Spotify propelled on Tuesday its podcast subscription service in the U.S., giving makers more range in how they decide to bring in cash. The move comes only one week in the wake of streaming adversary Apple declared its own subscription podcast offering.
Podcast monetization has been tricky for streaming organizations to acknowledge since it’s been hard to gauge the profit from investment in podcast advertising. Be that as it may, more players have been putting weight behind the effort. Spotify, for example, has put vigorously into its technology with its “Streaming Ad Insertion” tool and $235 million acquisition of ad tech organization Megaphone.
Spotify’s new subscription include is powered through Anchor, its maker platform. That will permit podcasters to mark episodes as subscriber-only and put them on Spotify and different platforms, the organization said.
With an end goal to attract more makers to the platform, Spotify isn’t taking subscription income cut for the following two years. The organization said taking part makers will get 100% of their subscriber incomes, excluding payment transaction fees. Beginning in 2023, the organization will charge a 5% fee for the tool. Apple, then again, requires a 30% cut the first year and will at that point drop the charge to 15% in the second year.
The organization will launch the feature with 12 different podcasters, including NPR, and will open up to more makers in the coming months.