Spotify is beefing up podcast monetization for all creators in the U.S. by enabling the ability to enact a paid subscription option.
The rollout arrives after a waitlisted test period in April, whereby 100 podcasts across different genres and formats were able to offer subscriber-only content. Subscriptions are set up on the back-end via Spotify’s podcast creation platform Anchor.
In Anchor, on the ‘money’ page, creators are able to mark episodes as subscriber-only, and then publish them to Spotify — and beyond, using a private RSS feed, which can be accessed by listeners on other platforms. Another new tool within Anchor enables creators to download email addresses for their subscribers (who have opted in), Spotify said, in order to more to further engage and offer additional benefits.
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A total of 20 pricing options for subscriptions will be available, ranging from 50 cents to $150 per month. Podcasters will take home 100% of subscription revenues — exlcuding payment processing fees — until 2023, whereupon Spotify says it will begin to take a 5% cut.
Currently only available in the U.S., Spotify says it will open up subscriptions to international listeners on Sept. 15, and then to international creators soon thereafter.
You can check out a video detailing how to set up podcast subscriptions in Anchor right here: