Spotify Pushing Podcasts As The Next Big Market

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Podcasts are popular for a lot of the same reasons music is popular. You can listen to them anywhere—while commuting to work, tidying up at home, walking the dog. – Spotify 

Since 2006 to 2018, podcasting has been experiencing a steady growth. It’s managed to grow by over 300% and doesn’t seem like is going to slow down anytime soon. About 73 million Americans consume various content off podcasts each month.

Daniel Ek, the co-founder of the freemium audio platform – Spotify – spoke about its enormous catalog and revealed that it features about 3.9 million artists, including podcasters. There are approximately 40,000 tracks that get uploaded to Spotify each day.

“We believe this engagement from artists, labels and publishers shows a strong sign that there’s an increased appetite for more marketplace tools and services” – Daniel Ek

Spotify, being the pioneer in everything digital audio and streaming, officially acquired Soundtrap – a subscription based remote recording studio – in 2017, and Gimlet Media and Anchor – podcast and distribution platforms – in Feb 2019.

Last week, Soundtrap, the Stockholm based subsidiary of Spotify, launched a feature called Soundtrap for Storytellers. It is a one-stop shop podcast focused platform that offers recording, remote interviewing along with video features, audio production, transcript publishing and an option to directly publish the content on Spotify. It’s available for use at $14.99 a month.

Spotify released a news statement on May 16, 2019, talking about the boom in the podcasting industry and the use for platforms like Anchor. Anchor works with a mission to “democratize audio” and it provides creators with all the tools they require to make, share and monetize their podcasts on the go.

The statement talks about the need for podcasters (seasoned and amateurs) to understand the need and method of storytelling, building a brand, streamlining content and thus connecting with the audience.

There’s no doubt that podcasting is expanding like crazy, and if you have a story to tell, someone out there is dying to hear it.

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