Spotify is one of the world’s most popular music streaming platforms and recently it has acquired Whooshkaa which is an Australian firm that offers tools to convert a radio show into a podcast, how cool is that?
The music streaming platform is used globally across nations and podcasting, as we know has taken a serious turn in the entertainment market. People have actually started to enjoy podcasts and look forward to it and Spotify is one place where you find the best of music and the wide range of podcasts from the most renowned and popular podcasters in the world.
Nevertheless, what is Spotify doing that has not been done before? Well, the latest instance is the acquisition of Whooshkaa, bringing radio into the modern era. As mentioned in multiple reports from credible sources, Spotify is planning to integrate this technology into its megaphone suite for podcast creators with a simple aim to earn profit and give podcasters a chance to profit from their creation. Podcasts are the books of modern times and in our busy lives, what’s better than gaining knowledge on the go?
Whooshkaa, however, is not just a tool to convert radio shows into podcasts. The start-up also enjoys speech to text technology that could really benefit Spotify with podcasting features, tools and everything related. What about smart home integration? Well, it surely is a possibility too. Can we auto-transcribe podcasts with Whooshkaa’s technology integrated with Spotify? Neither of these companies has spoken about that being used but there is a possibility there for premium users. These are all very useful podcasting tools that could take Spotify much ahead of Apple Podcasts.
So, what is Spotify trying to do by acquiring Whooshkaa? The answer to this question is pretty simple to me, let me explain.
Spotify is a music streaming service that also offers Podcasts on the same platform. Now, with the acceptance of podcasts, the company is promoting podcasts and seeing a potential opportunity for growth in the podcasting business. Spotify is even selecting top podcasters under the “Spotify Exclusive” label, meaning their content will be first available on Spotify, about 48 hours before YouTube and other platforms.
Spotify is expecting to expand its listener base by expanding its catalogue of available products on its platform. The company will now move on to persuade more and more radio networks to offer podcasts to their listeners. Radio listening has declined over the years and Spotify really has some opportunity here, to take on that business.