The initial news has caused Spotify's stock to fall 2 percent so far as any effort on Apple's part to delve deeper into podcasts could impact Spotify's efforts to become a major source for podcast content.
Apple's Podcasts app is installed on iOS devices by default, and starting with macOS Catalina, the Podcasts app is a standalone app. Apple's decision to split Podcasts out into its own app makes more sense if the company is indeed planning to invest money into original and exclusive podcasts.
Two years ago, Spotify said it was "coming after" Apple with a strong push into podcasting content, and this year, Spotify made a serious effort to become a premium podcast destination.
Spotify launched several podcast-related initiatives and acquired several podcast companies, including Gimlet Media, Anchor, and Parcast, boosting its catalog of exclusive podcast content and its available podcasting tools.
Spotify has also made an effort to fund new and original podcast content, with the aim of becoming the Netflix of podcasts.
Tag: Podcasts
This article, "Apple Plans to Start Funding Original Podcasts" first appeared on MacRumors.com
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