Nov 14, 2024 04:44 PM IST
Spotify will soon start sharing revenue with creators based on how much their videos are viewed, in a move to take on YouTube’s video podcast dominance
Spotify will soon start sharing revenue with creators based on how much their videos are viewed, in a move to take on YouTube’s video podcast dominance, according to a Business Insider report.
A cut of subscription earnings and video ad revenue will be shared with creators, starting from January 2025 in the US, Canada, the UK, and Australia.
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The payments would be calculated based on how much views the podcast got, according to the report which added that the rates have still not been disclosed yet.
In order to qualify for this, creators must upload and host content through Spotify, have 10,000 streamed hours from 2,000 unique users in the previous 30 days, and have at least 12 episodes published, the report read.
“By giving you guys, the creators, another path to monetization beyond ads, we’re freeing you up to do what you like doing, which is creating,” the report quoted Spotify CEO Daniel Ek as saying to a crowd of creators and industry professionals at the company’s Now Playing event held on Wednesday at Spotify’s Los Angeles campus.
This comes as an attempt to woo creators from other platforms like YouTube. An April survey conducted by Cumulus Media and Signal Hill Insights found 31% of weekly podcast listeners who responded to the survey used YouTube the most for podcast listening, followed by Spotify at 21%, and Apple Podcasts at 12%, according to the report.
Apart from this, Spotify also announced it would no longer play ads on video podcasts for premium subscribers for driving up video consumption.
However, the creators themselves can still have their own host-read ads within their podcasts.
Spotify is also rolling out a new mobile app experience with creator analytics and monetization, along with other features like podcast clips, which creators can use to promote episodes through vertical short-form video clips.
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