Podcasts are not a new term at all - they have existed for over 15 years, and they are finally getting the recognition they deserve.
Podcasts haven't changed much in a way or recording and listening to them but then - why are they gaining popularity so quickly?
The answer is that music streaming platforms are making a change in the way we see podcasts.
Recently, Spotify has acquired Gimlet and Anchor - two companies that combined, will be the premium of the podcasts. Gimlet is a podcast show content creator with best class podcasts. Where Anchor is enabling creation for the next generation of podcasters worldwide.
As stated by Daniel Ek (Founder and CEO of Spotify) - Spotify's mission is to focus intensively on the curation and customization that users experience with podcasts on Spotify - with better detection, data, and monetization to creators.
With the acquisition of Gimlet and Anchor, Spotify is really taking over the business and soon will be the leading podcast publisher.
Currently, Spotify is testing a brand new playlist - a personalized playlist that mixes podcasts and music. The name of the playlist is called "Your Daily Drive" - and will feature short podcast series followed by a curated choice of music customized to the listener's music taste. This new feature is still in the makings and is not available for the mass public yet.
It is not only Spotify who is aiming to be an industry leader. Pandora, Apple, and Amazon are also entering the podcast curation and specialization services - with slightly differentiated approaches.
For example, "Alexa Daily Briefing" from Amazon is offering news and short content, ideal to start the listener's morning routine. Whereas, Apple Podcasts serve as a directory, including ratings, reviews, and categories for easy discovery.
With the rise in the popularity of podcasts, we can see that they are getting more diverse. Currently, 80% of the popular podcasts are in English. However, with the newest culture trends, we can see an increase in non-English podcasts.
Also, Podcasts attract high-advertisement income. Thus making them good for the music business as they are a revenue-driver that has endless applications and services that are yet to be implemented.
In conclusion, the era of the podcasts is finally here, and it is exciting to see what music industry magnates such as Spotify, Apple, Pandora and Amazon can can offer to enhance the customer's experience.
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