In great news for podcasters, Spotify has made it easier for them to earn good money and make a living from their content, thanks to a new monetization tools that give creators control over their content and business.
According to Women Love Tech, with 345 million monthly listeners on Spotify, there’s a massive opportunity for creators to make money—and it’s helping people do this by providing a variety of options for creators to choose from.
Today, Spotify will begin rolling out a suite of podcast monetisation tools to provide wide reach, discoverability, and maximize your revenue:
Spotify Paid Subscriptions
- Launching in the US and rolling out in additional markets in the coming months.
- This new feature, originally revealed at Spotify’s Stream On event in February, will be available as part of Spotify’s suite of creator tools in Anchor, Spotify’s podcasting platform, allowing podcasters to designate episodes within their feed as subscriber-only content. This subscriber-only content can be published to Spotify as well as other podcast listening platforms.
- For the next two years, this program will come at no cost to the creator, with participating creators receiving 100% of their subscriber revenue (excluding payment transaction fees). Starting in 2023, we plan to introduce a competitive 5% fee for access to this tool.
- Spotify is kicking off with a group of participating creators including a variety of 12 independent creators, in addition to a collaboration with NPR starting May 4th, and will expand to additional shows in the coming weeks. Interested creators can sign up for the waitlist here.