Together with
Spotify is making a big push into the creator economy with a focus on video podcasters.
Why It Hits: When Spotify announced its investment in podcasting — just the audio kind — it led to a billion dollars in spending, several outsized deals, and major changes in how audiences consume the format. Expect the same dynamics to be at play with the company’s focus on video.
Behind The Scenes: “Spotify for Creators” marks a new era for the streaming company.
- The platform will feature an updated mobile experience (including vertical video and thumbnails), analytics, new monetization tools, the ability to customize how a show is advertised on Spotify, and ways for creators to connect with fans.
- Creators can soon apply for a two-tiered monetization system — one tied to video podcast views from Premium subscribers (who will no longer see dynamic ads) and another tied to ads for all other subscribers.
- But don’t expect the same flurry of exclusive deals as the audio-only days — Spotify says it won’t go crazy with spending on original content and overall deals, something that hurt the bottom line last time.
The Future: Video podcasts have proven to be a huge format for Spotify that’s still growing. In 2021, 43% of users said they prefer video podcasts. Today, it’s at 64%, with over 250 million users having watched a video podcast on the platform. Gustav Söderström, Spotify’s chief product and chief technology officer, said video podcasting is the best way to succeed on the platform right now. Although Spotify and TikTok are now apparently friends, the Spotify for Creator’s vertical video component could start a new war for engagement.
TOGETHER WITH CANVA
No design skills needed! 🪄✨
Canva Pro is the design software that makes design simple, convenient, and reliable. Create what you need in no time! Jam-packed with time-saving tools that make anyone look like a professional designer.