Spotify counters Apple with podcast subscriptions
Spotify has unveiled plans for podcast subscriptions, countering a similar initiative from Apple but offering a much better deal than its U.S. rival by allowing creators to keep all earnings for a restricted time.
The updated podcast platform for america, set to expand internationally in coming months, lets podcasters make episodes available only to subscribers.
Taking good thing about the tool will cost podcasters nothing for another 2 yrs, meaning they get all subscription revenue, Spotify said in a post.
Spotify planned to start charging a five percent cost for subscriptions starting in 2023.
"Our aim is to greatly help podcasters maximize their subscription audiences and grow them from their existing listener bases," Swedish-based Spotify said Tuesday.
The announcement comes as Apple is poised to include a subscription substitute for its pioneering podcasting service as it ramps up competition with Spotify.
Beginning in May, podcast fans all over the world should be able to join subscriptions for perks such as for example ad-free listening or exclusive content from creators, according to Apple.
Podcasters will receive 70 percent of subscription earnings in the first year, with Apple keeping the rest as a commission.
Once a subscriber has been subscribed for a year, the share for creators will rise to 85 percent, they added.
The subscription feature posseses an overhaul of the Apple Podcast platform that lays credit to kicking off the trend using its launch 15 years back.
Industry tracker eMarketer last month said that Spotify has been growing quickly and that its podcasting service is on the right track to have significantly more listeners in america than Apple Podcasts this year.
Spotify said that its subscription platform is kicking off with twelve creators along with a collaboration with non-profit media organization National Public Radio.
Source: japantoday.com
