Apple introduced its podcast service 15 years ago
In a recent report published by Quartz about the podcast business. It gained strong traction after Apple launched Podcasts in 2005. Apple did not introduce podcasts to monetize its data for advertising purposes, but rather a differentiating feature to sell more iPhones.
Spotify has been making moves in the space lately
Apple is still the most prominent player in the podcast space, controlling 65% of total podcast downloads. Nevertheless, in the last couple of years, Spotify has been aggressively investing in its podcast services. They have signed exclusive deals with Joe Rogan, Michelle Obama, and Kim Kardashian to produce content.
Spotify aspires to become a major data powerhouse
While Spotify only controls about 10% of the podcast market. They are a walled-garden similar to Facebook, having loads of consumer data. Spotify aims to increase its podcast ad revenue by selling relevant ads programmatically. Once Spotify makes its app style advertising available for all its content, they will be able to generate massive revenue, making them a key player in the digital advertising space.