In the month since Spotify announced plans to spend up to $500 million on podcasting, it’s homed in on exclusive content plans, hinted at ongoing work to improve discovery, and broadly started to construct a picture of how it views the future of podcasts. Also what would it be like to be able to discover new music and podcasts that you are guaranteed to enjoy.
Spotify spotted testing ‘Your Daily Drive,’ a personalized playlist that includes podcasts. Spotify knows podcasts can generate ad revenue — podcasts are estimated to bring in $659 million in revenue by 2020 — and it’s willing to invest in exclusive content to make sure that people listen on its platform. Still, the team has a lot of work to do to bring podcasts to the masses and make Spotify the default listening app. Here’s where the company is starting.
FIXING DISCOVERY AND MAKING “USER EXPERIENCE” A PRIORITY: Spotify thinks helping people find their new favorite podcast could be the key to its success. One of the podcasting business’s biggest hurdles is discovery. Helping a listener find a new show that they’re guaranteed to like is difficult, and no company has made a recommendation algorithm as successful for podcasts as Netflix has made for movies and TV.--- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
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