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gR lB Spotify fuels podcast fever - The Times Hub

Spotify fuels podcast fever

Spotify fuels podcast fever

Spotify announces ambitious new plans to nurture its commitment to the podcast industryNurPhoto / NurPhoto via Getty Images

Spotify is no longer just music. The company It has been betting big on the podcast for several years, an industry that grows more and more and that only in the United States has 104 million monthly listeners, according to the latest report by Edison Infinite Dial . This year will not be the exception. Spotify has revealed an ambitious plan to promote and revolutionize the podcasts of its platform with improvements in audio quality, audiovisual implementations through strategic alliances, new programs with the likes of Bruce Springsteen and Barack Obama, Joe Rogan or Kim Kardashian and a mega expansion to African, Asian and Latin American markets.

The company revealed during its Stream On exhibition event that things are serious. Spotify will work with WordPress – a popular content management and page creation system – to translate the written content of the blogs that want it directly into podcasts through its authoring platform, Anchor . This will allow users to convert their written web posts into audio content and market them as podcasts within Spotify. Additionally, in the coming months, Anchor will allow creators to add videos to their audios, a feature that is currently only available to music artists, and will also launch interactivity tools between creators and their audiences, such as polls and Q&A features for That users can interact and provide feedback to podcasts.

One of the biggest news is the expansion to other continents and countries. "We are embarking on a radical expansion that will introduce the world's most popular audio streaming subscription service available to more than 1 billion people in more than 80 new markets around the world, with 36 languages added to our platform." the company has explained in a statement about Stream On . Among the new markets there are African, Asian, Latin American and Caribbean countries, such as: Angola, Belize, Cameroon, Haiti, Jamaica, Kenya, Mongolia, Nepal, Pakistan, Senegal, Trinidad and Tobago, among others. “By reaching more countries in Asia, Africa, the Caribbean, Europe and Latin America, we are giving millions of new creators the opportunity to create, discover and build a career in audio creation, and we are providing the opportunity to billions of new fans to hear it. ”

Safe bet?

Is podcasting a trend with an expiration date? Not necessarily. It's no secret that Spotify is looking to make podcasts the most important focus of its application going forward. And is not for less. The company has tripled the number of podcasts on its platform and its offering has increased from 700,000 podcasts in 2019 to 2.2 million today. A survey published earlier this month by data and statistics site Statista reveals that Spotify was the number one provider of podcasts during 2020, with a 31% market share, ahead of Apple Podcasts (22%), Pandora (13%) and iHeartRadio (11%), its main competitors. In addition, the hours of podcast consumption have doubled since 2019, according to the Axios media .

Thus, the podcast phenomenon has reached all parts of the globe. In the United States, podcasts have grown steadily in recent years. 55% of Americans listened to at least one in 2020, up from 51% in 2019, and the trend is expected to skyrocket in the next few years. The 2019 Reuters Institute Digital News Report revealed that South Korea, Spain, Ireland and Sweden top the list of countries with the highest number of podcast users, followed by the United States, Italy, Canada and Australia. that the value of the advertising investments in podcast format reaches 207 million euros in 2023 . This would be a huge increase compared to the ad spend in 2019, which amounts to 38.6 million euros. With data and technology on its side, Spotify seems like a safe bet for an industry that already dominates and leads. For now

The Obama / Springsteen boom

Spotify has bet on celebrities in its podcasts. Therefore, listeners can listen to one of his star programs that has been released a few days ago on his platform. This is “Renegades: Born in the USA”, a podcast that unites former US President Barack Obama and musical star Bruce Springsteen and transmits their personal and intimate conversations. "President Barack Obama and Bruce Springsteen first met in 2008. Although the two have very different backgrounds and careers, they formed a deep friendship," Spotify says in a statement. The eight-episode series was announced during the "Stream On ”from Spotify and is the second podcast to be released through Spotify's partnership with Obama and Michelle Obama's Higher Ground. Throughout the season, Obama and Springsteen will explore issues of race, parenthood, marriage, and the future of America. The first two episodes are available exclusively to the hundreds of millions of free Spotify users and partners around the world now.

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