Apple is planning a new podcast subscription service that would go head-to-head against Spotify. Unlike its existing Podcasts app and directory, the new subscription service will be paid and will contain premium programming by acquiring exclusive rights to various podcasts.
Spotify has already been gaining exclusive rights to podcasts such as The Joe Rogan Experience, which is one of the most popular podcasts in the world and is enough to lure new users to its subscription service. Other companies like SiriusXM and Amazon are also competing in the podcast subscription arena.
Apple’s podcast subscription service is in development
Bloomberg had reported last year that Apple was working on its original podcasts which would complement Apple TV+ programs, but also standalone content that could later be adapted into future Apple TV+ content. Since then, Spotify has secured exclusive rights to several original podcasts and even purchased various podcasting services that had original content. The company has spent almost $800 million on its original programming.
As Apple continues to expand its foray into services, podcast subscription seems to be the next logical step. As per The Information, Apple has been in touch with various companies and partners, under an NDA, to plan its launch for the subscription service and fund original podcasts. If plans go through, Apple could introduce its podcast subscription as part of its Apple One subscription plans.
It is unclear if Apple will actually go through with its plans to launch the service. It has been in the planning stage since last year when the company was looking to hire an executive to lead the development. Apple already has a massive reach thanks to its popular podcast app and directory and could use it as a base to puts its subscriptions and exclusive content offerings.
Apple was previously competing with Sony to acquire podcasts app Wondery for $300 million, but the app ended up getting acquired by Amazon instead. Before that, Apple had purchased podcast app ‘Scout FM’ for radio-like podcasts.