Spotify mark 2
Spotify is moving into the second major phase of its existence. While the company was initially all about creating a streaming music business, now Spotify is moving beyond playlists and pushing into podcasts, says Music Industry Blog.
Podcasts may just have come in the nick of time for Spotify because curated playlists remain much more about potential than they do about reality, the outfit says.
Following its recent acquisitions of Gimlet, Anchor and Parcast, Spotify is going big on podcasts. In early-adopter Sweden, podcast penetration is 19%, rising to 28% among streamers. Podcasts are a ‘Netflix moment for radio’ and may even have the potential to be bigger than streaming music, argues Music Industry Blog
“Right now, the growth in overall podcast audiences is fairly slow, but engagement is accelerating as are content creation, monetisation and distribution. It is not entirely inconceivable to think that five years from now, podcasts could be a bigger business for Spotify than music. “