More than a decade ago, an audio blogging platform called podcast debuted. It rose to popularity alongside iPod. Now, Apple is reportedly mulling a new subscription service with podcast as the focus. Needless to say, there would be a subscription charge similar to that of Netflix.
In the recent past, Apple is working towards improving its presence when it comes to Podcasts. The Cupertino company wants to produce original content that will help them battle against Spotify, Amazon and other platforms. On the other hand, it is surprising that Apple is yet to monetize its Podcasts service. Apple already has a robust podcast distribution system across Mac and iOS. In other words, it will not be difficult for the company to build a Podcast Subscription service.
As we all know, Podcast market has exploded over the past several years. Several independent content creators run podcast channel with a vast user base. Meanwhile, Apple’s rivals, like Spotify and others, are capturing a good chunk of podcast market. In fact, the company has spent several hundred million dollars to acquire podcasting companies like Gimlet Media and in podcasts like The Joe Rogan Experience.
The Information reports Apple is in talks with production companies over a podcast service. Once launched, the service could be bundled with Apple Music, Apple Arcade, and offered via Apple One.
Podcast sure does seem to have a bright future with Spotify and Sirius XM investing in it. This year the ad revenue from Podcast is expected to surpass $1 billion. Furthermore, the number of podcast broadcaster is steadily on the rise, partly owing to inexpensive recording gear. We wonder whether people will be ready to pay for a podcast subscription.[via TheInformation]