Creators will have new monetization options based on engagement for video podcasts starting in 2025. Some subscribers are finally getting ad-free streaming for this format.
Today marks the biggest update to podcasts on Spotify ever—including a new monetization program for video podcasts, improved analytics and audience growth tools, new ways to get your podcast discovered on Spotify, and an exciting evolution of the name and brand of our creator platform.
This is what Spotify says in Newsroom. To further fuel growth in the video podcast space, Spotify announced a major change for video podcast creators at the Now Playing Event in Los Angeles. Starting in January 2025, creators will be able to earn revenue based on engagement from paying users, while premium subscribers will be able to enjoy video content without commercial interruptions. In addition to the USA, the new model is aimed at the markets in Great Britain, Australia and Canada and shows the potential to position Spotify as a real alternative to YouTube. Maya ProhovnikVice President of Podcast Product, explained:
It’s a platform for both audio and video creators to grow, monetize, and manage content on Spotify.
Growth through increasing user numbers and record sales
Greater reach and record sales underline the importance of the new monetization program. In the third quarter of 2024 Spotify was able to increase its monthly active users by eleven percent to 640 million, and the number of paying subscribers grew by 12 percent to 252 million. An increase in sales of 19 percent to a total of four billion euros already indicates the relevance of Spotify Ads; Video podcast creators should now have an even fairer share in these.
(…)And they’ll get paid out by Spotify based on actual engagement, which is better for everyone. We’re really excited about this and think this will immediately translate to more audience growth and retention, as well as more revenue, for most video podcasters (…).
CEO Daniel Ek commented on these successes:
We’ve never been in a stronger position, thanks to the outstanding execution by our team. I’m incredibly proud of the way we’ve delivered and the progress we’ve made.
Spotify for Creators: Video formats on the road to success
The renaming of the creator portal Spotify for Podcasters to Spotify for Creators underlines the growing importance of video formats. Video podcast usage has increased eighty-eight percent over the past twelve months. Over 250 million users have already watched a video podcast. Creators now have access to a new dashboard where they can view analytics, schedule video uploads, and create short clips to increase engagement. The hub is primarily intended to promote the visibility and reach of creators.
Users can also easily share content on social media, such as Instagram and TikTok. A new comment feature also strengthens the bond between podcast hosts and users, as interactions can take place directly on the platform. Described in an interview with OnlineMarketing.de Saruul Krause-JentschHead of Video at Spotify, the relevance of video podcasts:
Video podcasts offer an additional dimension of interaction and create a richer experience for listeners, which increases engagement with the platform.
With these innovations, Spotify is significantly expanding its offering for video podcast creators and offering an attractive monetization alternative to the competition. Spotify did not announce when the new monetization option will be available in other regions such as Germany, but a roll-out in the coming months is obvious.
“Spotify wants to establish video podcasts as the new standard”:
Saruul Krause-Jentsch from Spotify in an interview
Source: onlinemarketing.de
