Spotify has committed $100 million to attract more podcasters as video podcasting gains popularity, challenging YouTube's dominance. As of now, Spotify boasts 170 million monthly podcast listeners and has seen a 40% increase in video consumption since launching its payout program, aimed to incentivize content creators. The program, which also involves sharing advertising revenue, has proved successful for creators like YMH Studios, which reported a tripling of quarterly revenue after joining the initiative. This strategic move aims to position Spotify as a competitive alternative to YouTube for podcast creators.
In a bid to bring more podcasters into its stable, Spotify has reportedly paid them $100 million since January.
Eligible content creators will be given incentives to upload videos, earning additional money based on how much premium subscribers engage with those videos.
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