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Spotify Retaliates With New Podcast Launch Following Apple's Recent Monetizing Move

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Spotify Retaliates With New Podcast Launch Following Apple's Recent Monetizing Move
  • Spotify Technology SA (NYSE: SPOT) launched a feature enabling podcaster to mark subscriber-only episodes, following Apple Inc’s (NASDAQ: AAPL) similar talent-attracting move, Bloomberg reports.
  • Users would be entitled to 100% revenue retention over the next two years, with a 5% fee from 2023.
  • The option will be initially available in the U.S., followed by the other countries in the upcoming months.
  • Spotify also launched an open-access platform for sharing third-party podcast content.
  • Spotify’s new ad marketplace, called the Spotify Audience Network, helped customers seek advertisers for their shows.
  • Apple launched a subscription platform to provide creators with the tools required for podcast subscriptions at a monthly $19.99, Reuters reports.
  • Spotify selected twelve independent podcasters for subscriber-only bonus content publishing in their existing podcast feeds and aimed to expand the program to more creators over the coming months. National Public Radio (NPR) will publish five ad-free shows for paid subscribers from May 4.
  • Spotify invested over half a billion dollars in acquiring podcast networks Gimlet and Anchor and podcast ad company Megaphone.
  • The new subscription tool was built using Anchor’s platform.
  • Apple recently intensified the competition by allowing podcasters to charge for their programs on its app for a 30% fee in a bid to extract more revenue out of its services.
  • Apple is also set to face a European Union antitrust complaint from Spotify over Apple’s biased App Store rules.
  • Price action: SPOT shares traded lower by 1.18% at $294.5 on the last check Tuesday.
 

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