Spotify announced Thursday the launch of a new “Partner Program” that allows popular podcast hosts to monetize their video content.
Spotify’s new program gives qualifying creators on its platform opportunities for additional revenue beyond just ad revenue, such as video payments. The program was first announced in November and is officially available in the US, UK, Canada and Australia starting Thursday.
The program is expected to enhance Spotify’s video podcast library, likely aimed at competing with YouTube, which currently dominates the overall video space. According to Spotify, over 65% of eligible podcast shows have already signed up to the Partner Program since the company unveiled it at its Now Playing event. This includes Smart Money Happy Hour, The Paranormal Podcast, The Makeshift Podcast, Girls Rewatch Podcast and more.
Spotify has also started allowing Premium users to watch video podcasts without ads. It also launched a new tool called Podcast Clips, which are short videos uploaded by creators to promote their shows and help users discover them more easily. Since launching the feature in select markets in November, the company claims clips are “33% more effective than previews at converting browsers to engaged listeners.”
