Spotify to add broadcast-to-podcast feature to Megaphone after acquiring technology platform Whooshkaa
The acquisition will “supercharge” the publishing of podcasts on Spotify, says the streaming giant.
Credit: Richard B. Levine/Alamy
Spotify has acquired Australian podcast technology platform Whooshkaa in a deal that is expected to help radio broadcasters. A specialised tool will allow for the easy conversion of broadcasts into podcasts.
The deal, which was announced on Spotify’s website, will see this technology integrated into the streaming giant’s podcast distribution service Megaphone, which comes with a suite of monetisation tools for Spotify’s podcast creators including Streaming Ad Insertion, podcast ad buying through Spotify Ad Studio, and the Spotify Audience Network.
Whooshkaa has several other offerings Spotify can take advantage of through this acquisition, including internal company communication and private podcasts for education, but the broadcast-to-podcast technology is likely to be the most relevant to Spotify as traditional radio seeks a resurgence by turning its broadcasts into on-demand audio.
The application of the broadcast-to-podcast technology will not only help traditional radio stations transition to podcasting, but will offer other audio creators the ability to upload their broadcasts seamlessly to Spotify. Spotify expects the addition of this function to their suite of tools will “supercharge” the amount of third-party content published on the platform, thereby providing advertisers more options to choose from.
The announcement concludes with the company stating that it believes the digital audio industry is approaching a period of “immense growth”, which echoes Spotify CEO Daniel Ek’s promise to “double down” on what he believes is a untapped “multi-hundred-billion-dollar industry” in audio back in December 2021.
He also unveiled plans to let artists charge fans for exclusive content, early access and interactive experiences, much like the popular subscription service OnlyFans. Spotify will of course be sure to take a cut, the same way it takes a cut from ticket sales to shows on the platform.
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