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Spotify introduces a new revenue source for creators: the Spotify Partner Program. Through this program, creators can earn from both Premium video engagement and traditional advertising without interfering with an uninterrupted viewing experience for Premium subscribers.
Given that over 65% of its eligible shows have already joined this program, Spotify might rewrite podcasters' business models through its dual-revenue approach: combining earnings from Premium video engagement and traditional advertising. Today, the program is available to 640 million users - comprising 250 million subscribers - in the U.S., U.K., Canada, and Australia. Testimonials from leading podcast creators include Smart Money Happy Hour and Jim Harold, who give an overview of their positive experiences with the Spotify Partner Program.
Key points:
Dual revenue streams for creators: through Premium video engagement, plus ad inventory across all platforms.
Premium users enjoy an ad-free video experience but retain creator-baked sponsorships intact
Over 65% of the 100 eligible shows and networks have signed up since the announcement on November 13th.
Clips from podcasts also boast 33% better conversion rates against traditional previews for shows.
Currently, it is live in the major markets such as the US, UK, Canada, Australia, and New Zealand.
Why It Matters: Imagine Spotify coming out with a model for podcasters that combines Netflix's subscription-based content library and its original productions with YouTube's user-generated content and community engagement.
Where creators might only serve ads and make money based on the number of downloads, they can also start charging money directly through Premium subscribers when ad-free content is provided, adding to revenues from ad revenues coming from free users. In other words, podcasters can create many different ways to earn income so their business is much safer and more certain.
The Big Picture:
This is a major shift in how podcasts make money and could fundamentally change the industry. To podcasters, it's a more varied and secure stream of income that could make full-time podcasting a more viable option for more creators.
By including video in their podcasts, producers get access to detailed analytics and engagement metrics that can help them craft more focused, successful shows. For the industry as a whole, this could accelerate the shift toward video podcasting and set new standards for how creators get paid.
The 33% rise in conversion rates from clips offers a possible solution to one of podcasting's biggest problems: by improving discoverability through engaging clips, creators can extend their reach more effectively.
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