After Apple's announcement of paid subscription podcasts, Swedish music streaming service Spotify is planning to introduce a paid podcast subscription service.
However, Spotify will not take a cut of the revenue like Apple, according to media reports. The Swedish music streaming service may announce the new offering by next month.
AppleInsider citing the Wall Street Journal reported that Spotify's offering will differ from Apple's as it will neither charge a fee nor take a revenue cut.
Citing unnamed sources familiar with the plans, the report said that Spotify will also allow podcast creators to set their pricing.
Reportedly, once the service is available, users of Spotify's iOS app will pay for a subscription via a website. If correct, that means Apple will not take a cut of that revenue as it does with regular in-app purchases.
On the other hand, listeners of Apple's recently launched Apple Podcasts Subscriptions can sign up for premium subscriptions from May.
The premium subscriptions include a variety of benefits curated by creators, such as ad-free listening, access to additional content, and early or exclusive access to new series.
Listeners will be able to enjoy premium subscriptions from independent voices and premier studios, including Tenderfoot TV, Pushkin Industries, Radiotopia from PRX and QCODE, to leading media and entertainment brands, including NPR, the Los Angeles Times, The Athletic, Sony Music Entertainment and many more.
*Edited from an IANS report