Spotify Shares Down Third Day in a Row After Amazon Podcast Announcement

Amazon's Announcement is Proving Hard for Spotify
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Amazon announced Monday that they would be adding to their streaming service with their own podcast service, which seems to have attracted investors away from other streaming services.

In fact, Spotify shares have dropped each day since the Monday announcement, starting down an additional 6% on Wednesday. The market for podcasts is quite competitive, and Spotify has invested quite a bit into their podcast service, acquiring four companies that are intended to increase their library.

On the other hand, Apple Podcasts continues to expand and provide additional free content. The service is automatically installed on all iPhones and Apple devices and offers users a variety of types of podcasting content that is often comparable to those available in paid services.

Amazon expects their podcasting service to be usable for all users who currently use Amazon Music, with different tiers. In fact, there will be paid and free versions of the podcasting, which will be carried out through the Amazon Music streaming service.

Those who currently live in the US, the UK, Germany and Japan will have the first chance at this service, which has a still to be determined launch date. What is known is that the content that will be provided will be both original and curated. There will be some of the most popular podcasts, including Radiolab, Planet Money and Crime Junkie, but there will also be original content.

Original content is expected to be provided by celebrities, including Will Smith, Dan Patrick, Becky G. Beginning and DJ Khaled. While the specific date for the content streaming service to begin isn’t known, there is some information about added content, which is expected to be available in February of 2021. This indicates that the service is expected to start soon.

There will be new links between Amazon and Twitch included through the process of this service as well, allowing users to link their accounts. This link will mean that musicians and those who upload content through Twitch will be able to also stream through Amazon Music and Podcasts because they can actually connect directly into live content via Twitch as well.

Amazon’s Echo devices will also be able to access the podcast features and will be able to play podcasts directly through Amazon Music and the Music library of the user when requested. As a result, Amazon users will be able to listen to some of their favorite shows and find additional shows, but things aren’t looking good for the other streaming services.


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