Spotify Tumbles Anew, Amazon Music Ventures to Podcasting
As if adding an insult to Spotify’s fresh cut from the launch of Apple One, Amazon today makes its podcasts free for listening to the US, the UK, Germany, and Japan markets. This will be available at the e-commerce giant’s Amazon Music venture.
The announcement sent another bearish ammunition to Spotify, resulting in a 1.2% fall along with the revelation. This dragged further to a series of bad lucks, closing the day with a 1.29% slash in total. It currently trades at $234.86 per share.
Since June, this is the Swedish firm’s lowest trading with a special mention to the $221 lowest per sharing price in morning trading.
The new offering will feature well-known content from popular podcast channels such as Radiolab, Planet Money, and Crime Junkie.
Some original creations will also frequent the podcast shows. Celebrity guests who are popular conversationalists DJ Khaled, Will Smith, including sportscaster Dan Patrick will act as hosts.
Amazon Music offers both paid and free, sometimes ad-supported options to access the service under the entertainment sector.
Amazon Prime customers get unlimited access to over two million songs advertisement free under their annual payment of $119.
Is Podcasting The Next Big Thing?
The Bezos-owned technology firm assured that their already extensive library would continue to grow. They project new additions to enter into force from time to time.
On the other hand, Spotify Premium lets users listen to its homegrown originals and acquired content under the monthly subscription that comes hand on hand with the music offering.
The firm invests heavily in making its podcast platform more attractive, acquiring four content creator companies: The Ringer, Gimlet Media, Anchor, and Parcast.
Some analysts are skeptical about podcasting’s income-generating power, while others believe in its long-term earning potential.
For the record, Spotify reportedly paid $100 million for the rights of The Joe Rogan Experience. Even with the show’s massive following, industry experts note that the firm may have to endure a long time waiting to get its ROI.
Meanwhile, the music streamer will weather a more competitive environment. With Apple Music bundles as Apple Inc.’s entertainment frontrunners at a considerably lower price than Spotify Premium’s monthly subscription.
