On Thursday i.e. June 17, 2021, Spotify announced the acquisition of Podz, the latest startup that is centered on AI technology to boost audio content discovery, as large internet firms increasingly invest in podcasts. The acquisition comes on the back of Spotify’s revelation that the audio streaming and media service provider will now enable chosen partners to charge for access to their content via subscription podcasts.
“At Spotify, we are investing to build and scale the world’s best (and most personalized) podcast discovery experience,” said the company. “We believe that Podz’ technology will complement and accelerate Spotify’s focused efforts to drive discovery, deliver listeners the right content at the right time, and accelerate growth of the category worldwide,” The company continued further.
The deal was announced on Spotify Newsroom yesterday. Listeners find it difficult to discover new episodes because podcasts are typically 30 minutes lengthy. Hence, with a smart feed based on machine learning and artificial intelligence, Podz was designed to assist consumers to find new podcasts easily. The interface creates short 60-second snippets on its own that emphasize the finest parts of each podcast that the user would find interesting. Spotify now claims that the technology will be deployed on its platform to improve how consumers find new podcasts.
The news of Spotify purchasing Podz comes only one day after Facebook revealed that podcasts will be available on its social network on June 22, 2021. The social media giant claimed that creators will now be able to make clever short clips to advertise podcasts on Facebook.
Following a new version of the Podcasts app that was launched with iOS 14.5 in April and a premium podcast subscription that became available earlier this week, US-based multi-technology company Apple has also been spending more on Podcasting. The firm anticipates that with charged podcasts, developers will be more motivated to provide listeners with exclusive material, such as an ad-free experience or even additional episodes.