Could this modest podcast discovery startup be Spotify’s game-changer? If so, how? In this article, we look ar what Podz is and how Podz will help you discover new podcasts on Spotify.
Spotify’s New Acquisition: An Overview of Podz
In order to understand any prospective synergies and benefits from Spotify’s acquisition of Podz, you first need to understand what Podz is and what Podz does.
In a nutshell, Podz is a startup that seeks to ease podcast listeners’ problems with finding new podcasts.
Podcasts are difficult to peruse since they often contain 30 or 60 minutes or more of spoken-word audio. New ones are usually discovered through word-of-mouth referrals or inadequate search methods.
While apps like Headliner make it easy for podcasters to advertise their content on social media with short snippets, Podz automates the process and turns those “bits” into the focal point of the listening experience.
Users can peruse what the company calls “the first audio newsfeed” through the Podz mobile app, consisting of 60-second podcast segments.
These segments are meant to showcase the greatest parts of each podcast, making it easy to try new podcasts other than the ones to which you presently subscribe. Each segment should stand alone, but you can download the entire podcast to listen to later if you want to go further.
These snippets are generated automatically, with a machine learning model that “identifies the most interesting bits of podcasts,” serving as what Podz calls “the throbbing core of the Podz platform.”
What Podz Could Bring to Spotify
Some of the best podcasts in the world can be found right on Spotify, whether you have a boring commute, a long car ride, or a tiresome activity to complete. Just like they can be found on countless other platforms.
Unlike watching TV or movies, or scrolling through your favorite reading material, Podcasts are completely hands-free entertainment that you can take anyplace you can plug in your headphones. The finest podcasts on Spotify, like your favorite books, movies, and TV episodes, come in a variety of genres and styles, so there’s certain to be a few you’ll enjoy.
For almost a decade, Spotify has had machine learning experts working on enhancing audio discovery, but there is still more to be done.
Spotify is hoping that Podz’ technology will complement and expedite its efforts to drive discovery, offer the appropriate content to listeners at the right time, and accelerate the category’s global expansion.
Podz generates high-quality snippets using cutting-edge machine learning technology, allowing you to view key moments from podcast episodes and encouraging you to discover and listen to new podcasts.
As outlined in a post on For the Record, this potential, when paired with Spotify’s millions of podcasts, music discovery lessons learned, and current investments in podcast suggestion will take podcast discovery to the next level. Thus, making it easier for listeners to find content to listen to and for creators to be discovered and grow a fan base.
These Podz-inspired segments, according to Spotify, will make it easier to evaluate whether a podcast episode is worth listening to on its whole rather than sifting through the seek bar for specific moments of interest.
This may be used in conjunction with a Spotify feature that allows you to share the greatest parts of a podcast episode and have them play from a certain point. This essentially works in the same way as YouTube video links that have been timestamped.
Spotify Continues to Expand Into Podcasts
Podz isn’t Spotify’s first podcast purchase, and it won’t be the last. The streaming service continues to strive to improve its users’ podcasting experience. Gimlet, Anchor, Parcast, and Megaphone, as well as Bill Simmons’ The Ringer, have all been acquired by the streaming service in the last couple of years.
Previously, Spotify acquired Betty Labs, the creator of the Locker Room live audio app, and previewed a new live audio experience for Spotify customers. Spotify Greenroom is the latest live audio experience, and it is seen as Spotify’s version of Clubhouse. Spotify Greenroom users will be able to participate in live discussions as well as host their own.
Spotify previously announced three new features: enhanced readability buttons, text scaling choices, and a beta for podcast transcripts. For the time being, transcripts will be available for Spotify Original podcasts, but will be expanded to cover all podcasts in the future.
Another recent Spotify update and addition is offline music and podcast playback for Apple Watch users, which allows you to download Spotify podcasts to your Apple Watch and listen to them without having to use your iPhone.
Furthermore, Spotify can fully utilize the social media potential of these podcast highlight snippets, particularly on Facebook. The social media giant recently announced a partnership with Spotify, allowing it to include a mini-player into the Facebook app. Spotify music and podcasts are pulled into this mini-player, which also has full playback controls.
Thanks to the Podz technology, the two firms may expand on the cross-platform podcast discovery component by allowing consumers to share these short audio segments on Facebook.
Spotify and Apple are neck and neck when it comes to generating cash from podcast subscriptions. After teasing it in February, in April, Apple announced its entry into podcast subscriptions, and Spotify began rolling out its subscription program the following week.
Apple has stated that it will take 30% of podcast income in the first year, dropping to 15% in the second. Spotify, on the other hand, will not take a cut from creators until 2023, when it will start taking 5%.
Though podcast creators can quickly figure out that giving up 5% of their subscription earnings is better than giving up 30%, listeners will likely flock to whichever app offers the best user experience—and if Spotify’s investment in discovery pays off, it could threaten Apple’s long-held dominance in the podcasting medium.
Will Spotify Benefit From Its Acquisition of Podz?
To summarize, Spotify’s recent acquisition of Podz will make it easier for listeners to determine whether a podcast episode is worth listening to in its entirety rather than scouring the seek bar for specific moments of interest.
As a result, Podz could be a game-changer for Spotify and its continuing drive into delivering podcasts to listeners.
