A few days back, Apple introduced a way for creators to offer subscriptions through its podcast app.
Now, Swedish audio streaming provider, Spotify is following suit with the launch of a paid subscription platform for podcasters that gives them maximised revenue, wider reach, and discoverability.
Initially, the program will be rolled out in the United States and will expand internationally in the coming months.
This new subscription model allows podcast creators to charge fans extra for exclusive content via its podcast production platform, Anchor.
“Our aim is to help podcasters maximize their subscription audiences and grow them from their existing listener bases.” says Spotify
As per the company’s statement, a podcaster could mark episodes as subscribers-only and publish them on Spotify and podcast listening platforms. Also, the content will be searchable and discoverable like any other podcast episode within Spotify.
No cut for two years
Spotify says it won’t take a cut from these creators for two years, excluding payment transaction fees. Starting in 2023, the company will charge a fee of 5 per cent for the tool.
On the other hand, the Cupertino giant announced that it will take a 30 per cent cut the first year and will then drop the fee to 15 per cent in the second year.
Starting with 12 podcasters
Spotify has selected 12 different podcasters to publish subscriber-only bonus content in their existing podcast feeds. The company will also expand the programme to more creators over the upcoming months.
“Starting now, we’re also going to begin accepting submissions from our waitlist, effectively expanding the program to more creators and the rest of the world over the coming months,” says Spotify.
Collaboration with NPR
Further, the Swedish company has collaborated with National Public Radio (NPR) to publish five ad-free shows for paid subscribers starting from May 4.
The shows include – How I Built This with Guy Raz, Short Wave, It’s Been a Minute with Sam Sanders, Code Switch, and Planet Money—with more to come in the following weeks.
Spotify, in its official blog, says, “This subscriber-only content will be fully searchable and discoverable within the Spotify app, and even show up within a show’s main feed—shows will be marked with a lock icon on the play button. Listeners will be able to tune in knowing that their subscriptions are going directly to the podcasters they love, giving independent creators a revenue stream on their terms.”