Spotify Retaliates With New Podcast Launch Following Apple's Recent Monetizing Move

Spotify Technology SA SPOT launched a feature enabling podcaster to mark subscriber-only episodes, following Apple Inc’s AAPL similar talent-attracting move, Bloomberg reports.
Users would be entitled to 100% revenue retention over the next two years, with a 5% fee from 2023.
The option will be initially available in the U.S., followed by the other countries in the upcoming months.
Spotify also launched an open-access platform for sharing third-party podcast content.
Spotify’s new ad marketplace, called the Spotify Audience Network, helped customers seek advertisers for their shows.
Apple launched a subscription platform to provide creators with the tools required for podcast subscriptions at a monthly $19.99, Reuters reports.
Spotify selected twelve independent podcasters for subscriber-only bonus content publishing in their existing podcast feeds and aimed to expand the program to more creators over the coming months. National Public Radio (NPR) will publish five ad-free shows for paid subscribers from May 4.
Spotify invested over half a billion dollars in acquiring podcast networks Gimlet and Anchor and podcast ad company Megaphone.
The new subscription tool was built using Anchor’s platform.
Apple recently intensified the competition by allowing podcasters to charge for their programs on its app for a 30% fee in a bid to extract more revenue out of its services.
Apple is also set to face a European Union antitrust complaint from Spotify over Apple’s biased App Store rules.
Price action: SPOT shares traded lower by 1.18% at $294.5 on the last check Tuesday.