The move comes a week after a similar announcement from Apple.
The audio giant will allow podcasts creators to charge a subscription fee on a per-episode basis through Anchor – the podcast creation platform that Spotify acquired in 2019. The audio giant is testing the paid feature with 12 podcasts creators before rolling it out to the masses.
Unlike Apple, Spotify will not ask creators for a cut until 2023, before a 5% fee is levied. In contrast, Apple will take a 30% cut from podcast subscriptions in the first year a listener subscribes and 15% in subsequent years.
eMarketer predicts Spotify is set to overtake Apple in total podcast listeners for the first time this year. Facebook, which also debuting a social audio platform like Clubhouse, announced a partnership with Spotify to let users stream directly from its website and app.
[2 minute read]