Spotify on Tuesday launched a paid podcast feature on its streaming platform. The service will be free for the next two years, after which the app will take cuts in 2023. Know more about the app here.
Spotify Launches New Paid Podcast Feature
Spotify launched its brand-new paid podcast feature on Saturday. It has opened its service to all the users who create podcasts via the Anchor app. The service is free for the next two years. However, the company will start taking a small cut in 2023. It was speculated that Spotify might launch paid podcast feature in the near future. Although, the announcement came soon after when Apple launched its paid podcast feature in Apple’s Spring Launch 2021.
More Details on the Latest Feature
Spotify mentioned that the paid podcast feature will be managed by the Anchor app. So, any creator who wants to participate will have to mark an episode as “subscriber-only”. This will publish their podcast directly to Spotify or any other platform. However, creators don’t have to pay a single penny for benefiting the feature for the next two years. Most probably, by 2023, Spotify will collect a 5 percent competitive fee. That’s significantly less than what Apple is charging.
Its new feature demands 15 to 20 percent of the revenue. Three options will be given to the podcasters, $2.99, $4.99, and $7.99. Users can avail of the paid-only podcast feature, in order to access exclusive podcast channels. Moreover, users can subscribe to their favorite podcasters via the Anchor app only. Twelve shows including Tiny Leaps, Big Changes, and Mindful in Minutes will offer bonus subscriber-only content. A waiting list will be opened for the podcasters in which they can sign up.
Other Recent Features Launched by Spotify
Besides paid-podcast, the company has also launched, “Spotify Audience Network” for ads. This feature allows the creators to insert advertisements and commercials in the podcast. Creators can access this feature starting next month. One major advantage of the company will be the capability to reach Android users with paid podcasts service. The last feature announced by the company was the arrival of the Spotify Open Access Platform. It allowed the creators to share their content with users of other platforms as well. However, with the arrival of the new paid podcast feature, for the first time, Spotify is allowing podcasters on its platform to offer subscriptions to their shows.