Apple wants to invest in podcasts in exchange for exclusivity on its own platform

Apple is said to be planning to invest money in podcasts so that it can offer the programs exclusively on its own platform. With this measure, Apple would like to keep competitors such as Spotify and Stitcher, who also offer podcasts, at a distance.

According to financial news agency Bloomberg, senior Apple employees have reached out to media companies to discuss purchasing exclusivity rights to podcasts. Bloomberg relies on sources who are familiar with the matter, but who wish to remain anonymous because “the talks are still at a very early stage.”

Apple recently announced a new Podcast app for the Mac, as well as a web version to serve even more listeners, but has so far been silent on its podcast strategy. The company said it was “considering deals that Apple has never closed before.” Until now, Apple has been hesitant to fund podcasts because it didn’t want to give the impression that it has a preference for certain programs. On the other hand, the company is putting millions into production of TV shows and movies for the Apple TV+ service, which will start later this year.

The news that Apple wants to invest money in podcasts with a view to exclusive usage rights sent Spotify’s share down 2.7 percent on Tuesday to $150.09. Until Monday evening, the stock rose 36 percent this year. Spotify, Apple’s biggest competitor in music streaming, has meanwhile spent about 355 million euros on the acquisitions of podcast companies. The company also invested in a number of exclusive podcasts, including comedienne Amy Schumer and hip-hop artist Joe Budden.

Apple pioneered the podcast landscape in 2005 by bundling thousands of shows into a feed that was easily accessible on smartphones, tablets, and computers through iTunes and later through a separate Podcast app. That application would still be used today for listening to fifty to seventy percent of all podcasts. Spotify’s podcast share is estimated at ten to twenty percent.