Spotify ‘CEO Daniel Ek mentioned that they are looking for ways to help them earn money to encourage people who create podcast content on their platforms and want to play an important role at an event organized by the company.
Spotify aims to profit from podcast broadcasts
Ek spoke at the 90-minute event, which was attended by former US President Barack Obama as a co-host, and spoke about the company’s new top subscription system, Hi-Fi, and also touched upon podcasters. The CEO mentioned that podcasters are making attempts to engage with listeners and earn money through subscriptions, and that they aim to make podcasting a real source of income.
In the speech, Ek announced that approximately 7,500 musicians earn about 100,000 dollars a year through their platforms, saying that they share the same goals and that the service available in 93 countries is now taking steps to bring the contribution to musicians to the podcast.
In this way, Spotify is considering both supporting its own shows and hosting third-party programs. The idea, which seems like a long journey, will feature three different models to enable creators to make a profit. This business model will include one typical subscription model, the other the podcast ad market model, and the last one will include features such as musicians and podcasters selling products, tour tickets, and even subscriptions on their own content.