Aiming to unleash the power of creativity by giving one million artists the chance to experience their art, Spotify is adding a way for content creators to get paid online. It is about the union with the technology Stripe, with which they work on the Podcast Subscriptions platform, a service that allows creators of podcasts to offer content with monthly payments.
According to data from Statista, in 2020, approximately 533 million people listened to podcasts in the world. This figure represents an increase of 125 million with respect to the previous year, and supposes the continuation of the trend. According to forecasts, the number of listeners will continue to increase until it approaches 975 million in 2026.
Through a statement consulted by NotiPress, Stripe indicates that the content creators of Stripe-powered platforms have obtained around 10 billion dollars. In addition to seeing benefits in payments, there is also the popularity of long-form storytelling content like podcasts.
“Spotify Podcast Subscriptions make it easy for creators to build and manage a significant new revenue stream, and for listeners to seamlessly subscribe to content that matters to them. Stripe shares our passion for this feature; its technology and ability to to collaborate at speed helped make the launch of Podcast Subscriptions a reality in 2021. We’re connecting creators and listeners around the world in this way,” said Michael Mignano, Global Head of Talk Verticals, Spotify.
Thanks to Stripe Connect, creators can accept payments from fans anywhere in the world, and in their preferred currency. When new podcasters sign up for Spotify, Stripe handles the onboarding requirements for them to get paid. “Platforms like Spotify are making it easier for podcasters to quickly generate recurring revenue from what they love to do most: share their stories,” said Mike Clayville, spokesman for Stripe.