The music streaming segment is growing rapidly. Several tech companies are venturing into the market as they see the potential for growth in the coming years. Spotify is now planning to launch paid subscription podcasts to Apple. Spotify is a Swedish music streaming company. It claims to be is the biggest music streaming platform in the world in terms of subscribers. Spotify said that it will soon announce the new offering. Spotify’s decision comes after Apple announced the launch of paid subscription podcasts. The company said that its offering will be different from that of Apple. The company said that it will not take revenue cut like Apple.
Spotify is also likely to allow options for creators to decide their pricing. Once the service becomes available, Spotify users on the iOS app will require paying for a subscription. It could be paid online via a website. It means that Apple will be denied the customary share of transactions made via the App Store. In other words, Apple will not be able to take a revenue cut. In general, Apple takes revenue cut with other in-app purchases. On the other hand, subscribers of Apple Podcasts can sign up for premium subscriptions. The subscription will begin in May. Those opting for premium subscriptions will get multiple benefits. They will be able to get advertisement-free listening. They can also access additional content. Besides, they will have an option for early and exclusive access to new content.
Spotify’s plan shows how it is planning to compete with Apple in podcasts. While the subscription of Apple Podcast will begin in May, there are no words from Spotify regarding the launch date of its subscription. Both Spotify and Apple see a huge potential for expansion and want to dominate the market with a handsome command on the share. The world music streaming market is projected to reach USD 60 billion by 2026. Apple said that its podcasts subscriptions will provide an improved search tab for quick access to categories and other services. Apple said that its podcasters program is available in more than 170 countries to creators. The program is available for around USD 20 per year.
Carolyn is a technology graduate and loves to write about anything related to technology as well as writes in others sectors. Carolyn is a professional writer with over 7 years of experience. Initially starting off as a programmer, Carolyn decided to combine her knowledge about technology and writing and that’s how she joined Reporter Expert.