The days of podcasts being an audio-only medium are long gone. And Spotify knows it.
What happened: In a bid to keep up with the rising popularity of video pods and compete with YouTube, Spotify will soon offer premium subscribers in Canada ad-free podcast viewing and a payment model for podcasters who upload video content to the platform.
- Spotify expects to attract more video content by paying more than YouTube on a per-view basis, though only podcasters who meet a certain view count will be eligible.
- The move follows other changes it made this year to promote video podcasting, like making it easier for all creators to upload videos and adding a desktop video mini-player.
Why it matters: Spotify is no longer the undisputed top dog for podcasts. YouTube overtook it as the most-listened-to podcast platform in the U.S. last month as more users want to see their favourite hosts chatting, be it on their phones or their TVs while settled in on the couch.
In Canada: Spotify told The Peak that Canada is its fourth-largest podcast market, and that it’s already seen 77% year-over-year growth for Canadian creators uploading video content plus a 30% year-over-year increase in monthly Canadian listens for video podcasts.—QH