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The new, “efficient” Spotify has a very different approach to podcasting

Oct 25, 2023 - theverge.com
Spotify is shifting its podcasting strategy towards AI and scaling tools rather than original content, as it aims to turn a profit. The company's executives highlighted the role of efficiency in their plans, with CEO Daniel Ek pointing to Spotify's new AI-driven translation product as a way to scale podcasts and reduce costs for advertisers. However, the company's future licensing deals with big-name talent remain uncertain.

In other news, Amazon-owned Wondery is set to make many of its podcasts available on three new channels on Freevee, an ad-supported video streaming service also owned by Amazon. Meanwhile, PodBam has released a list of the 40 most-searched podcasts, with 'The Joe Rogan Experience' topping the list with an average of 135,000 monthly Google searches.

Key takeaways:

  • Spotify is shifting its focus from original content to AI tools to scale its podcasting business. The company's new AI-driven translation product is expected to help scale podcasts and increase content in non-English speaking markets.
  • Spotify's CFO Paul Vogel stated that podcasting, which was previously a drag on profit margins, will soon break even and turn towards profitability.
  • Wondery, owned by Amazon, plans to make many of its podcasts available on three new channels on Freevee, an ad-supported video streaming service also owned by Amazon.
  • PodBam released a list of the 40 most-searched podcasts, with "The Joe Rogan Experience" topping the list with an average of 135,000 monthly searches on Google.
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