If you’ve seen this icon on the internet before, then you have come across an RSS feed.Īn RSS feed acts as a content-distribution tool and is often used by websites to distribute web content such as new articles, blogs, and podcasts. Podcasts are delivered through a technology called RSS (Rich Site Summary). It is important to understand the open podcast ecosystem before moving forward. Since then, Spotify has quickly ramped up the number of podcast titles available on its platform with increasing engagement every quarter. This is precisely what Spotify started doing in 2018. The quickest way for Spotify to enable this is to build a podcast streaming capability and stream all available podcasts through its music app. This means that Spotify needs its users to spend as much of their digital lives as possible in its walled garden. To serve relevant ads and, in return, increase its CPM for advertisers, Spotify needs to know its users intimately.
This represents a threat to Spotify’s ad-supported free product and a loss of ad-revenue from its free users (Spotify’s premium product is not affected by this because the subscription cost per user is fixed regardless of listening time). When consumers are not in Spotify’s app listening to music, they are listening to podcasts in a different app. Forecasts suggest that the number of podcast listeners will surpass 160 million in 2023 after increases of around 20 million each year. Podcasting is an increasingly popular pastime in the US, and there were an estimated 88 million podcast listeners in the country in 2019. By 2020, this figure had risen to 75 percent. According to Statista,īack in 2006, only 22 percent of the adult population in the United States was aware of podcasting. To understand this sudden shift in strategy, we need to understand the current state of the podcast industry. In this blog, I explore why Spotify is embarking on this journey, and the value Spotify can deliver in this space.
music) represents a significant shift in strategy. For Spotify to spend a considerable sum of money on a medium that is not its core business (i.e. Therefore, the concept of exclusivity does not exist in the vocabulary of podcast listeners nor podcast creators. The presence of this deal, let alone the magnitude, is rare for the podcast ecosystem, which is built on open principles i.e. This deal – reportedly worth over $100 million – is one of the most lucrative podcast deals. Earlier this year, when Spotify announced that “The Joe Rogan Experience” would stream exclusively on Spotify, it sent shockwaves throughout the podcast ecosystem.
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