TWO CAN PLAY AT THAT GAME
Spotify announced Tuesday that it will launch a paid subscription service for podcasters, allowing hosts to monetize their shows and letting the company compete with Apple’s premium podcast library.
Variety reported that Spotify will allow creators to host their podcasts on the platform with subscription fees for two years without charging them anything to host the shows; beginning in 2023, the platform will take a 5 percent cut of all subscriber revenue.
Premium podcasts will be available through the platform through three payment tiers, according to Variety, at $2.99, $4.99 or $7.99 per month.
The announcement comes a week after Apple announced that it was launching its own “global marketplace” for premium, subscription-only podcasts.