If you aren’t aware, quite recently, Spotify announced that they are launching Podcast Subscription – where podcasters get the opportunity to offer paid monthly content. Now yes, it is mostly a U.S. only service as of now but the idea is to enable listeners to have a direct touch with the podcasters. While this service will be making its strides, the payment gateway can be a challenging one to deal with. So, Spotify teams up with Stripe to make the whole monetization easier for creators to do so.
Spotify and Stripe’s Team Up
Aside from the whole Podcast Subscription which Spotify is offering and enabling more listeners to “unlock the power of human creativity”, Stripe is kind of the middleman in this case, making sure that they can help the podcasters manage and grow their recurring revenue and accelerate the rollout of the platform to more countries – as it is only available in 34 market – and Malaysia is not one of them, yet.
Stripe did some analysis, and it shows that the creators on just 50 Strip-powered platforms have earned nearly $10 billion in revenue, while the whole popularity surrounding longform storytelling has shot up high. That said, having a global presence for Stripe, creators will be able accept payments from across the world in their preferred currency – just like how we paid for Amazon Prime when it was still charging us in USD instead of MYR.
This partnership doesn’t stop at just those Podcast Subscription, but expands beyond into Stripe Billing, Stripe Invoice and Stripe Radar. So, if you plan to hop on to make your own podcast and monetize it – worry not as the payment gateway is safe, thanks to Stripe.
