Spotify eyes to make its podcast service more profitable

Spotify will soon be launching a subscription podcast service that will offer users access to original shows or exclusive episodes for a monthly fee. A recent survey conducted by the sources concludes that at least four subscription podcast plans were famous among users.

The projects ranged from $3 to $8 per month. The cheapest of the projects will include “access to exclusive interviews and episodes” but will come with ads. On the other hand, the most expensive plan will consist of access to “high-quality original content” and early access to some episodes. The subscription will not insert ads for users.

A spokesperson stated, “At Spotify, we routinely conduct several surveys to improve our user experience. Some of those end up paving the path for our broader user experience, and others serve only as important learnings. We have no further news to share on plans at this time.”

Looks like the premium podcast plan would be ad-free and some mix of exclusive extra content at price points somewhere between $3-$8. pic.twitter.com/ArK8xYg0CM

— Andrew Wallenstein (@awallenstein) November 6, 2020

- Advertisement -

Sources claim that there’s no guarantee, Spotify will follow through with launching any of the described services. Podcasts offer a lucrative opportunity for the Swedish media streaming firm. The company doesn’t have to pay licensing fees to stream the podcasts. And it can still make money on subscriptions and app-inserted ads during their playtime.

As such, the company has been making significant investments in podcasting over the past two years. It even acquired several major podcast producers, including Gimlet, Parcast, and The Ringer. The firm even signed exclusive podcast deals with Michelle Obama, Kim Kardashian West, and Joe Rogan.

As to whether Spotify can make money based on podcasts alone remains to be seen. But the effort and investment that the company is putting behind its podcast feature make the future of its podcasts service something to keep an eye on.

Source

Do check out:

- Advertisement -