Podcasting is a weird industry. Apple’s iTunes first started supporting podcasts nearly 14 years ago, but somehow the medium feels new and emerging. Nobody knows what a mature podcasting industry will even look like, how advertising will work or how big the audience will be.
Years ago, music downloads and streaming were seen as money-making businesses, whereas podcasting was something companies such as Apple facilitated as a kind of freebie. But now it’s possible that Spotify sees podcasting as more monetizable.
And I agree. The podcasting space can expand from a tiny number to a large number of advertising. It can add memberships, subscriptions and donations to the advertising. And contextual advertising could transform the business model.
I’m not sure if Spotify has the vision to carry this out, but somebody will.