SiriusXM Expands Podcast Subscription Offering to Spotify, YouTube Music, and More
SiriusXM is making waves in the podcast world by expanding its subscription offering to popular platforms such as Spotify, YouTube Music, and more. This move comes after the successful launch of the subscription service on Apple Podcasts in August, where subscribers enjoy ad-free listening, bonus content, and early access to episodes of their favorite shows.
Initially, the offering included top podcasts like SmartLess, Freakonomics Radio, Last Podcast on the Left, and 99% Invisible. However, the recent expansion now includes newly acquired shows such as Call Her Daddy, Conan O’Brien Needs a Friend, Rotten Mango, The Mel Robbins Podcast, and many more.
Starting on Feb 19, users can subscribe to SiriusXM Podcasts+ for $5.99 per month or $44.99 annually. By partnering with competitors like Spotify, SiriusXM aims to broaden its audience and enhance the monetization efforts for its top podcasts, diversifying its revenue streams beyond satellite radio.
As of Feb. 1, YouTube Music boasted over 1 million subscribers, while Spotify reported an impressive 675 million monthly active users, with 263 million paid subscribers. These numbers signify a vast potential for SiriusXM to tap into a growing market and maximize its reach.
SiriusXM views its top podcasts as a key driver to attract advertising revenue and nurture its talent ecosystem in both podcasting and satellite radio. The company is experimenting with creating a paywall for exclusive content, offering insights into how they plan to evolve the podcasting landscape.
Scott Greenstein, SiriusXM’s president and chief content officer, highlighted the importance of strategic exclusivity and paywall testing with the most prominent podcasts. He emphasized the potential shift towards a more subscription-oriented model akin to satellite radio, suggesting a future where premium content may require payment for access.
In conclusion, SiriusXM’s foray into podcast subscriptions on major platforms signifies a strategic move to capitalize on the booming podcast industry. By leveraging its top shows, the company aims to not only attract new audiences but also explore innovative monetization strategies for the future. With a firm focus on curated, premium content, SiriusXM is poised to revolutionize the podcasting landscape and set new standards for the industry.