Apple Podcast Subscription Reportedly Coming, Sends Spotify Down 5%
According to The Information, Apple is planning a subscription service for podcasts.
The report says Apple “is discussing launching a new subscription service that would charge people to listen to podcasts, according to people familiar with the matter.”
A podcast subscription service from Apple would rival the likes of Spotify, SiriusXM and Amazon, as the iPhone maker would allow creators to increase revenue streams.
Last fall, it was rumoured Spotify was set to launch a podcast subscription service. Recently, the company has invested $800 million USD to acquire podcasting companies and also rights to shows such as The Joe Rogan Experience. News of Apple’s plans sent Spotify shares down 5% as of writing.
The story from The Information was corroborated by Bloomberg, noting this podcast subscription service is pegged for 2021. Apple plans to fund new podcast shows and also has discussed its plans with partners, say people familiar with the matter.
It’s unclear how much Apple would charge for a podcast subscription service, and how much customers are willing to pay extra for yet another service. Most likely, if a podcast subscription does emerge, it may be included in an Apple One bundle tier.