Spotify on Thursday announced the launch of a new “partner program” that will allow popular podcast hosts to monetize their video content.
Spotify's new program gives eligible creators on the platform the opportunity to earn additional income beyond ad revenue, including video payments. The program was first announced in November and was officially available in the US, UK, Canada and Australia starting Thursday.
The program is expected to boost Spotify's video podcast library, and is likely aimed at competing with YouTube, which currently dominates the entire video space. According to Spotify, more than 65% of eligible podcast shows have already signed up for 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 also started allowing its premium users to watch video podcasts without ads. We've also launched a new tool called Podcast Clips. These are short-form videos uploaded to help creators promote their shows and help users find them more easily. Since the feature was introduced in some markets in November, the company claims that Clips are “33% more effective than Previews at converting browsers into engaged listeners.”