Spotify has unveiled its new “Partner Program”, allowing popular podcast hosts to monetize their video content. Launched on Thursday, this initiative aims to provide creators with new opportunities to generate revenue while engaging their audiences.
With Spotify’s new program, certain creators on its site can make extra money in ways other than just ads, like getting paid for their videos. The program has been available in the US, UK, Canada, and Australia since Thursday, with the announcement coming in November.
The program is intended to improve Spotify’s video podcast collection, with the intention of competing on YouTube, the current market leader in the video arena.
According to Spotify, approximately 65% of qualifying podcast episodes have already joined the Partner Program since its announcement at the Now Playing event. Podcasts like Smart Money Happy Hour, The Paranormal, The Makeshift, Girls Rewatch, and many more fall into this category.
Premium subscribers to Spotify may now enjoy video podcasts ad-free. As an additional feature, it introduced Podcast Clips, a new way for creators to showcase their shows and make them easier to find.
According to the company, clips have proven to be “33% more effective than previews at converting browsers into engaged listeners” after the function was introduced in several areas in November.
