Spotify has just announced it will be dedicating $500 million (almost £400 million) the podcast section of the app.
Midia Research music analyst Zach Fuller explains that investing in podcasts helps diversify content on the app. “Going into podcasts, a longer form of content, allows Spotify to keep listeners for a longer period of time, which means they can earn more from advertisers, and advertisers will only be too happy to pay because they’re happy to have a new digital player that isn’t Google or Facebook,” he told the BBC.
We take a look at the podcasting industry growth in 2018 in the UK.
Infographic made by City News.