Reports after Apple announced it would launch its new podcast subscription service in May suggest Spotify will launch a similar service next week.
Spotify will unveil a similar podcast subscription feature next week, according to Sources in The Wall Street Journal, after Apple announced podcast subscriptions that allow podcast publishers to charge listeners a monthly fee to access their content.
Apple recently announced its podcast subscription system, which will be available in May. Pricing for each subscription will be determined by creators. In addition to an annual flat fee, the company will also cut creators’ subscription revenues by 30% in the first year and then by 15%.
Spotify will allow users to pay their favorite podcast creators to access extra features such as Apple’s Podcasts app, the WSJ said. Unlike Apple, Spotify will not make any cuts to creators’ revenues.
Podcast content was initially offered for free and a specific audience was created. With its new subscription system, companies are focusing on making podcast creators more qualified jobs by making money.