Spotify has announced new paid subscription options to help creators monetize their podcasts.
As more and more podcasters create content on its platform, Spotify has been working on helping them monetize their creations. Earlier this year, the streaming platform announced that it would be launching more podcast monetization options.
The options are now rolling out, and include Paid Subscriptions, Spotify’s Open Access Platform, and further access to the Spotify Audience Network.
The program is starting to roll out in the U.S. but will expand internationally within the next few months. The new monetization options will be made available to creators through Anchor, letting podcasters mark subscriber-only episodes and publish them to Spotify or other podcast streaming platforms.
Creators will get 100% of the revenues from subscriptions (minus the transaction fees) for the next two years. In 2023, Spotify will implement a “competitive 5% fee.”
Subscriber-only content on Spotify will be fully searchable and discoverable just like any other podcast, and this will certainly help with discovery.
The first podcasters to take part is a group of “12 independent podcasters who are each uniquely well-positioned to succeed in gaining meaningful revenue from their audiences,” but Spotify is also accepting submissions from its waitlist, expanding the program to many more creators.
As part of the initial test, creators will publish subscriber-only bonus content within their podcast feeds.
In addition to the above, Spotify is also collaborating with NPR to publish some sponsor-free shows for paid subscribers. NPR shows are marked as “Plus” (i.e., Planet Money Plus) and users can subscribe to sponsor-free content from NPR. Five of these shows will be available on May 4:
More shows will be available within the next few weeks.
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Spotify is also working on helping creators or publishers who have subscribers to reach listeners on its platform. Through the Spotify Open Access Platform (OAP), any creators with existing subscribers can deliver paid content to their existing paid audiences on Spotify as well.
The company says that the technology is experimental right now, but we should get more information about it soon.
Last but not least, Spotify is opening up Spotify Audience Network – its audio ads marketplace – to a small group of independent creators who are using Anchor. This will help advertisers of all sizes to connect with listeners of their content.
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