Apple announced some changes to its strategy around podcasts including new original content available only to Apple Music or New+ subscribers.
The updates were announced as part of the launch for Apple’s iOS 17 launch recently and hints at “hundreds” of new original podcasts coming soon.
The announcement also lays out a strategy for content from top apps like Calm, LingoKids, The Wall Street Journal, and The Washington Post.
Podcasts have become wildly popular over the last ten years with many major stars like Conan O’Brien forgoing traditional television formats in favor of the easy, lightweight, and cheap podcasts.
This shift has caught the attention of companies like Apple who first explored original content with podcasts that serve as marketing companions to original series on Apple TV+.
But in 2021, Apple began producing original content with a docuseries called The Line.
The spending on original content grew modestly with reports last year pegging Apple’s spend on podcasts at $10 million.
This comes as Google recently announced it is shuttering Google Podcasts and is focusing instead on YouTube Music original content.
The race between Spotify and Apple for podcast listeners appears to be neck and neck, with Spotify hosting 5 million podcast episodes to Apple’s 2 million.
But Apple boasts 75% of the listeners in the US and 36% globally.
Podcast ad revenue is expected to top $4 billion in 2024 and is by far the fastest-growing content market making it an obvious target for large companies like Apple seeking to cash in.