Spotify is expanding paid podcast subscriptions to all US creators as a means of monetizing more content. Since its launch with a dozen indie publishers in the Spring, the premium option has been activated on 100 podcasts, according to the Sweden-based streaming service. On September 15th, subscriber-only content will be made available to international listeners. While overseas creators will have to wait a tad bit longer to get their hands on the monetization tools.
The program itself is available through Anchor, the podcast creation platform Spotify acquired alongside podcast network Gimlet for just shy of $340 million in 2019. The company has billed the service as a win-win for its entire user base, giving publishers the chance to reap subscription fees with no commission (for the first two years) from avid listeners. Spotify will start taking a cut of 5 percent in 2023. Comparatively, Apple charges a $20 annual fee for its program and takes a 30 percent cut of subscriptions for the first year and 15 percent thereafter.
Based on learnings from its test period, Spotify is introducing 20 new pricing options for podcasts to offer creators more flexibility. It's also allowing publishers to download a list of contact addresses for their subscribers so they can better engage with them. That should help creators to further promote their content using email marketing and notifications.Continue Reading