The latest addition to Spotify’s collection of acquired companies is Podz. Podz is a startup wielding a technology that generates preview clips of podcasts. Podz uses machine learning to automate the process of finding key moments from episodes and creating clips out of them. This makes a podcaster’s job much easier. Podz’s algorithm has been trained on over 100,000 hours of audio.
This acquisition, Spotify stated, aims at improving the existing podcast discovery methods. Now we as users/listeners would be able to browse short clips and decide which podcast to invest our time in. Spotify stated that the acquisition would enable them to make make it “easier for listeners to find the content they want to listen to, and for creators to be discovered and build a fan base.”
According to Podz, users on its platform typically follow up to 30 podcasts which is a massive upgrade from an average of just 7. Now that is some improvement and it was only wise of Spotify to have the tech.
This acquisition comes just days after Spotify announced its Podcast Subscription Service. This would allow select podcasters to charge users for access to their content. Spotify isn’t planning to take its 5 percent cut of subscription revenue until 2023. Eventually, Spotify will have a direct financial incentive. This will be by encouraging its listeners to find and subscribe to as many podcasts as possible. This is where Podz tech will be helpful. They want to be ready for the future as they’re now competing directly with Apple. Apple also launched its Podcasts’ in-app subscriptions last week.
Spotify has stated its plans to integrate Podz’s technology into its own platform. They have also stated that changes due to this integration should be visible before this year ends.