Audio streaming service Spotify to launch podcast subscription service soon

Business Standard Audio streaming service Spotify to launch podcast subscription service soon

Audio streaming application Spotify is soon going to launch its podcast subscription service.

The platform would be competing with Apple's newly announced podcast subscription service but it will not charge a fee or take a membership cut like its rival.

As per Variety, the company will be letting content creators keep 100 per cent of the subscription fees. As per sources, Spotify will not take a cut of podcast subscription revenue.

By contrast, Apple will keep up to 30 per cent of podcast subscription fees under its program, which is launching next month. Most creator platforms, including YouTube, Twitch, Facebook and Patreon, also take a cut of subscription fees and/or fan payments.

Currently, Spotify doesn't allow customers to pay for subscriptions through Apple in-app purchases -- and Spotify has been a very vocal critic of Apple's App Store policies, which has included lodging a formal complaint with the European Union alleging anticompetitive behavior. Similarly, you won't be able to purchase Spotify podcast subscriptions through Apple.

Spotify has said it was going to test paid subscriptions for podcasters to allow them to offer exclusive content to subscribers, officially announcing that during its February 'Stream On' event. But it has not yet provided details on how that will work.

It is worth noting that Spotify has been expanding its podcast platform by signing major deals with personalities like the Obamas, Prince Harry and Meghan Markle, and most recently, Bruce Springsteen.

It has also signed podcast deals with Warner Bros, Hollywood producer Chernin, and Archie Comics.

Meanwhile, in conjunction with Spotify's podcast subscription rollout, Facebook plans to launch an integrated version of Spotify's audio player, a service called 'Project Boombox'.

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