Apple Plans to Bankroll Podcasts

Apple Plans to Bankroll Podcasts
Apple wants to fund podcasters who offer their shows exclusively via its podcasting platform.

(CCM) — Apple is planning to consolidate its leading position in the podcasting market by funding podcasts which will be made available exclusively on its podcasting platform, according to a Bloomberg report.

The move is designed to put pressure on its closest podcasting competitors, including Spotify and Stitcher, according to the report, and it echoes the strategies of the likes of Netflix and Amazon who have invested millions in video content to promote their video streaming services. Spotify has also spent significant amounts funding podcasts by the likes of comedian Amy Schumer, journalist Jemele Hill, and hip-hop artist Joe Budden, the report points out.

The Apple Podcast app is responsible for between 50 per cent and 70 per cent of listeners to most podcasts, according to the report, so podcasters who choose to accept Apple's cash in return for exclusivity would likely not harm their overall listener numbers catastrophically. And if Apple's strategy of boosting its platform succeeds then the loss of listeners would be even less significant.

Apple has also been working to boost its podcasting platform in recent years by upgrading the iOS Podcasts app, launching a new Podcasts app for MacOS and for the web, and offering new tools such as Podcast Analytics for podcasters makers to use.

Image: © Apple.