28 April 2021
Spotify is ready to roll out its own podcast subscription as per a new WSJ report. It is reported that the podcast subscription service will officially debut next week and is aimed to be an Apple rival. The Cupertino-based tech giant unveiled its revamped Podcast application with a subscription model at last week's Spring Loaded event.
In an effort to defeat Apple, Spotify is even ready to let go of the revenue that it would have made. It is reported that Spotify will not be taking any cut from creators who will be a part of its podcast subscription. This is opposite to what content-sharing platforms usually do. All popular platforms do take some cut from creators' revenue and share the remaining portion with them.
Apple has announced that it will be taking a 30% cut from all the creators who will offer a podcast subscription on its platform. The new app will become available with the release of the iOS 14.5 public version. It is expected to arrive anytime during this week, most likely by the end of Tuesday.
It is important to note that podcast subscription models will not cover all the podcasts. The creators will still be able to share podcast episodes for free of cost. They will most likely release special content like bonus episodes in exchange for the subscription fee to help earn revenue while doing what they love to do.