The streaming platform initially announced it was testing Podcast Subscriptions in April to see if paid subscriber-only content would be successful on Spotify. In an announcement on Tuesday, however, Spotify said any podcaster now can use the app’s creation platform, Anchor, to create subscriber-only podcast episodes and begin making money. “In the testing period since [April], we’ve activated over 100 podcasts and found that shows across genres and content styles have a massive opportunity to build paying subscriber bases,” Spotify said in its announcement of Podcast Subscriptions. “Our model is built to maximize creator revenue and offer the widest possible reach so creators can grow their audiences and develop deep connections with listeners.” Spotify added that creators would receive 100% of podcast subscription revenue until 2023. After that time, Spotify will take a 5% cut on subscription revenue. Since Spotify has approximately 2.2 million podcasts on its platform, that’s a lot of opportunities for creators to make money. Podcasters also can choose between different price point options to charge their subscribers, and will have the ability to download a list of subscribers’ contact addresses so they can engage with their listeners even more. The broad rollout of Podcast Subscriptions is just one of the many ways Spotify has solidified itself as a significant force in the podcast space. In 2019, it acquired podcast companies Gimlet Media and Anchor, and has been rolling out new features to its Podcasts since, such as video podcasts. Spotify also has overtaken Apple this year in terms of overall podcast listeners. According to Insider Intelligence, 28.2 million people will listen to podcasts on Spotify monthly this year, compared with 28.0 million people using Apple Podcasts.
