Spotify is launching a new monetization program through a paid podcast subscription plan and a new Open Access Platform (OAP) for creators. OAP will “let your listeners hear your content on Spotify using your existing login system” and allow you to deliver paid content to your already-existing subscriber base using Spotify.
These features are initially available in the US, but will arrive in new territories in the coming months.
As the rumors hinted at some months ago, Spotify’s podcast subscription plan has arrived. Starting this Tuesday, 12 podcasters that have their programs on Anchor will have access to the Spotify subscription plan. This includes ‘Mindful in Minutes’ and ‘Big Changes‘, which offer additional content to which only subscribers will have access.
For the next two years, this program will be at no cost to the creator. Which means that they will receive 100% of the income from their subscribers. Starting in 2023, we plan to introduce a competitive rate of 5% to access this tool.Spotify release
Spotify’s Paid Podcast Subscription
Podcasters will be able to choose which programs will be only for subscribers from Anchor and will be able to choose between 3 subscription plans for $2.99, $4.99, or $7.99 per month. Serving as a similar setup to YouTube or Patreon subscription offers, they allow content creators to offer different types of subscriptions with a variety of benefits.
Subscriber-exclusive audios will be searchable within the streaming service and will even be recommended in a show’s main feed. It will be marked with a lock icon on the play button. The company says that by allowing this type of exclusive content, its goal is to help maximize subscription audiences and grow them from its existing listener base.
For now, none of the original Spotify podcasts will be part of the subscription plan. This means that users can continue to enjoy any of those shows at no cost. However, they mentioned that later, they probably will include several chapters of the Spotify originals within the plan.
A couple of years ago, Spotify stressed the importance of podcasts for the platform with the purchase of MEGAPHONE for $235 million. This also came with the announcement of original and exclusive podcasts with celebrities such as Pardcast, Barack and Michelle Obama, Joe Rogan, Prince Harry, and Meghan Markle.