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Spotify wants to take on YouTube in podcasts. Here's how the platforms stack up.
- Spotify has launched a program to pay creators a cut of the subscription and ad revenue from their video podcasts if they meet certain requirements.
- Spotify has been investing in video creators with new tools and incentives and rebranding the podcast platform as Spotify for Creators.
- About 250 million of its 640 million users had viewed a video podcast, and one-third of its active US-based users still watch videos on the app each month.
- Spotify is investing in video podcasts to expand its reach and audiences. However, users experience and content discovery options are not as good as that of YouTube's.
- YouTube's podcast market share outstrips Spotify, with 31% of weekly podcast consumers selecting it for listening on a survey conducted by Cumulus Media and Signal Hill Insights.
- For podcast listeners, Spotify and YouTube's streaming services are looking more similar by the day but still have some key differences.
- Spotify gives podcasters a slightly smaller cut in a 50-50 split, whereas YouTube dishes out 55% of revenue generated from their videos to creators.
- Many Spotify-owned studios are creating bonus content exclusively for YouTube or going live on the platform following the demise of Spotify's live-audio features, Spotify Greenroom and Spotify Live.
- Spotify is focusing on listener loyalty to set itself apart. The platform is positioning itself as the place to build a sustainable following.
- Spotify's user-focused strategy may be weaker in terms of content discovery, but its focus on retention is seen as a way to attract and keep podcasters.
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