatives including Podcastón program for emerging creators.
• PodstarscoreStrategic or Co-development PartnerMonthly podcast cycle to discover and support emerging voices in podcasting, aiming to find the next big phenomenon in Spanish-language podcasts.
• PodimomajorChannel Partner/ Reseller/ DistributorPremium podcast platform distribution partner for exclusive content, with revenue sharing model.
• CentroCentrominorChannel Partner/ Reseller/ DistributorCultural venue partner hosting podcast events as part of the festival expansion across Madrid.
• Sala Galileo GalileiminorChannel Partner/ Reseller/ DistributorMusic venue partner for live podcast recordings and events.
• Sala ClamoresminorChannel Partner/ Reseller/ DistributorFlamenco venue hosting special podcast events including vermú sessions.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Podium Podcast (PRISA): Spanish-language podcast network and platform operated by PRISA, producing original narrative and entertainment podcasts. Direct competitor in the Spanish podcast-network category.
• Podimo: Premium Spanish-language (and European) podcast platform that both distributes and produces original podcasts. Subterfuge has an existing rev-share distribution partnership with Podimo, making it both a channel and a direct competitor for premium podcast audiences in Spain.
• iVoox: Spain's largest podcast directory and platform with original content and creator tools. Comparable as a Spanish-language podcast hosting and distribution platform where Subterfuge distributes its own content.
• Wondery: Global podcast network producing and licensing multi-genre original shows. Comparable business model of producing a portfolio of branded podcasts and monetising via advertising and platform deals.

Broad incumbents

• Cadena SER (PRISA Audio): Spain's leading radio broadcaster with a substantial podcast portfolio and production infrastructure via parent PRISA. Competes for Spanish-language spoken-word/audio advertising and audiences but as part of a much broader media portfolio.
• Spotify Studios (Spain): Spotify's owned-and-operated Spanish-language original podcast slate competes for the same listener and advertising dollars as Subterfuge, with vastly larger distribution and capital.
• Audible Spain: Amazon-owned premium audio platform producing original Spanish-language podcasts and audiobooks. Both a competitor for premium audio audiences and a sibling to Amazon Music (Subterfuge's existing partner).

Emerging players

• Cuonda: Iberian podcast hosting and analytics platform targeting business and professional creators. Adjacent infrastructure play with partial overlap in the Spanish/Portuguese podcast ecosystem.
• Storytel: Audiobook and podcast subscription platform with Spanish-language content. Comparable as a subscription-based premium audio platform competing for the same Spanish-speaking listener wallet as Subterfuge's Podimo offering.

Regional players

• Radio Ambulante Studios: Iberoamerican (US-Latin America) Spanish-language narrative podcast network. Comparable as a Spanish-language podcast network with multi-show portfolio and storytelling focus, though primarily US/LatAm rather than Spain-based.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CasaCavestany
• YouTubeyoutube.com/channel/UCQIoPhJvlaDkxPJPIdSky8Q
• Instagramz-p3.www.instagram.com/casacavestany/?hl=es
• LinkedInlinkedin.com/company/subterfuge-radio

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Subterfuge Radio