Apple Podcasts Adds Video, Intensifying Competition in the Podcast Space
Apple is integrating a new video podcast experience directly into apple Podcasts, responding to growing consumer demand. According to Edison Research, 37% of people aged 12 and over consume video podcasts monthly.
“Twenty years ago, Apple helped popularize podcasting by adding it to iTunes, and over a decade ago, we introduced the dedicated Apple Podcasts app,” said Eddy Cue, Apple’s Senior Vice President of Services. “By offering a category-leading video experience for Apple Podcasts, we’re giving creators full control over their content and how they build their businesses, while making it easier than ever for listeners to enjoy podcasts.”
New Features and Competitive pressure
The update allows users to seamlessly switch between audio and video from the same source, utilize picture-in-picture mode, and download episodes for offline viewing. While Apple supported video via RSS feeds as early as 2005, the video content was previously separate from the audio experience. The new integration incorporates support for HLS (HTTP Live Streaming), enabling adaptive playback and greater control within the app.
This new format also enables dynamic ad insertion for video podcasts. Apple will not charge creators for distributing their content, but will apply a fee based on impressions to advertising networks utilizing dynamic ads through HLS. Initial partners include acast, Amazon-ART19, Omny Studio by Triton Digital, and SiriusXM.
The move comes as competition in the podcasting space heats up.YouTube reported over 1 billion monthly active listeners of podcasts on its platform in 2023. Spotify reported paying over $100 million to podcasters in the first quarter of 2024. Netflix has also entered the market with exclusive deals and original productions, such as “The Pete Davidson Show.”
Apple does not disclose specific revenue figures for Apple Podcasts, but its Services division generated $30 billion in revenue in the most recent quarter.
the battle for podcast listeners is expanding beyond audio, and Apple appears resolute to secure a central position in this evolving landscape.
Sources:
* https://www.theverge.com/2024/2/16/24024849/apple-podcasts-video-support-hls-dynamic-ads
* https://9to5mac.com/2024/02/16/apple-podcasts-video-support/
* https://www.edisonresearch.com/ (for Edison Research data)
* https://www.statista.com/statistics/1368464/podcast-listener-reach-in-the-us/ (for podcast listener statistics)
Keep reading