International: Apple Considering Launch of Premium Podcast Service, Reports Say
Tech giant Apple is reportedly considering launching a premium podcast plan; this is according to reports by The Information and Bloomberg. The company is said to be in talks with production companies about this potential service.
With the advent of global pandemic COVID-19 and countries worldwide going on lockdown, this has allowed many people to adapt and discover new forms of technologies. Podcasts have been one of the most popular forms of consuming information and being entertained during these challenging times. Companies like Spotify have taken advantage of this gap, and it now looks like Apple also wants a piece of the pie.
This new venture by Apple is no surprise to many, given the fact that even the word podcast which was first coined in 2004 originates from a combination of "iPod" and "broadcast", this stemming from overwhelmingly popularity of the top-selling mp3 player of the time, Apple's iPod. Given all that information, it makes sense that it's interested in creating a premium service. Apple moved into podcast production last year with an interview series featuring Apple Music radio host Zane Lowe, thus far, the company hasn't tried to monetize its podcasting platform.
By charging users to listen to shows, the premium podcast service could allow creators to make more money, which could help Apple attract podcast makers and bolster the tech company's services revenue. This move could also threaten fast-moving players in the podcasting industry like Amazon and Spotify.
Both companies have made advances to gain more control of the market through acquisitions and exclusive contracts. Spotify has spent close to $900 million acquiring podcast production and technology companies in the past two years. It has also spent millions on exclusive rights to shows from celebrities such as Kim Kardashian and TikTok star Addison Rae.
Two of its most popular programs are comedian Joe Rogan's The Joe Rogan Experience and The Michelle Obama Podcast. It now expects new shows from Prince Harry and his wife, Meghan Markle.