As part of a slew of updates to the streaming service’s way of operating, Spotify has now made it possible for podcasts to start charging a subscription fee.
As part of the new updated approach that has also seen a price increase for Spotify in general, any podcaster now operating via the sister app Anchor will now be able to set monthly price increases for users who wish to gain access to their podcast.
Spotify has also confirmed that it will not take a cut of the podcasters’ revenue until 2023, thereafter a 5% fee for access to the subscription system will be applied.
Paywalled content will also be housed on an Anchor link service as currently any downloads via the Apple App store results in Apple receiving a small hosting fee that Spotify now aim to avoid.
Spotify have followed in Apple’s footsteps on this occasion as they too are set to launch Apple Podcast Subscriptions as of May.
Spotify has stated that participating creators will receive 100% of their subscriber revenues, excluding payment transaction fees up until the 5% rule in 2023. In contrast, Apple will charge a 30% fee for a year that later drops to 15%.
According to CNBC, “[Spotify] will launch the feature with 12 different podcasters, including NPR, and will open up to more creators in the coming months.”