San Francisco– Music streaming giant Spotify is now rolling out its premium podcast feature to all creators based in the US, allowing them to charge up to $150 for a subscription.
The platform began testing a podcast subscription feature in April, shortly after Apple announced opening up its subscription service to all US podcasters.
Alongside the announcement, Spotify said that it will begin expanding the service to international markets starting on September 15, reports AppleInsider.
In an effort to lure content creators to the platform, Spotify is letting podcasters keep 100 per cent of subscription revenue — minus processing fees — until 2023. At that point, the streamer company will take a 5 per cent commission on revenue.
Spotify also said it is making a couple of changes to the program introduced in April, the report said.
For one, there are now additional pricing tiers for podcast subscriptions. Creators can also download a list of their subscribers’ contact addresses so they can communicate with them directly.
Apple debuted its own premium podcasting feature in June, just a couple of months after its announcement in April. It works similarly to the Spotify feature, allowing podcasters to create exclusive content for subscribers and earn additional revenue.
In contrast, however, Apple charges a standard 30 per cent fee on podcast revenue for the first year of a listener’s subscription. That drops to 15 per cent in the second year. Podcasters must also pay for a $19.99 a year Apple Podcasters Programme. (IANS)
