Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Spotify Falls as Paid Podcasts to Counter Apple Shows Fight Ahead

Published 28/04/2021, 03:10 am
© Reuters.
AAPL
-
SPOT
-

By Dhirendra Tripathi

Investing.com – Spotify (NYSE:SPOT) shares were trading weaker by more than 2% as its launch of a paid subscription platform for podcasts to counter a similar service by Apple (NASDAQ:AAPL) reflected the competitive intensity the company faces.

Including today’s fall, Spotify shares are down 25% from their 52-week high of $387.19.

Podcasters will be able to mark episodes as subscriber-only and publish them on Spotify and other podcast listening platforms, the company said in a statement.

Spotify, the world's most popular paid music streaming service, said it won't take a commission from podcast creators' subscriber revenue for the next two years, and planned to charge a 5% fee starting in 2023.

Apple ceded the top spot to Spotify after pioneering podcasts but is now serious on reclaiming it. Towards that aim, it last week launched a paid subscription service which allows users to unlock new content and enjoy ad-free listening.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.