Apple announced on Monday plans to enhance its Apple Podcasts platform by integrating a new video podcast experience, set to launch in spring 2024. This update aims to align Apple Podcasts with competitors such as Spotify, YouTube, and Netflix, all of which have increasingly incorporated video content into their podcast offerings.
According to Edison Research, approximately 37% of individuals over the age of 12 watch video podcasts monthly, highlighting a growing trend in the podcasting landscape. Eddy Cue, Apple’s senior vice president of Services, noted that Apple has a long history with podcasting, having initially popularized the medium through iTunes and later launching the dedicated Apple Podcasts app. The new video experience will allow creators more control over their content while providing audiences the flexibility to switch seamlessly between audio and video formats.
The updated Apple Podcasts app will support HTTP Live Streaming (HLS), enabling adaptive video playback and dynamic ad insertion capabilities. Creators using specific hosting providers and ad networks will be able to include video ads in their episodes. Notably, Apple will not impose distribution fees on creators or hosting providers but will charge ad networks based on impressions for the dynamic ads delivered.
Launch partners for this new video feature include notable companies like Acast, Amazon-owned ART19, and SiriusXM. This announcement occurs in a context where other platforms are also investing heavily in video podcasting; YouTube reported over 1 billion monthly active viewers for podcast content last year, while Spotify has allocated significant funds to develop its video offerings.
While Apple does not disclose specific revenue figures for Apple Podcasts, its Services segment reported $30 billion in revenue in its last quarter, indicating the importance of digital content to the company’s overall financial performance.