More Than Music: How The Soundwaves of Spotify Just Deepened And How This Will Affect The Platform | OPINION

Editor’s Note: This article was written by Monica Moser.

Spotify’s push for podcasts that began early last year has been given another strategic shove.

In February of 2019, music industry publications, tech blogs and more started shedding light on what Spotify seemed to be trying to accomplish with their platform. Spotify announced the acquisition of Gimlet Media (a very notable podcast producer and network) and Anchor (a popular DIY production and distribution company for podcasters), AND said they planned to spend up to $500 million on podcasts. It was not a slow news month for the streaming service.

More recently, their takeover plans became more and more into focus. A few weeks ago the exclusive acquisition of Joe Rogan’s often-numer-one-in-the-world podcast was announced. Spotify knows how lucrative podcasts are in this day and age, and they have been planting more and more seeds to become the preferred platform for this insanely popular listening medium.

Here are some reasons why Spotify might accomplish its goal:

Discovery prowess.

Similar to how Netflix has perfected its recommendation algorithm to an insanely accurate degree, Spotify has been the superior music discovery platform for several years through its algorithmic playlists like Discover Weekly, Daily Mix, and its Radio feature. If any platform can improve the podcast user experience, signs seem point to Spotify.

Exclusives.

The Joe Rogan deal is huge and will set a precedent. This podcast is often ranked #1 in the world. The exclusive deal will force his millions of listeners to use Spotify, and the hope is of course that they’ll also begin to listen to all their podcasts on the platform.

Podcasters For Artists.

One of the best resources Spotify offers its artists is the Spotify For Artists portal. Here artists can evaluate how many playlists they’ve secured, how many listeners those playlists are bringing in, they can easily update their profile, submit their music for editorial placement, and more. Well, Spotify has Podcasters For Artists set up for its hosts.

While you can certainly access data & analytics for your podcast via Apple, this tool seems to be more nuanced and more easily accessible. Plus, artists on Spotify who are also podcast hosts will already be familiar with it. This could be a leg up as well.

Ad money.

Podcast advertising revenue is predicted to rake in more than $1 billion in 2021 according to eMarketer. Spotify seems to be hoping that with the Joe Rogan deal (and others that are sure to follow) these listeners will create a huge inventory for ad business.

Spotify still trails the lead, but it’s catching up. Not only quickly, but strategically.

What does this mean for artists on Spotify?

More listening content on the platform means more to choose from. You’re already competing with 40,000+ tracks being uploaded to the platform daily. Now you have to compete with podcasts too? Will podcasts reduce streams for artists?

It’s possible.

But more users on the platform also means more ears in general. More paid subscribers means more money for Spotify to continue to pour resources into helping artists be heard. The acquisition of Anchor means a free and easy way to create a podcast on Spotify as an artist if that interests you.

Spotify is continuing to establish itself as more than a music service. It’s securing itself as the largest audio platform in the world.

More diversified audio on the platform is inevitably going to lead to both positives and negatives for artists. All artists can do is wait, watch, and continue to find new ways to rise above the noise. How will you?