Who will pay for podcasts?
US podcast streaming platform Luminary is set to launch its paid-for service on 23 April. The rollout will test whether consumers are willing to pay for podcast content that they have previously enjoyed for free with advertising support.
Luminary will operate a – yes, you guessed it – Netflix-for-podcast model coming in at an un-Netflix-like $8 per month. All content will be exclusive to subscribers. And clearly while people have shown they will stump up for audiobooks, the real challenge here is to see if they are willing to shell out for what is, essentially, a general entertainment package.
The company isn’t alone in this space. Another US company, The Athletic, is looking to roll out a subs-based service for its sports coverage produced in-house. It plans to lean on its existing 300-strong team of sports reporters around the US and in Canada to produce local and national podcasts.
And after Spotify has spent significant sums acquiring podcasting production assets, it’s likely the music streamer will add premium content to its existing packages at some point, or even launch podcast-only subscriptions. Spotify says it is now positioned to become both “the premier producer of podcasts and the leading platform for podcast creators’.